Vietnam's Industrial Value +2.1 per cent at VND152.95T in First Quarter: GSO
Vietnam's industrial production value is estimated to have increased 2.1 per cent to VND152.95 trillion (approx US$9 billion) in the first three months, according to the government's General Statistics Office.
In March, the value is estimated to have reached VND53.218 trillion (US$3.15 billion), up 2.4 per cent on year, the GSO said.
“The low growth rate of industrial value is due to rising inventories and slow sales due to shrinking demand triggered by the global downturn,” Nguyen Duc Hoa, head of the GSO said.
The industrial value by state-owned companies is estimated to have hit VND35.335 trillion, down 3.2 per cent on year in the period, by private sectors reached VND55.109 trillion, up 5 per cent and by foreign-invested firms risen 2.9 per cent to VND62.504 trillion, the GSO said.
The value of oil and gas industries is projected to have climbed 13.1 per cent to VND8.424 trillion during the period, the GSO said. (GSO)
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