HCM City: industrial production grows 13.74 percent month-on-month in June

July 11, 2020 | 09:19

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HCM City’s index of industrial production (IIP) in June rose 13.74 percent from the previous month, according to statistics of the municipal People’s Committee.

hcm city industrial production grows 1374 percent month on month in june

A corner of Ho Chi Minh City (Photo: VNA)

The six-month IIP was equivalent to only 96.8 percent of the figure of the same period last year.

The four key industries of electronics, food and beverages, chemicals – rubber – plastic, and mechanics expanded by 0.8 percent. The electronics industry grew at 17.7 percent and the chemical industry by 9 percent.

The electronics industry is seen to benefit from a strong and steady increase in domestic demand.

According to a report by the HCM City Computer Association, during the social distancing campaign, the demand for computer products and internet services increased sharply to serve the needs of people studying and working from home.

Besides, industries with high growth of more than 10 percent included tobacco (11.7 percent), pharmaceuticals and pharmaceutical materials (20.7 percent).

Industries with strong reductions were wood processing and wood and bamboo products (except furniture), metals, among others.

A survey by the HCM City Statistics Department of more than 16,300 enterprises in various industries found half of those affected by the pandemic saying the consumer market had shrunk.

More than half of State-owned enterprises and 48.45 per cent of foreign enterprises that regularly export said they have been unable to do so this year.

VNA

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