Industrial value up 13.5% in four months

The country’s industrial value grew by 13.5 per cent in the first four months of this year to VND236.7 trillion ($12.5 billion), reported the General Statistics Office (GSO).

The foreign-invested sector posted the strongest growth rate of 16.1 per cent compared to the same period last year, to a value of over US$5.1 billion. It was followed by the private-owned sector, with 12.7 per cent growth to a value of more than $4.4 billion, and the State-run sector, up 10.3 per cent to $2.8 billion.

According to experts, the increase of 13.5 per cent was a signal that industrial production had recovered from the affects of the global economic recession.

In the first four months, electricity, gas and water distribution and production sectors saw the highest increase. Electricity production grew by 18.9 per cent to 29.7 billion Kwh due to increased electricity demand.

The manufacturing and processing sectors accounted for 89 per cent of the total industrial value with many products posted increases; powdered milk expanded 31.2 per cent to 16,700 tonnes, paper up by 14.5 per cent to 142,500 tonnes, automobile and truck tyres rose by 61.9 per cent to 625,000 units and cement production grew by 15.7 per cent to 1ù7.2 million tonnes.

Daily household items, such as air-conditioners and refrigerators saw high increases, with increases of 45.5 per cent and 28.9 per cent respectively. Vehicle production rose by 31.5 per cent to more than 27,000 units.

However, some experienced low growth and a reduction in production value. Crude oil dropped 17.8 per cent to 4.7 million tonnes and pit coal increased by 5.4 per cent only to 14.2 million tonnes.

Tags: Vietnam Industrial Production, Vietnam industry