Industrial production in February 2021 is estimated to decrease over the previous month and the same period last year due to the number of working days of February this year was less than 8 days[1] and the effects of Covid-19 pandemic in some provinces. However, industrial production in January 2021 increased significantly compared to January 2020 (up by 22.5%), so for the first 2 months of 2021, the index of industrial production of the whole industry increased by 7.4% compared to the same period last year.
The index of industrial production (IIP) in February 2021 is estimated to decrease by 21.1% from the previous month and to decrease by 7.2% from the same period last year, of which the mining industry fell by 18.5% and 23% reduction; processing and manufacturing decreased 23.1% and 5.8%; electricity production and distribution went down by 9.8% and 2.3%; water supply, waste and wastewater management and treatment dropped by 8.7% and increased by 0.1%.
Overall for the first 2 months of 2021, the IIP is estimated to increase by 7.4% over the same period last year. In which, the manufacturing rosed by 10.4% (increased by 7.1% in the same period last year), contributing 8 percentage points to the general growth; electricity production and distribution went up by 4.3% (same period last year rose 7%), contributed 0.7 percentage points; water supply, waste and wastewater management and treatment by peaked up by 4.8% (increased by 4.6% in the same period last year), contributing 0.4 percentage points; the mining industry alone shrank by 11% (decreased by 2.7% in the same period last year), down by 1.7 percentage points in the general growth rate.
In 2-digit industrial activities, the index of production in 2 months 2021 of some key activities significantly increased compared to the same period last year: Manufacture of basic metal (30%); manufacture of computer, electronic and optical products (21.2%); electrical equipment (17.5%); Mining of metal ores (14.9%); Manufacture of other non-metallic mineral products (11.9%); Manufacture of machinery and equipment n.e.c (10.6%); manufacture of furniture (10.4%); Manufacture of motor vehicles; trailers and semi-trailers (10.2%); Manufacture of paper and paper products (10.1%); Waste collection, treatment and disposal activities; materials recovery (9.6%); Manufacture of fabricated metal products, except machinery and equipment (8.2%). From the opposite side, IIP of some industries decreased: Manufacture of other transport equipment (1.7%); Manufacture of coke and refined petroleum products (5%); Sewerage and sewer treatment activities (5.1%); Printing and reproduction of recorded media ((7.4%); Mining of coal and lignite (8.6%); Mining support service activities (13.5%); Extraction of crude petroleum and natural gas (15.6%).
In the first 2 months of this year, the production of some main industrial products increased significantly over the same period last year: Televisions (61.5%); telephones accessories (55.7%); Laminated steel (47.3%); Crude steel, iron (20.1%); powder milk (17.5%); cement (14%); chemical pain 12.8%); NPK fertilizer (10.8%); automobiles (9.9%); Textile fabric from polyester or artificial yarn (9.3%); beer of all kinds (8.3%); fresh milk (7.9%). However, a number of products showed a sharp decrease in the production: Animal feed (0.3%); leather footwear (0.5%); Processed fishery products (1.2%); Aquatic feed (3.6%); Urea fertilizer (5.1%); refined sugar (6%); Steel bars and corners (6.7%); pure coal (8.7%); Extracted crude oil (10.8%); Natural gas (in the form of air) (19.9%); Petroleum (55%).
The number of employees working in industrial enterprises as of February 1, 2021 increased by 0.3% over the same period last month and decreased by 2.4% from the same period last year, of which the number of working employees in the state-owned enterprise sector remained unchanged and decreased by 1.9%; non-state enterprises increased by 0.1% and decreased by 4%; enterprises of foreign direct investment rose by 0.4% and went down by 1.8%. By industry, the number of employees working in mining and quarrying dropped by 0.1% over the same period last month and fell by 1.8% against the same period last year; processing and manufacturing peaked up by 0.3% and down by 2.5%; the production and distribution of electricity remained unchanged and rose by 0.8%; the water supply, sewerage, waste management and remediation activities kept unchanged and decreased by 1.6%.
[1] This year’s Lunner New Year is concentrated in February, while the Lunner New Year of the previous year took place in late January.