Industrial Production Value Grows 16.5 Per cent

The July industrial production value of Vietnam rose 18.6 per cent on year, according to the General Statistics Office (GSO). The January-July period averaged 16.5 per cent on-year growth.

 

Twenty out of 27 industries saw growing. Several industries enjoyed an above-average growth, including garment-textile, chemical, electrical equipment production and plastic. Notably, the leather and footwear had a quite high growth of 13.4 per cent. Several mainstay industries had a higher-than-average growth rate, like clean coal up 24.6 per cent, garment and silk 17.5 per cent, apparel 22.3 per cent and pesticide 19.9 per cent. Some provinces and cities had an above-average growth, including Dong Nai 19.8 per cent, Binh Duong 19.4 per cent, Haiphong 19.1 per cent and Hanoi 17.7 per cent.

 

Declining industries comprised of medical instrument down 11.8 per cent, automobile assembly 10.7 per cent, transport means repairing 15 per cent and electricity production 37 per cent.

 

The foreign-invested sector enjoyed the highest growth rate. This sector posted an industrial production value of VND62,741 billion (US$3.9 billion), up 21.4 per cent on year, the highest growth rate since the beginning of this year.

 

The industrial output value of the domestic sector reached VND100,558 billion (US$6.28 billion), representing an on-year increase of 9.8 per cent. The centrally State-run segment reported a total industrial production value of VND35,992 billion (US$2.5 billion), up 6.8 per cent. The locally State-run segment posted VND10,099 billion (US$631 million) production value, up only 1.9 per cent. The private segment made VND54,467 billion (US$3.4 billion), up 14.5 per cent.