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Industrial output beats goals
Industrial production value in 2008 surpassed the National Assembly’s annual target by 11 percent, reaching 653 trillion VND (39.5 billion USD), reported the General Statistics Office (GSO).
Total industrial production in 2008 was 14.6 percent higher than the previous year, but still below the annual growth rate of earlier years due to the impact of the global economic crisis, the office said.
Foreign-invested enterprises topped the list, sharing 40.1 percent of the total value and registering a growth rate of 18.2 percent. Private enterprises followed with 34.5 percent of the total value and an 18.5 percent growth rate, and state-owned enterprises with 25.5 percent and 5 percent, respectively.
The GSO attributed the production surge to a strong boost of the processing and manufacturing sector, which generated 580 billion VND (35.1 billion USD), up 16 percent over last year and accounted for 88.9 percent of the total industrial production value.
Most products experiencing a high growth rate are in the processing and manufacturing sector such as processed seafood (29.1 percent), trucks (40.6 percent), buses (38.3 percent), washing machines (28 percent), electricity transformers (22.6 percent) and powdered milk (18.6 percent).
The country generated 75 billion kilowatt per hour of electricity, an increase of 12.3 percent over 2007.
Meanwhile, some of key industrial products experienced a slow growth rate as compared to a year earlier. Motorbikes saw a mere 5.5 percent increase, paper and cardboard 2.3 percent, and fertiliser 1 percent.
Some other products even experienced declines such as crude oil, down 6.6 percent to 14.8 million tonnes; coal, down 6.1 percent to 40 million tonnes; steel bar, down 10.6 percent to 3.5 million tonnes; and cotton fabric, down 1.8 percent to 242 million sq.m.
vna
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