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Industrial production slows down
Viet Nam's industrial production in 2011 has grown at 6.8 per cent, lower than last year, due to global economic volatility, according to the General Statistics Office.
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| A worker produces auto parts at Song Cong Ltd Co in northern Thai Nguyen Province. Viet Nam's industrial production grew by 6.8 per cent during 2011 |
The office said growth was lower than previous years, including 2009, at the peak of the global financial crisis.
Industrial production between March and October saw the lowest growth rates of the year, with the manufacturing industry rising 9.5 per cent against 12.6 per cent of 2010.
Production and distribution of power, gas and water also increased just 10 per cent, short of the 15-17 per cent mark domestic demand requires, the office noted.
The mining industry saw a decline of 0.1 per cent, despite coal production surging 2.1 per cent, crude oil 1.6 per cent and natural gas down 9.1 per cent.
"The mining industry will experience a slowing of growth over coming years due to scarcity of the nation's natural resources," the office said.
Low growth rates of industrial production were also reported for the country's two largest cities, with Ha Noi growing only 5.1 per cent and HCM City 5.4 per cent.
Consistent growth rates were reported for several cities and provinces in the country, including the northern province of Bac Ninh, which topped the list with 37.3 per cent, while Vinh Phuc, Binh Duong, Dong Nai and Can Tho also experienced a surge of more than 10 per cent.
The office said the consumption index of the manufacturing industry surged 15 per cent over the previous year, while the inventory index of the industry rose sharply by 23 per cent.
"Manufacturing industries, whose inventory indices rose sharply in 2011, include pottery, with a surge of up to 96.8 per cent; cement, up 64.1 per cent; fertiliser, up 57 per cent; plastic products, up 55.6 per cent; and paper production, up 53 per cent," noted the office.
The inventory indices of vegetable and fruit processing, tobacco, the auto industry, livestock feed, steel and iron, seafood processing and cloth production also surged sharply - between 25-49 per cent.
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