Vietnam’s IIP grows 10% in May
VIETNAM’S index of industrial production (IIP) grew by 9.9 per cent in the first five months of this year over the same period last year.
By sector, the processing and manufacturing industry increased by 12.6 per cent; the electricity production and distribution industry increased by 8.3 per cent; water supply, drainage and waste treatment 7.5 per cent; while the mining industry fell by seven per cent.
Among the secondary industries, a number of key industries had a high production index in the five months compared to the same period last year.
Metal production grew by 38 per cent; motor vehicle production 35 per cent; production of beds, wardrobes, tables and chairs 18.3 per cent; and production of electronic products, computers and optical products 15.5 per cent.
In the opposite direction, a number of industries saw a decrease. Crude oil and natural gas exploitation dropped by 11.5 per cent; print, copy records of all kinds 5.1 per cent; hard coal and lignite mining 3.8 per cent; drainage and waste treatment 1.6 per cent; production of coke and refined petroleum products 0.4 per cent.
The number of employees working in industrial enterprises as of May 1 rose by 1.2 per cent compared to the same period last month and by 2.2 per cent over the same period last year.
Industrial production last month was estimated to grow by 1.6 per cent over the previous month and 11.6 per cent over May last year despite the complicated developments of the Covid-19 pandemic from the end of April, which directly affected a number of industrial zones in the two provinces of Bac Giang and Bac Ninh.
Of which, the mining industry dropped by 6.4 per cent month-on-month and by 9.8 per cent year-on-year; processing and manufacturing rose by 2.6 per cent and 14.6 per cent respectively.
Electricity production and distribution increased by 12 per cent year-on-year, and water supply, drainage and waste treatment increased by 6.8 per cent.