October index of industrial production continues to rise

The ministry said that thanks to the effective control of the COVID-19 pandemic, industrial production activities during the month maintained expansion, positively contributing to the country’s economic recovery.

However, in the first 10 months of 2020, the IIP rose 2.7% over the same period last year, much lower than the 9.5% increase in the same period in 2019.

Specifically, production of the manufacturing and processing industry increased by 4.2%, contributing 3.6%age points to the general growth, while that of electricity production and distribution rose by 3.2%, making up 0.3%age point.

Meanwhile, production of the mining industry fell by 8.1%, resulting in a decrease of 1.3%age points in the overall growth.