Industrial production soars 9.7% in five months

The production of electronic products, computers and optical products posted the highest increase, ballooning 18.7% during the five-month period. The hike was mainly attributed to a rise in the production of high-end phones in February and March by electronics giant Samsung Electronics Co.Ltd.

The manufacturing sector continued to expand strongly with an increase of 11.8%, which contributed nine percentage points to the overall IIP. It was followed by the electricity production and distribution sector, which climbed 10.6%, andthe water supply and waste treatment sector,rising 6%.

The five-month IIP of almost all centrally-run provinces and cities increased compared to the same period in 2017, particularly Hai Phong, up 23.8%; Bac Ninh, up 22.2%; Thai Nguyen, up 12.1%; and VinhPhuc, up 11.7%.

The number of labourers working at industrial companies as of May 1, 2018 saw an increase of 3.8% over the same period of last year.

In May alone, the national IIP was estimated to have grown by 7.1% compared to the same month last year. Of which, the mining sector dropped by 7.6% while the manufacturing sector rose by 9.1%, the electricity production and distribution swelled by 11.2%, and the water supply and waste treatment climbed up 8.2% compared to the same period last year.