Vietnam is estimated to make industrial production value of VND50.64 trillion (US$2.99 billion) in January, down 8.6 per cent on-year and 4.4 per cent on-year, according to the General Statistics Office (GSO).
The reduction is attributed to the world economic crisis and a production halt by enterprises for Tet holidays (Lunar New Year 2009), the GSO said.
In the month, the state-owned sector sees the most reduction at -8.5 per cent on-year to VND12.16 trillion, followed by the foreign-invested sector at -3.2 per cent to VND21 trillion and the private sector reports a growth of -2.8 per cent on-year to VND17.48 trillion.
Many among key industries reported a negative on-year growth in industrial production value in the first month of this year. Television makers post the sharpest fall, at -28.7 per cent, followed by coal producers at -25 per cent and auto type makers at -23.2 per cent.
Meanwhile, crude oil exploitation sees the highest growth in the month, at +20.6 per cent, followed by electric transformers at +15.2 per cent and electricity production ranks third at +13.8 per cent.
Many major cities and provinces nationwide report an on-year reduction in industrial production value in January, for examples, southern Binh Duong province (-4.3 per cent), Hanoi Capital (-6.4 per cent), northern Vinh Phuc province (-24.7 per cent), Hai Duong province (-7.1 per cent), northern Phu Tho province (-19.5 per cent), northern Quang Ninh province (-7.4 per cent) and central Danang city (-4.9 per cent).
Meanwhile, southern Ba Ria-Vung Tau province posts highest industrial growth, at +13.9 per cent on-year, followed by central Khanh Hoa province, at +12.1 per cent and northern Haiphong city, at +11.4 per cent.
Vietnam’s industrial production value increased by 14.6 per cent on-year to VND652,766 billion (US$38.62 billion) last year. The country targets to make industrial growth of 16 per cent on-year this year. (GSO Jan 2009)
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