Industrial production index climbs 18.3 percent in January

The index of industrial production (IIP) in January fell 4.4 percent month on month but still went up 18.3 percent year on year, reported the General Statistics Office (GSO).

Workers produce bicycles at a factory of the Thong Nhat Joint Stock Company in Hanoi. (Photo: VNA)

In particular, the processing - manufacturing sector expanded 19.3 percent from a year earlier, contributing 15.1 percentage points to the overall growth.

Electricity production and distribution surged by 21.6 percent, contributing 1.9 percentage points; water supply, waste and wastewater management and treatment up 5.7 percent, 0.1 percentage point; and the mining sector up 7.3 percent, 1.2 percentage points.

Notably, the January IIP posted year-on-year increases in 60 provinces and cities while declining in just three others, the GSO said, attributing the fast expansion in some localities to sharp rises in the processing - manufacturing sector and the production and distribution of electricity.

Those recording high index rises in the processing - manufacturing sector include Quang Ninh province 157.9 percent, Bac Giang province 57.7 percent, Nam Dinh province 56.9 percent, Vinh Long province 51.2 percent, Kien Giang province 47.7 percent, Phu Tho province 39.4 percent, and Ho Chi Minh City 26.9 percent.

Though the global economy is still facing numerous difficulties and market demand has yet to recover, the country’s IIP has continued improving thanks to producers’ efforts to seek new orders and prepare goods for the Lunar New Year (Tet) holidays, according to the GSO.

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