Vietnam’s industrial production value was ten times higher than that of 1991 and just fell down in 2009 when the global crisis hit countries around the world.
Last year’s industrial production dropped to 7.6%, the lowest figure since 1991, but it began to bounce back in August with two digits.
In the first eleven months this year, industrial production has increased by 13.8%, which is higher than the average rate of 13.64% during the 1991-2009 period.
Two digit industrial growth rates can be seen in all sectors, which help prevent unemployment rate and contribute to GDP expansion. Recruitment rate in the industrial sector has risen by 0.6% against the beginning of this year.
The global economic recovery, domestic rising demand (some 25% increase in retail sale), and high FDI disbursement (nearly US $10 billion) have mainly driven the industrial value forward.
Demand for manufacturing products went up by 10.8% in the first ten months, followed by alcohol-free beverage, butter and milk products, tiles and ceramics, beer, cement, and footwear.
The export turnover has considerably increased by 27% and 21.6% in FDI and public sectors respectively.
However, the national economy still faces with high trade deficit, low growth quality and weak competitiveness.
