Industrial production grows 2.71% in first half of 2020

Sunday, 2020-07-05 15:04:03
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Manufacturing expanded by 4.96%, the lowest first-half figure of the 2011-2020 period.
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NDO - Vietnam’s industrial production grew by a modest 2.71% in the first six months of 2020 due to the impact of the coronavirus, according to the General Statistics Office.

Manufacturing expanded by 4.96%, the lowest first-half figure of the 2011-2020 period, while power generation and distribution grew by 3.04%, and water supply and waste treatment increased by 3.76%.

The mining and quarrying sector contracted 5.4% as crude oil fell sharply by 13.9% and natural gas declined by 9.1%.

But since the coronavirus crisis has been contained, various economic sectors have resumed, with industrial production starting to rebound in May.

Vietnam’s GDP expanded by 0.36% in the second quarter, meaning growth in the first half of the year was at just 1.81%.