Industrial production index climbs 18.3% in January

Workers produce bicycles at a factory of the Thong Nhat Joint Stock Company in Hanoi. (Photo: VNA)– The index of industrial production (IIP) in January fell 4.4% month on month but still went up 18.3% year on year, reported the General Statistics Office (GSO).In particular, the processing - manufacturing sector expanded 19.3% from a year earlier, contributing 15.1 percentage points to the overall growth.Electricity production and distribution surged by 21.6%, contributing 1.9 percentage points; water supply, waste and wastewater management and treatment up 5.7%, 0.1 percentage point; and the mining sector up 7.3%, 1.2 percentage points.Notably, the January IIP posted year-on-year increases in 60 provinces and cities while declining in just three others, the GSO said, attributing the fast expansion in some localities to sharp rises in the processing - manufacturing sector and the production and distribution of electricity.Those recording high index rises in the processing - manufacturing sector include Quang Ninh province 157.9%, Bac Giang province 57.7%, Nam Dinh province 56.9%, Vinh Long province 51.2%, Kien Giang province 47.7%, Phu Tho province 39.4%, and Ho Chi Minh City 26.9%.Though the global economy is still facing numerous difficulties and market demand has yet to recover, the country’s IIP has continued improving thanks to producers’ efforts to seek new orders and prepare goods for the Lunar New Year (Tet) holidays, according to the GSO./.

February 06, 2024 08:52 UTC


Vietnam becomes biggest importer of Argentine farm produce

A screenshot of the Infobae newspaper (Photo: VNA)A screenshots of the Acercando Naciones newspaper (Photo: VNA)- In 2023, for the second consecutive year, Vietnam surpassed China to become the largest importer of agricultural products from Argentina in terms of volume, according to Argentine media.The Infobae and Acercando Naciones newspapers cited the Rosario Grains Exchange (BCR) - the most important grain exchange floor of the country, as saying that Vietnam emerged as the largest importer of corn and soybean powder for animal feed last year with a combined volume of 5.3 million tonnes worth 2 billion USD.Regarding two-way trade, Vietnam ranked seventh among the biggest trade partners of the Latin American country in the year.Last year, the third-largest economy in Latin America exported nearly 56 million tonnes of grains and processed grain products, a decrease of over 37 million tonnes or 40% compared to 2022, marking the lowest output since 2009, primarily due to severe and prolonged drought. In 2019, Argentina set a record export volume of these items with 100.5 million tonnes.Approximately 50% of the volume of grains, processed grain products, and processed oil from seeds produced in Argentina is sold to Asian countries.The grain output of Argentina in the 2022-2023 crop reached only 83.4 million tonnes, experiencing a decline of 38%.This year, thanks to favourable climate conditions and abundant rainfall, Argentina anticipates an increase in grain production for the 2023-2024 crop, with corn output expected to reach a record level of 59 million tonnes.

February 06, 2024 03:55 UTC


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