Friday, September 21, 2018 8:41:04 PM - Markets open
VN-INDEX 1,002.97 -1.77/-0.18%
HNX-INDEX 115.80 +0.74/+0.64%
UPCOM-INDEX 53.49 +0.50/+0.95%
Manufacturing and processing sector sees impressive growth in H1
Thanhnien.vn - 7/3/2018 9:47:56 AM
 (0 ratings. You must sign in to rate.)
Manufacturing and processing sector grew by 13.02 percent in the first half of 2018, the highest in seven years, contributing 2.63 percentage points to the country’s economic growth,  said Director General of the General Statistics Office (GSO) Nguyen Bich Lam. 
 
He forecast that sector will grow at a slower pace for the rest of the year than in the first half due to unfavourable weather conditions for coal mining and oil and gas exploitation. 
 
Electronics, computer, and optical products manufacturing will also slow due to an unstable export plan from Samsung. 
 
Metal manufacturing will also slow down while electric manufacturing and distribution will post lower growth due to falling public demand for electricity.
 
According to Lam, Vietnam’s gross domestic product growth hit 7.08 percent in the year’s first half.
 
Specifically, agro-forestry-fisheries grew by 3.93 percent, contributing 9.7 percentage points to the common economic growth, while services went up 6.9 percent with a 41.4-percentage-point contribution, and the industry and construction sector expanded by 9.07 percent, contributing 49 percentage points. 
 
Industry paced up 9.28 percent, much higher than the 7.01 percent and 5.42 percent from 2016 and 2017 respectively, contributing 3.05 percentage points to the country’s economic growth. 
 
The mining sector posted a minus growth, down 1.3 percent, while the construction sector maintained an expansion of 7.93 percent. 
 
Among industries, some saw higher H1 growth than the same period last year, including metal manufacturing (20.7 percent); cereal and refined petrol products (20.3 percent); electronics, computers, and optical products (17.5 percent); and medicines and pharmaceuticals (16.2 percent). 
 
However, Pham Dinh Thuy, head of the GSO’s Industrial Statistics Department, pointed out that the country’s economic growth still relies on foreign-invested firms that greatly contribute to job creation, export revenue, and State budget.-VNA
 
Read original article here
Newer News
14:14 Việt Nam helds international conference on export rice
20/09 Vietnam’s seafood exports to ASEAN expected to reach 1 billion USD soon
20/09 Vietnam’s agro-aquatic products strive to penetrate Russian market
18/09 Trade between Vietnam and India records surge
18/09 Vietnam qualified to export catfish to the US
17/09 Vietnam becomes increasingly attractive to foreign investors
14/09 Vietnam’s imported petroleum up 26.4 percent in eight months
06/09 Thai Nguyen emerges as ideal destination for foreign investors
06/09 FDI – a successful part in Vietnam’s economic development: WB economist
04/09 Vietnam’s industrial production expands 11.2 pct in 8 months
Older News
02/07 CPI grows 3.29 percent in first half of 2018
02/07 National conference on sustainable growth slated for July 5
29/06 VAT plan would hit household welfare: VEPR
29/06 Agro-forestry-fishery posts highest GDP growth in decade
29/06 Manufacturing firms perform better in Q2
29/06 Import-exports to go up by 13 percent
28/06 FDI surpasses 20 billion USD in H1
27/06 EC’s yellow card warning – big chance for fisheries sector’s restructuring
25/06 Forestry exports estimated at 4.15 billion USD
25/06 Beer competition fierce in Việt Nam
 
Newsletter Signup
Top Stories
VN Index to rise amid volatility, weak liquidity
VN stocks continue rallying
VN manufacturing PMI hits 22-month high in March
CPI goes up 4.96 percent year-on-year in first quarter
Slight rise in February CPI
Market Update
Last updated at 3:12:17 PM
VN-INDEX 1,002.97 -1.77/-0.18%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.