There were mixed fortunes across sectors, with processing and manufacturing witnessing an increase of 7.8 percent, electricity distribution and production 5.8 percent, and sewage disposal 5.7 percent, while mining fell 9.8 percent.
Most of the processing and manufacturing industries posted higher IIPs compared to the same time in 2020, including electronic products, computers and optical products (37.7 percent), motor vehicles (17.5 percent), electrical equipment (16.5 percent), and beverages (14.3 percent).
The IIP in February was down 23.2 percent against January and 11.4 percent year-on-year due to the seven-day break for the traditional Lunar New Year (Tet) holiday.
Since production time was reduced by one-third, processing and manufacturing – responsible for a large proportion of domestic industrial production – reported a year-on-year decline of 12.4 percent in its IIP while electricity distribution and production, sewage disposal, and mining fell 13.9 percent, 1.6 percent, and 21.6 percent, respectively.
Relevant authorities in the capital joined hands right from the beginning of the year to promote supply chain links, making significant contributions to the development of the domestic market in tandem with the campaign “Vietnamese people prioritise Vietnamese products”.