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HCM City’s industrial production index up 3.4 percent in November

The November index of industrial production (IIP) in Ho Chi Minh City picked up 3.4 percent compared to the previous months, but the index for the January-November period fell 4.4 percent year on year.

According to the municipal Department of Industry and Trade, the 11-month IIP of the four key industries of manufacturing, electronics, chemicals-rubber-plastic and food processing posted a year-on-year increase of 0.4 percent.

Notably, significant hikes were seen in the electronics and chemicals industries with 19.8 percent and 5.2 percent, respectively.

The consumption index of processing and manufacturing industries in the last 11 months was down 2.3 percent compared to the same period in 2019, the department said.

Vice Director of the Department Nguyen Phuong Dong said local enterprises still faces difficulties when major trading partners have not opened their doors due to the COVID-19.

Meanwhile, the municipal Department of Statistics reported that in the first 11 months, the city’s export-import turnover increased by 1.1 percent year-on-year.

Foreign-invested area is considered the key contributor to the city’s export-import growth, with its export and import turnovers surging by 10.7 percent and 7.6 percent, respectively.

China remained the largest market for HCM City enterprises, buying over 9.7 billion USD worth of goods from the city in the period, up 28.1 percent.

VNA