Illustrative image (Source: VNA)Hanoi (VNA) - Vietnam’sIndex of Industrial Production (IIP) posted a 6.5 percent year-on-year increasein the first seven months of the year, according to the General StatisticsOffice (GSO).
ButGSO experts said it was lower than the 7.2 percent rate in the first sevenmonths of 2016. They also warned that the growth of the national IIP in thefirst seven months was not sustainable because the index of inventory rose by10.4 percent year-on-year, higher than the inventory index of 10.2 percent inthe first seven months of 2016.
Accordingto the GSO figures, the IIP of the manufacturing and processing sector rose by10.6 percent over the same period last year. However, the mining sector, one ofkey industrial production sectors, saw a 7.5 percent IIP drop during the firstseven months.
Severalproduction sectors surged on the IIP, including metal production (35.4 percent),electronics, computer and optical products (15.2 percent), and paper production(10.4 percent).
Outputof some industrial products reached high growth during this period, such astelevisions, up by 36.6 percent to 5.98 million units; rolled steel products,up 25.2 percent to 3.6 million tonnes; urea fertilizer products, up 15.2 percentto 1.42 million tonnes; and electricity, up 8.2 percent to 108 billion KWh.
Manyother products experienced lower growth or reduction in output, includingmotorbikes, coal, mobile phones, auto, crude oil and gas.
Theoffice said the consumption index of the processing and manufacturing sectorachieved a year-on-year increase of 8.4 percent in the seven months,contributing to the growth of the national IIP.-VNA
VNA
