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Industrial Output Up After Strong Month 30/07/2013 16:30

In July, mining and manufacturing production increased by 6.8 percent, while the power sector grew 9.2 percent compared to the previous year. Water supply and waste treatment saw a smaller rise of 1.6 percent.

Based on July‘s figures, total industrial output in the first seven months of 2013 climbed by 5.2 percent over the same period last year, the GSO reported.

During the January-July period, leather products made the biggest annual gain, jumping by 17.3 percent, followed by motor vehicles and paper, which grew 14.3 percent and 11.6 percent, respectively.

The IIP for most cities and provinces nationwide increased during this period, of which the northern province of Vinh Phuc recorded the highest growth of 24.4 percent, followed by the central city of Da Nang at 10.5 percent. Ho Chi Minh City rose by 4.2 percent and Hanoi by 5.3 percent.

Earlier this month, the Ministry of Industry and Trade forecast that rising orders and signs of recovery in the property sector will drive industrial growth in the final months of the year.

The GSO also reported that the inventory index for the manufacturing industry by July 1 had increased by 8.8 percent against the same period last year, adding that the rise was significantly smaller when compared with the 19 percent rate in January. However, it noted that further increases are not sustainable, partly because manufacturers have reduced production due to low consumer demand.

Large stockpiles were still leading to cut back in production levels in beverages, cigarettes and the pharmaceuticals industry, however garment, leather, vehicle engines and electronics-computers all saw inventories fall.

(Source: vietnamplus.vn)

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