Vietnam's index of industrial production grows 7.2% YoY in Jan-Feb

The processing and manufacturing sector grew by 9.3 per cent during the two months, contributing 7.9 percentage points to the total growth rate.

In February, the IIP dropped by an estimated 2.2 per cent month on month (MoM), but expanded by 17.2 per cent YoY, domestic media outlets reported.

The index rose in 58 localities and decreased in five localities nationwide. Some localities saw fairly high IIPs thanks to the processing and manufacturing industry, and the electricity production and distribution industry.

The index for several key industries reflected YoY growth. The index for the leather and related products industry rose by 22.5 per cent YoY, while that for furniture production went up by 19.8 per cent YoY.

The IIP for crude oil and natural gas exploitation, however, fell by 12 per cent YoY.

ALCHEMPro News Desk (DS)