COVID-19 badly hits industrial production

VGP – The manufacturing and processing industry was hardest hit by the COVID-19 outbreak as its growth rate was only 7.4%, much lower than 11.4% recorded in the same period last year, the Ministry of Industry and Trade reported.

March 05, 2020 1:34 PM GMT+7

In the first two months of 2020, industrial production index (IPI) picked up only 6.2% in comparison with the figures of 13.7% in the same period in 2018 and 9.2% in 2019.

Especially, the manufacturing and processing industry was badly affected as it expanded only 7.4% in the first two months, much lower than the rate of 11.4% in the same period last year.

In addition, the mining industry suffered a year-on-year drop of 3.7%; electricity, fuel, and water production and distribution picky up only 8.4%; water supply and sewage treatment up 4.9%./.

By Kim Loan