October index of industrial production continues to rise
The index of industrial production (IIP) in October increased 3.6 percent from the previous month and 5.4 percent against the same period last year, reported the Ministry of Industry and Trade.
Hanoi (VNA) - The index of industrial production(IIP) in October increased 3.6 percent from the previous month and 5.4 percent againstthe same period last year, reported the Ministry of Industry and Trade.
The ministry said that thanks to the effective control of theCOVID-19 pandemic, industrial production activities during the month maintainedexpansion, positively contributing to the country’s economic recovery.
However, in the first 10 months of 2020, the IIP rose 2.7percent over the same period last year, much lower than the 9.5 percentincrease in the same period in 2019.
Specifically, production of the manufacturing and processingindustry increased by 4.2 percent, contributing 3.6 percentage points to thegeneral growth, while that of electricity production and distribution rose by3.2 percent, making up 0.3 percentage point.
Meanwhile, production of the mining industry fell by 8.1percent, resulting in a decrease of 1.3 percentage points in the overallgrowth./.
The Ministry of Industry and Trade (MoIT) will focus on removing difficulties in industrial sectors in the second half of this year, especially the processing and manufacturing industry, to expand production and business.
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Illustrative image (Source: VNA) 
