The national Index of Industrial Production (IIP) rose by 5.2 percent in October, helping boost the Index for the first 10 months by 7 percent over the same period last year, the General Statistics Office (GSO) has reported.
 |
Vu Quang Ha, a statistician at the GSO, blamed the slow growth on domestic financial and monetary fluctuations, inflation and high interest rates.
The modest IPP increase was also reflected by growing stockpiles of products. As of October, the stockpile index has increased by 21 percent compared with last year\'s corresponding period.
During that period, the mining industry experienced a 0.7-percent drop in industrial output while the manufacturing, gas and water sectors experienced growth rates of roughly only 10 percent.
Among the main industries to record a year-on-year decrease in the first nine months, natural gas fell 9.4 percent, electrical wire and cabling declined 20.9 percent and shipbuilding was down 22 percent.
However, some industrial products recorded significant growth including sugar, up 42.4 percent; automobiles, up 19.9 percent; cloth, up 15.1 percent; fertiliser, up 14 percent; and footwear, up 10.6 percent.
During the January-October period, Ha Noi and HCM City\'s IPP surged 12.5 percent and 12 percent, respectively, against the same period last year.
