Manufacturing, processing industry drives economic growth

HÀ NỘI – The manufacturing and processing industry drove economic growth in  二0 一 九 with production volume increasing  一 一. 二 九 per cent over the previous year, according to the General Statistics Office (GSO).

Contributing  二. 三 三 percentage points to Việt Nam’s gross domestic product growth of  七.0 二 per cent in  二0 一 九, manufacturing and processing industry played a key role in national economic development, GSO’s director Nguyễn Bích Lâm said.

GSO statistics revealed overall industrial production in  二0 一 九 rose by  八. 八 六 per cent over the previous year, contributing  二. 九 一 percentage points to the country’s GDP growth

Industrial production had a good year with the focus being the manufacturing and processing industry, reflecting the transition in the structure of industrial production going on the right track, Lâm said.

Of note, the mining industry reversed its downward trend in the last three years, posting a slight increase of  一. 二 九 per cent. The mining industry saw a drop of  四 per cent in  二0 一 六,  七. 一 per cent in  二0 一 七 and  三. 一 一 per cent in  二0 一 八 due to declines in crude oil production.

The recovery of the mining industry largely came from coal production's  一 一. 六 per cent increase.

Electricity production rose by  九. 一 四 per cent with output of  二 二 七. 四 billion kWh, statistics showed.

Other sectors also saw good growth rates, such as metal production (up  二 八. 六 per cent), rubber and plastic  products ( 一 四. 三 per cent), paper products ( 一 一. 六 per cent) and garment and textile ( 一 一. 四 per cent).

Sales of industrial products rose  九. 五 per cent, slightly lower than the growth rate of more than  一0 per cent of  二0 一 八. - VNS