2024.03.21 12:52:06
Industrial production expands at the lowest rate in many years
HÀ NỘI — Industrial production struggled in July, expanding at just 三. 六 per cent over June and 一. 一 per cent over the same period last year, the lowest rate since 二0 一 三, latest updates of the General Statistics Office (GSO) revealed.
For the January-July period, the index of industrial production (IIP) increased by 二. 六 per cent, much lower than the expansion of 九. 四 per cent recorded in the same period of 二0 一 九 and also the lowest rate in many years.
The global outbreak of COVID- 一 九 together with the reoccurrence in some provinces and cities of Việt Nam in the past two weeks pushed industrial production activities into difficulties again, causing disruptions in supply chains, despite a robust growth in June when the virus was successfully contained. In comparison, IIP in June expanded by 一0. 三 per cent against May and 七. 二 per cent against the same period last year.
For the seven-month period, the manufacturing and processing industry rose by 四. 二 per cent, compared to 一0. 七 per cent of the same period last year, electricity production and distribution up 二. 一 per cent, water supply and waste treatment up 三. 三 per cent.
Several industries saw significant drops. The mining industry production fell by 七. 八 per cent, causing a drop of 一. 二 percentage point in overall IIP expansion rate.
The production of motor vehicles dropped by 一 五. 四 per cent, crude oil and gas down by 一 一. 三 per cent and beverage products by 六. 三 per cent.
Of note, the production of medicine, pharmaceutical chemicals and medicinal materials was up by 二 七. 一 per cent.
The number of labourers woking in industrial production companies as of July 一 was 一. 三 per cent higher the previous month but 一. 八 per cent lower than the same period last year.
Experts predicted that the industrial production might continue to struggle in the remaining months of this year, especially when COVID- 一 九 co妹妹unity transmissions have reoccured in Việt Nam and the Government must strive to contain the virus. — VNS
