4:27:05 PM | 31/10/2008
Vietnam is estimated to make an industrial production value of VND547 trillion (US$33.15 million) in the first ten months this year, up 15.8 per cent on-year, the Vietnam News newspaper reported.
The growth is much lower than that in the same period last year, the newspaper citied the General Statistics Office (GSO).
Experts from the GSO attributed the fall to the impacts of the world financial crisis, and skyrocketing inflation. Inflating prices have reduced purchasing power.
Foreign-invested firms contribute 41.1 per cent to the country’s total industrial production value, and see a growth rate of 17.8 per cent over the same period last year.
Meanwhile, private enterprises accounts for 35.5 per cent of the total industrial production value, posting the highest growth rate at 21.1 per cent.
State-owned companies recorded the lowest growth rate of only 5.5 per cent, according to the GSO.
Industrial products with high growth rates include aquaculture, washing powder, automobiles, clothing and refrigerators. Their growth rates range from 17.2 per cent to 64.2 per cent.
According to experts, the country’s industrial production growth rates many continue to fall. It was difficult to control the drop as purchasing power since the beginning of the year has been losing value, they said.
Moreover, the consumption of Vietnamese goods in the international market in the ten-month period records a loss.
In October, export turnover is just US$5.1 billion. This number stood at around US$6 billion in previous months. (VNS)
Vietnamese
