Production Index of the Processing and Manufacturing Sector hit Record High in the Past few Years

Investment in Vietnam - Invest in Processing and Manufacturing Sector. Data updated in the first 9 months of 2017
Production Index of the Processing and Manufacturing Sector hit Record High in the Past few Years


According to the General Statistics Office of Vietnam (GSO), industrial production index in September increased by 13.2% against the same period last year, of which the processing and manufacturing sector increased high at 19.5%, electricity production and distribution increased by 10.4%, water supply and waste treatment increased by 8.4%; Particularly the mining sector continued to decline by 6%.

In the aggregate for 9 months of 2017, industrial production index increased  by 7.9%, higher than the increase of 7.1% in the same period of 2016 and  of 7.2% of 8 months this year (including 3.9% in the first quarter, 8.1% in the second quarter and 9.7% in the third quarter).

In all industries, some sectors have a 9 month manufacturing index increased high against the same period last year, such as: electronic product, computers and optical products of up 25.1% (high-value smart phones and electronic components for global exports). The third quarter increases by 45.5% (higher than the first quarter (5.9%) and 23.5% of the second quarter). It is mainly invested by Samsung Group to expand high-value electronic products with expected revenue reaching VND 1,188.5 trillion in 2017, up 17.7% over 2016;

Next, metal production increased by 21.4%, including the contribution of the newly operated Formosa Corporation (it is expected to produce 1.5 million tons of crude steel in 2017 with the turnover of VND 16.850 billion). Production of prefabricated metal products (except machinery and equipment) increased by 14.2%; Production of rubber and plastic products increased by 11.6%.

In the first nine months of this year, some major industrial products increased high against the same period last year: Television( 31.6%), iron, crude steel (28%), rolled steel (23.2%), woven fabrics from natural fibers(16.8%), urea fertilizer (15.9%). Most notably, NPK mixed fertilizer increased by 12.9%, steel bar, corner steel (11.6%), processed seafood increased (9.4%), commercial machine water (9.4%), Casual clothes usually (8.7%).

General Statistics Office also pointed out that some provinces had 9 month industrial production index higher over the same period last year, such as: Bac Ninh (25.1%), Hai Phong (20.1%), Thai Nguyen (18.1%), Hai Duong (11.2%), Vinh Phuc (10.6%), Binh Duong ( 9.5%), Da Nang (8.9%), Dong Nai province (8.3%), Ho Chi Minh City (7.8%), Can Tho ( 6.9%), Hanoi (6.7%), Quang Ninh (4.5%) ...

The number of labours working in industrial enterprises on 1 September, 2017 increased by 4.6% over the same period last year, of which state-owned enterprises decreased by 3.6%; Non-state owned enterprises increased by 1.6%; Foreign direct investment enterprises increased by 7.5%.

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