(13th Congress) - In the context of the well-controlled COVID-19 pandemic in Vietnam, the effect of the EU-Vietnam Free Trade Agreement created the driving force for industries to recover and operate in new normal states, according to a socio-economic situation report of the General Statistics Office.
The index of manufacturing and processing industry still increased 4.2%
Accordingly, industrial production in November 2020 continued to flourish, especially the processing and manufacturing industry with a sharp increase of 11.9% from the same period last year.
The index of industrial production (IIP) this month witnessed an increase of 0.5% from the previous month, with 9.2% growth in comparison to the same period last year.
Specifically, the mining industry witnessed a decline of 6.2%, while power generation and distribution saw a rise of 4%. In addition, the water supply, wastewater management, and treatment sectors soared by 5.3%.
Over the past 11 months, the IPP is estimated to rise 3.1% year on year. Of the figure, the manufacturing and processing industries posted an increase of 4.7%, thereby contributing 3.8% to general growth, while the power generation and distribution sector also enjoyed a boost of 3.2%, therefore contributing 0.3 percentage points./.
BTA