Industrial Production: A Good Start
In the first two months of 2010, the Vietnamese industrial sector made a good start with considerable increase in the production value of most kinds of products.
The Ministry of Industry and Trade reported that industrial production showed some signs of recovery in the first two months of 2010. The increase in the production value was almost equal to that of the time prior to the global economic crisis. Two-month industrial production value was VND114.1 trillion, an increase of 13.6 percent compared with the first two months of 2009. Specifically, in the foreign invested sector, the growth was 15.4 percent, the non-state sector, 15.1 percent, the centrally governed economic sector, 11.2 percent, and the locally governed economic sector, three percent.
Most cities and provinces welcomed the year 2010 with a higher industrial production value of the first two months compared with the same time of 2009. The most impressive growth, 61 percent, was obtained by Phu Tho, which is followed by Vinh Phuc, 53.2 percent, Da Nang, 44.1 percent; Binh Duong, 35.1 percent; Hai Duong, 26.4 percent; Dong Nai, 19.3 percent; Ho Chi Minh City, 17.9 percent; Quang Ninh, 15.6 percent; Thanh Hoa, 14.9 percent; Hai Phong, 14.8 percent; Khanh Hoa, six percent; Hanoi, 5.1 percent; and Can Tho, 5.4 percent.
The production value of most kinds of industrial products in the first two months of 2010 was higher compared with the same time of 2009. Power supply was stable during Lunar New Year (Tet) holidays. In February 2010 electricity sales were estimated to reach 5.98 billion kWh, an increase of 19.2 percent compared with February 2009. Specifically, the amount of electricity used for industrial production and construction purposes accounted for 48.5 percent, up 24.3 percent; the amount of electricity used by businesses, hotels and restaurants increased 13.8 percent; and the amount of electricity used for management purposes and by consumers accounted for 40.9 percent, up 11.4 percent.
Presently, though the amount of water in reservoirs is low and the average amount of power consumption is 177 million kWh per day (last month that was 230 million kWh per day), the power production output of February 2010 increased 5.8 percent compared with February 2009 and was estimated at 5.81 billion kWh. In the first two months of 2010, the power production output was estimated to total 12.87 billion kWh, an increase of 19 percent compared with the same time of 2009.
Though February was the time of the Lunar New Year, oil and gas exploration activities were carried out actively. There was no incident with gas pipelines during Tet. In February 2010, the oil and gas extraction output was estimated to reach 1.14 million tonnes. So, in the first two months, the oil and gas extraction output totaled an estimated 2.36 million tonnes (the extraction output of oil was 0.6 billion cu.m in February and totaled 1.4 billion cu.m in the first two months).
In the first two months of 2010, the production output of clean coal continued to increase and reached an estimated 6.3 million tonnes, up 8.7 percent compared with the same time of 2009. Coal exploration activities were intensified.
After a year full of difficulties, the domestic steel sector entered 2010 with happy signals on the market. In the first two months, the steel production output was estimated to total 749,200 tonnes, up 4.6 percent compared with the same time of 2009. That of the Vietnam Steel Corporation was 204,200 tonnes, up 14.5 percent.
The textile-garment sector also achieved good results. The export revenue of textiles and garments reached an estimated US$1.51 billion, an increase of 16.8 percent compared with the first two months of 2009. The localization rate of export garments is growing.
Two-months paper production output was 273,900 tonnes, 57 percent higher than that of the first two months of 2009.
With the above encouraging results, the Vietnamese industrial sector is confident of its ability to experience the year 2010 with further success./.
Tags: Vietnam Industrial Production, Vietnam industrial production 2010
Posted by
VBN on Mar 8 2010. Filed under
Industry. You can follow any responses to this entry through the
RSS 2.0. You can leave a response or trackback to this entry
Subscribe via Email 
Subscribe in a Reader 
Follow us on Twitter 
Connect on Facebook
China Business News