Industrial Production Recovers (13/3)
14/03/2012 - 12 Lượt xem
According
to statistics from the Ministry of Industry and Trade (MoIT), the Index
of Industrial Production (IIP) in February 2012 rose 10 percent over
January 2012 and surged 22.1 percent from the same period of 2011.
Compared
to the previous month, mining grew 0.1 percent; processing and
manufacturing industries 14.9 percent; and power, gas and water
production and distribution 6.1 percent.
Compared
to the same month last year, mining grew 14.8 percent; processing and
manufacturing industries 25 percent; and power, gas and water
production and distribution 24.5 percent.
The
country's industrial production in the first two months has grown 3.9
percent compared to the same period last year, with 5 percent increase
in mining; processing and manufacturing industries 2.4 percent; and
power, gas and water production and distribution 11.7 percent.
On the whole, industrial production has recovered since February after a heavy downturn in previous months.
Some
industries have gained momentum and accelerated including power
production with a 12.8 percent increase; clean coal production 4.8
percent increase; liquefied petroleum gas 34.4 percent; crude oil 11.6
percent; and cotton fabric 6.4 percent.
Sufficient
supplies of raw materials were crucial for a stably increase in
industrial production in the first two months. Apart from abundant
sources of materials, markets for industrial products were also
favorable, with increased export values to major markets including
European Union (EU), Japan and the US. In February alone, the country's
export value reached US$8.2 billion, 15.6 percent higher than that in
the previous month and a 66.3 percent increase over the same month last
year.
The
country's industrial export value in the first two months totaled
nearly US$15.3 billion, marking a 24.8 percent increase compared to the
same period last year. Processed exports accounted for 9.75 billion
in total export value, marking a 42.1 percent increase, and made up
63.8 percent in its total export volume. Additionally, exports of
telephones, cellular phones and other components nearly tripled in
export value; transport vehicles and spare-parts increased 86.4
percent; machinery and equipment also increased 56.5 percent.
Vietnam
has gradually switched from exporting raw materials and agricultural
products to industrial products in recent months, which means that the
role the latter has become increasingly important in the country's
economic structure.
However,
global economic depression still remains, affecting all component
economies worldwide, and Vietnam is not exceptional. The domestic
demand of goods and services has shrunk, with the total value of goods
and services in circulation in February reaching VND186.5 trillion, a
3.8 percent decrease compared to the previous month.
Industry
and Trade Deputy Minister Nguyen Nam Hai said that conventional export
markets were economically difficult. For example, European countries
were coping with public debts, the US with high inflation, Japan with
economic depression resulting from the natural calamities last year. It
was necessary to have more incentive policies for enterprises having
managed to export to these markets.
According
to Domestic Market Department Director Vo Van Quyen, MoIT will consider
promulgated policies including export and production credit, and
continue launching "Vietnamese to buy local" campaigns so as to boost
up domestic consumption. In addition, domestic enterprises should apply
drastic measures such as cutting production cost, and integrate new
technology into production lines in order to increase their output.
Source: VEN.
Source: VEN.
