Industrial sector reports low growth rate

The nation’s industrial output in the first two months of the year has increased by just 2.5 percent from one year ago compared to a 16.3 percent growth in the same period last year. 

The sector reported a two-month production value of just over 106 trillion VND.

The slight increase was due to the modest rises of 6.6 percent and 3.3 percent in the non-state sector and foreign-invested sector, respectively, and a 4.4 percent fall in the state sector. 

One of the major reasons leading to the low growth rate is the decrease of domestic demand and difficulties in export activities.

Many products saw sharp drops in the past two months. The production of air conditioner decreased by 64.1 percent, auto tyre, 53.4 percent, glass, 50.5 percent, and ceramic tiles 30.2 percent.

Despite the overall gloomy situation, some localities managed to post fairly high industrial growth rate, including northern Thanh Hoa province with 18.4 percent, northern Hai Phong port city, 10.4 percent, southern Can Tho city, 10.3 percent, northern Dong Nai province, 9.9 percent and Hanoi, 8.5 percent.

VietNamNet/VNA

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