The nation’s industrial production increased 4.5 percent in the first 10 months of this year compared to the same period last year, announced the General Statistics Office (GSO).
The figure represented a
slight slowdown from the 4.7 percent growth recorded in the first eight months
of this year, and was about half of the rate of growth seen in 2011, said GSO
economic expert Vu Quang Ha.
The slow growth rate was mainly attributed to low consumer demand, high inventory level of unsold goods, and a reduction or temporary halt in production by some enterprises, Ha said.
Inventory indices alone in the past 10 months of the year were at 20.3 percent, he noted.
The production fell 16.2 percent for motor vehicles, 9.9 percent for garments, and 7.1 percent for cement.
However, some industrial products managed to achieve increase in production.
Production surged 76.2 percent for batteries, 59.4 percent for shipbuilding and components, 51.6 percent for telecommunications equipment, and 21.2 percent for electronic components. Sugar production also rose by 15.2 percent.
Among specific industries, electrical generation and distribution grew by 12.8 percent during the 10-month period, while crude oil production grew by 12.1 percent, water supply and treatment by 8.7 percent and the mining industry by 3.8 percent.
The manufacturing and processing industries accounted for 70 percent of the total industrial production.
(VNS/VOV)
