The nation\'s industrial production reached VND198.7 trillion (USD9.5 billion) in the first quarter of this year, a rise of 14.1 per cent against the same period last year, the General Statistics Office (GSO) announced this week.
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| Workers assemble a 29-seat bus at the TRANSICO 1-5 Auto Factory. — VNA/VNS Photo Anh Ton |
Officials said the growth in industrial production showed that the economy had recovered from the effects of the world economic crisis in 2009-10.
Meanwhile, consumption of industrial products increased 18.5 per cent in the first quarter, Nguyen Quang Ha from the GSO, said.
He attributed the surge in consumption to State policies that encouraged the production of better-quality, more competitively priced goods.
Industrial productivity of foreign-invested businesses meanwhile reached VND85.1 trillion (USD4.1 billion) in the first quarter of this year, a rise of 16.3 per cent on the same period last year.
The turnover in the domestic sector this year was worth VND74.5 trillion (USD3.5 billion), a surge of 16.6 per cent on the same period in 2010. Turnover in the State sector meanwhile reached VND40 trillion (USD1.9 billion), an increase of 5.5 per cent.
The processing industry saw the greatest growth of 15.1 per cent over the same period last year, averaging 9 per cent a month.
Output of almost all industrial products in the first quarter was up. Showing the greatest increase were water heaters (81.9 per cent), liquefied petroleum gas (38.8 per cent), milk powder (19.5 per cent), new buses (19.2 per cent), sugar (18.2 per cent), garments (17.3 per cent) and processed seafood (14.4 per cent).
Meanwhile, production of electricity, crude oil, coal, glass, steel, cooking oil, air conditioners, televisions and ceramic tiles fell.
