Vietnam industrial production expansion slows in November

  • Vietnam
  • Monday, 02 Dec 2019

HANOI (ANN): The Index of Industrial Production (IIP) in November saw its lowest rise since the beginning of 2019 at 5.4 per cent, mostly due to slowdown in the mining and processing-manufacturing sectors, according to the General Statistics Office (GSO).

The IIP decreased by an estimated 1.6 per cent compared to the previous month.

The mining sector fell 5.3 per cent in November due to a 46.4 per cent reduction in production of coke and refined oil. Meanwhile, production of the processing-manufacturing sector rose 6.5 per cent thanks to a 2.1 per cent rise in electronic products, computers and optical products.

Electricity production and distribution enjoyed an increase of 7.5 per cent, while the water supply, waste and wastewater treatment sector expanded 6.3 per cent.

The GSO attributed the low growth of the IIP in November to Nghi Son Oil Refinery’s halting of operations for maintenance and low production of Samsung Bắc Ninh and Thái Nguyên.

Meanwhile, the IIP for the first 11 months of 2019 expanded 9.3 per cent year-on-year, lower than the 10 per cent growth in the same period of 2018, with processing-manufacturing sector growing 10.6 per cent.

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