The industrial production value in May soared 17 per cent on year to VND44,100 billion (US$2.76 billion), totalling VND206,800 billion (US$12.86 billion) in the first five months of this year, up 15.6 per cent year on year, according to the Ministry of Industry.
Major coal, laminated steel, cement, cloth, silk and apparels exceeded targeted growth rates, ranging between 16023 per cent. However, processed aquatic products, industrial electricity, soap, beer, diesel engines, cardboards, batteries and electric engines were among commodities to witness low growth rates. Unfortunately, production of automobiles, transformers, bikes, crude oil and natural gas fell significantly 3.7-44 per cent in the five months compared with the same period last year. The major reason for the sharp fall in automobile products resulted from purchasing delays of potential buyers who expected a lower price level in the domestic market when used cars were imported. Hence, the auto output dropped 44 per cent in the five months. Especially, although the World Cup 2006 comes near, the output of TVs still decreased 2.3 per cent on year in May and 6.3 per cent in January-May.
Major localities were reported to have high industrial production output values like Hanoi with nearly 17 per cent growth, Haiphong and Binh Duong, both over 19 per cent, Ha Tay over 22 per cent and Hai Duong 26 per cent. Danang, Phu Tho, Thanh Hoa and Vinh Phuc had high industrial output value but saw slow growth rates.
The State-owned enterprise sector had the lowest growth of 8.9 per cent in the five months. However, in May, this sector saw an on year growth of 10.7 per cent on year.
The private sector had the highest growth of 20.5 per cent in the January-May period, followed by the foreign-invested sector with 18.1 per cent.
H.L
Vietnamese
