Industrial Production Hits Nearly VND 56 trillion in Sep. 2008

According to figures released by the Ministry of Industry and Commerce, industrial production values reached an estimated VND 56 trillion in September, 2008, a 0.1% increase against the previous month and a 15.2% increase year on year.

Of this, state-owned businesses saw a 6.4% increase, non-state owned businesses saw a 19.3% increase and businesses with FDI capital saw a 17.5% increase year on year (crude oil decreased by 9.8%, while other sectors increased by 20.3%.)

All together, industrial production was an estimated VND 493.19 trillion in the first nine months this year, a 16% increase year on year.

Specifically, in the first nine months of this year, products and sectors achieving higher growth than the common yearly target (16.3%) were: processed seafood products by 24.6%, feed for poultry and cattle by 17.2%, feed for fish farms by 19.1%, powdered milk by 29.4%, clothing by 22.8% and automotive\motorcycles by 69.1%.

On the other hand, several products and sectors with already low industrial production values and which achieved lower growth than the common yearly target were: coal, natural gas, refined vegetable oil and electricity power production.

In the first nine months this year, provinces and cities posting higher or equal industrial production values to the common yearly target included: Haiphong, Vinh Phuc, Hai Duong, Binh Duong and Dong Nai. (CPV)