Vietnam sees a growth rate of 8.86 percent in industrial production in 2019 (Photo: tinnhanhchungkhoan.vn) Hanoi (VNA) - The manufacturing and processing industry droveeconomic growth in 2019 with production volume increasing 11.29 percent overthe previous year, according to the General Statistics Office (GSO).
Contributing 2.33 percentage points to Vietnam’s gross domestic product growthof 7.02 percent in 2019, the manufacturing and processing industry played a keyrole in national economic development, the GSO’s Director Nguyen Bich Lam said.
GSO statistics revealed overall industrial production in 2019 rose by 8.86 percentover the previous year, contributing 2.91 percentage points to the country’sGDP growth.
Industrial production had a good year with the focus being the manufacturingand processing industry, reflecting the transition in the structure ofindustrial production going on the right track, Lam said.
Of note, the mining industry reversed its downward trend in the last threeyears, posting a slight increase of 1.29 percent. The mining industry saw adrop of 4 percent in 2016, 7.1 percent in 2017 and 3.11 percent in 2018 due todeclines in crude oil production.
The recovery of the mining industry largely came from coal production's 11.6 percentincrease.
Electricity production rose by 9.14 percent with output of 227.4 billion kWh,statistics showed.
Other sectors also saw good growth rates, such as metal production (up 28.6 percent),rubber and plastic products (14.3 percent), paper products (11.6 percent) andgarment and textile (11.4 percent).
Sales of industrial products rose 9.5 percent, slightly lower than the growthrate of more than 10 percent of 2018./.
Contributing 2.33 percentage points to Vietnam’s gross domestic product growthof 7.02 percent in 2019, the manufacturing and processing industry played a keyrole in national economic development, the GSO’s Director Nguyen Bich Lam said.
GSO statistics revealed overall industrial production in 2019 rose by 8.86 percentover the previous year, contributing 2.91 percentage points to the country’sGDP growth.
Industrial production had a good year with the focus being the manufacturingand processing industry, reflecting the transition in the structure ofindustrial production going on the right track, Lam said.
Of note, the mining industry reversed its downward trend in the last threeyears, posting a slight increase of 1.29 percent. The mining industry saw adrop of 4 percent in 2016, 7.1 percent in 2017 and 3.11 percent in 2018 due todeclines in crude oil production.
The recovery of the mining industry largely came from coal production's 11.6 percentincrease.
Electricity production rose by 9.14 percent with output of 227.4 billion kWh,statistics showed.
Other sectors also saw good growth rates, such as metal production (up 28.6 percent),rubber and plastic products (14.3 percent), paper products (11.6 percent) andgarment and textile (11.4 percent).
Sales of industrial products rose 9.5 percent, slightly lower than the growthrate of more than 10 percent of 2018./.
VNA
