Index of Industrial Production rises 10.4% in 10 months
Vietnam’s Index of Industrial Production (IIP) scored growth of 10.4% in the first ten months of 2018, compared to the growth of 9.6% in the same period last year.
- Vietnam makes a leap in Global Innovation Index
- Vietnam receives higher score in global competitiveness index
- Oxfam releases The Commitment to Reducing Inequality Index 2018
 |
The processing and manufacturing sector, which accounts for three-quarters of the entire industry, saw an expansion of 12.7% year-on-year, contributing 9.8 percentage points to the industry’s growth, according to the General Statistics Office.
Electricity production and distribution increased 9.6%, contributing 0.9 percentage points, while water supply and waste treatment rose by 6.6%, contributing 0.1 percentage point.
The mining sector witnessed a decline in production, down 2.6% which caused a fall of 0.4 percentage point to the industry’s growth.
The country’s IIP experienced a growth of 9.4% in 2017, well above the growth of 7.4% in the previous year. The impressive growth was fuelled by the processing and manufacturing industry, which rose by 14.5% year-on-year, the highest rate over the past six years.
Among the key industrial products with high IIP increases in 2017, there was raw steel and iron (32%), television sets (31%), fabric (12.6%), and urea (10.4%).
