Industrial production soars 9.7% in five months

Illustration photo

The production of electronic products, computers and optical products posted the highest increase, ballooning 18.7% during the five-month period.

The hike was mainly attributed to a rise in the production of high-end phones in February and March by electronics giant Samsung Electronics Co.Ltd.

Consequently, manufacturing and processing continued its high growth rate of 11.8%, contributing 9 percentage point to the overall growth, albeit at a slower growth rate (growth rate in the first two months of 15.5%; in three months of 14.1% and in four months of 12.5%); electricity production and distribution up 10.6%, contributing 0.9 percentage point; water provision and waste treatment up 6%, accounting 0.1 percentage point; mining down 2.2% or 0.3 percentage point of the overall growth. 

The five-month IIP of almost all centrally-run provinces and cities increased compared to the same period in 2017, particularly Hai Phong; Bac Ninh; Thai Nguyen, and Vinh Phuc.

The number of workforce working in industrial enterprises as at May 1 has increased 3.8% year on year. 

In May, the industrial production index is estimated at 7.1% growth rate year on year, while mining was down 7.6%; manufacturing and processing up 9.1%; electricity production and distribution up 11.2%; and the water supply and waste treatment up 8.2% compared to the same period last year.

                                                                                                                         By Vien Nhu