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Specifically, the IIP reported an increase of 7.4% in the first quarter of 2016; 9.3% in the first quarter of 2015; 5.3% in the first quarter of 2014 and 5% in the first quarter of 2013.
Explaining the reasons, Director of the GSO's National Accounts Department Ha Quang Tuyen said that the manufacturing and processing industry, which occupies a large proportion of the IIP, rose only 8.3% in the first quarter of this year, lower than 8.94% in the same period in 2016 due to the declines in the production of food and electronic products.
In addition, the mining industry fell by 11.4% over the same period of last year because Vietnam is shifting its economic growth model based on the exploitation of natural resources to less dependence on natural resources.
The exploitation of crude oil, gas and coal decreased in the first quarter of this year, which pulled down the growth of the mining industry compared to the same period in 2016.
However, several industries saw a higher production index over the previous year including metal production (up 43.4%), paper and paper products (up 11.6%) and textile production (up 11.4%), among others.
Meanwhile, the production of electrical equipment, medicine and food processing saw slight increases from 1.6-5.6%. Crude oil and gas exploitation went down by 13.6% and coal exploitation reduced by 5.5% among others.
Some provinces and cities posted high IIP, including Hai Phong (up 17.2%), Thai Nguyen (up 12.5%), Da Nang (up 10.6%) and Hai Duong (up 9.3%). The two national hubs of Hanoi and Ho Chi Minh City reported an IIP increase of 5.9-6%.
In the meantime, Can Tho, Quang Ninh, Ba Ria–Vung Tau, Bac Ninh and Quang Ngai saw an decrease from 3.3-11.7% over the same period of last year.
The GSO also announced that the inventory index by March 1, 2017 rose by 12.5% over the same period in 2016./.