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The Industrial stockpiles continue to decreasemanufacturing and processing industry’s inventory index continues to fall thanks to higher domestic consumption, said Deputy Minister of Industry and Trade Ho Thi Kim Thoa.

The ministry’s figures indicated that July’s index ended 8.8 percent above last July’s but decreased by 0.9 percent against June.

Sales have increased in commodities such as urea feritliser (up 41.3 percent) motorcycles (19 percent), cement (14.2 percent), footwear (11.9 percent) and garments (8.6 percent).

Sectors with higher drop in inventories included electronic components (down 75.2 percent), communication devises (down 76.9 percent), automobile manufacturing (down 38.1 percent), cement production (down 33.7 percent), woven production (down 32.3 percent) and footwear (down 19.2 percent).

However, some production sectors posted inventory indexes with high growth, such as sugar (up 49.6 percent), beer (up 33.3 percent) and batteries (up 37.7 percent).

In July, the index of industrial production (IIP) surged by 5.2 percent and the consumption index for the processing and manufacturing sector also jumped 8.3 percent year-on-year.

Source: VNA

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