Industrial production rises 13.5% in seven months

Industrial production reached VND435 trillion (US$23 billion) in the first seven months of this year, up 13.5 per cent over the same period last year, said Quang Ha, from the General Statistics Office (GSO).

Ha said the figures showed that Viet Nam’s industrial production had stabilised.

Foreign-invested enterprises saw the strongest growth, with the value of industrial production reaching VND183 trillion ($9.6 billion), up 17 per cent. Meanwhile, non-State domestic firms saw a production of VND154 trillion ($8.3 billion), an increase of 12.6 per cent against the same period last year.

State-owned firms earned just VND98 trillion ($5 billion), accounting for 22.5 per cent of the total industrial value.

The processing sector, which accounts for 89 per cent of total industrial production, posted the highest growth.

Items that achieved good growth in the first seven months included liquefied petroleum gas (LPG), production of which reached 320,000 tonnes, up 100 per cent against the same period last year; trucks, 20,200 units, up 25.9 per cent; and motorbikes, 2 million units, up 21.8 per cent.

However, some products failed to meet expectations, such as processed seafood, which saw production reached 702,000 tonnes, an increase of 13 per cent over the same period last year; and coal, 25 million tonnes, up just 2.2 per cent against the same period last year.

Meanwhile, crude oil production fell by 14.5 per cent to 8.5 million tonnes, while steel production dropped 0.2 per cent to 2.5 million tonnes. — VNS

Tags: Vietnam industrial production 2010