IPI soars 7.9% in Jan-Sep period
10:45 | 02/10/2017

VGP – Industrial production index (IPI) posted a year-on-year surge of 7.9% in the first nine months of 2017, higher than the rates of 7.1% in the same period of 2016 and 7.2% of the first eight months, the General Statistics Office reported.

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In Q3, IPI was estimated at 9.7%, much higher than the rates of 3.9% in Q1 and 8.1% in Q2.

Processing and manufacturing industries expanded 12.8%, the highest pace over the past years, said GSO General Director Nguyen Bich Lam. He added that the processing and manufacturing sector was the brightest point in the industrial sector and made important contribution to GDP growth pace. 

In the rest of industries, electricity production and distribution went up 8.9%. Water supply and sewage treatment picked up 7.8%. Mining  suffered a sharp drop of 8.1%. 

Production of electronic products, computers, and optical products saw a year-on-year growth of 25.1%.

Some industries witnessed slow or even declining growth rates including food processing (up 6.6%); tobacco (down 2%); crude oil and natural fuel (down 10.7%).

In the first nine months, IPI expanded 25.1% in Bac Ninh province, 20.1% in Hai Phong city; and 18.1% in Thai Nguyen province.

In September, IPI was estimated to surge 13.2% against the same period last year of which the processing and manufacturing industry grew sharply by 19.5%; electricity production and distribution picked up 10.4%; water supply and sewage treatment grew 8.4%; and the mining industry dropped 6%. 

As of September 1, 2017, the inventory level of processing and manufacturing increased 9.9% against the same period last year, higher than the rate of 9% in the same period in 2016./.  

By Khanh Phuong

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