IIP growth drops
Việt Nam’s index of industrial production rose by 7.2 per cent in the first 10 months of 2016, according to the General Statistics Office. The increase was much lower than that of the same period last year due to strong decline in ore mining. In the first 10 months of last year, ore mining production saw an increase of nine per cent and crude oil and gas exploitation saw a reduction of 7.5 per cent, according to economists of GSO. However, in the first 10 months, growth was seen in processing and manufacturing (10.7 per cent), metal production (17.7 per cent), garments and textile (16.7 per cent), electronics, optical products and computers (14.1 per cent) and electricity production and distribution (11.5 per cent).
