Last updated: Friday, June 14, 2013
Industrial Production Increases SharplyPosted: Wednesday, March 07, 2012
The industrial sector marked a 10% growth rate in production in February, helping it post a 22.1% rise over the same period last year, according to the Ministry of Industry and Trade.
In the first two months of 2012, the industrial sector witnessed an year-on year increase of 3.9% in production, of which the mining industry registered a growth rate of 5%, the processing and manufacturing industry, up 2.4% and the electricity, gas and water production and distribution areas, up 11.7%.
The sector’s export turnover continues to rise, especially in its major markets like the EU, Japan and the US. In February the value is estimated at US $8.2 billion, up 15.6% and 66.3% from January and the same period last year, respectively.
Export value of foreign-invested businesses is estimated to be worth US $4.6 billion (except for that from crude oil), a twofold increase year-on-year, contributing to the total export value of US $ 15.3 billion in the first two months, up 24.8%.
Of the figure, export turnover of fuel and minerals valued at US $1.58 billion, up 5.4%, and the processing industry, US $9.75 billion, up 42.1%.
Exports of transport means and spare part were up 86.4%, garment and clothing, up 25.4%, footwear, up 21%, iron and steel, up 53.4% and chemical, up 52.5%.
Total domestic retail sales in the first two months of the year soared drastically, said Head of Domestic Market Department Võ Văn Quyền.
He referred to the Consumer Price Index (CPI) that was maintained at 1.37% in February as the lowest in February in the recent ten years (only after in 2009), calling on agencies to continue keeping an eye on containing inflation.