Industrial output rises 13.6% so far in 2010

Industrial production in the first two months of this year gained a year-on-year increase of 13.6 per cent to reach VND114.54 trillion (US$6.1 billion), according to the General Statistic Office (GSO).

The growth in industrial production was evidence of a sound recovery in the industrial sector after the global economic crisis in 2009, said GSO industrial experts.

In the first two months of this year, foreign direct investment rose 15.4 per cent to VND47.76 trillion ($2.6 billion) in industrial production value, followed by the private economic sector, which increased by 15.1 per cent to VND41.72 trillion and the State-owned economic sector, which rose by 8.1 per cent to VND25.22 trillion.

Production and distribution of electricity rose 19 per cent to 12.9 billion kWh in the first two months of the year due to increasing demand, the office said.

Production of car tyres rose in value by 86.2 per cent, while production of air conditioning units rose 85.7 per cent. Glass production rose 74 per cent, paper and cardboard output rose 57 per cent, cement production rose 36 per cent, the number of motorbikes churned out rose 40 per cent, while output of cotton fibre rose 31.8 per cent.

Meanwhile, a number of industries saw declines in production value. These included crude oil, down 20 per cent; and coal down 12.3 per cent. Sugar, vegetable cooking oil and fertiliser production fell by between 1.2 per cent and 4.5 per cent.

However, experts said current growth levels were unsustainable due to the stockpiling of goods, the increasing cost of raw materials and the weakness of the Vietnamese dong.

VietNamNet/Viet Nam News

Tags: Vietnam industry, Vietnam industry 2010, Vietnam industry output