February industrial production index posts 7% year-on-year increase

Vietnam's industrial production index (IIP) in February increased by 7% over the same period in 2014 but decreased by 19.2% compared to the previous month due to the long Tet holiday.

According to the General Statistics Office, the IIP in the first two months of 2015 rose 12% compared to the same period last year.

Of the total industries, the mining industry saw a year-on-year increase of 9% while the manufacturing and processing industry posted a year-on-year increase of 12.9%. The electricity production and distribution industry saw a 13.3% year-on-year increase and water supply and treatment industry posted an increase of 6.5%.

In the January-February period, several industries posted higher IIP growth than of the same period last year such as motor vehicles up 44.3%, electronic products, computers and optical products up 28.3%, leather and related products up 21.1%, and textiles up 20.4% among others.

In the first two months of 2015, Thai Nguyen province recorded the highest IIP growth at 578.8% compared to the same period last year, which was mainly attributed to the increase in production of Samsung Electronics in Thai Nguyen.

It was followed by Hai Phong (up 16.9%), Quang Nam (11%), Vinh Phuc (10.5%), Quang Ninh (10.4%) and Da Nang (9.4%).

(Source: nhandan.org.vn)