The index grew 9.1%, compared with 5.3% in the first
quarter last year and 4.9% in 2013.
GSO analysts attributed the improvement to the
industrial consumption index's strong growth in the first two months of
this year. It rose 14.7% on the year, much more than last year’s 4.3%
during the same period.
The processing and manufacturing sector, which
contributed more than three fourths of overall growth, increased 9.6%, as
opposed to 7.4% in Q1 last year.
About 61.5 million mobile phones were produced during
the first quarter, doubling last year's output. Meanwhile, production of
powdered milk fell by 16.8%.
Other industrial products posting high IIP increases
during Q1 included automobiles (52.6%), television sets (38.6%), fish food
(27.4%), chemical paint (17.2%), leather and footwear (16.3%), fresh milk
(16.2%), rolled steel (12.4%) and petroleum (9.8%).
Products with low IIP included aquatic products and
seafood (8.9%), cement (5.9%), coal (3.2%) and natural gas (0.2%).
Sectors with decreased IIP included sugar (-0.1%),
clothes (-0.3%), liquefied gas (-6.5%) and motorbikes (-11.8%).
The country’s IIP increase is still low compared with
increases of 14-16.17% before the world economic downturn.
GSO analysts attributed the slower growth to low
product competitiveness. Fake versions of domestic products were sold at
much lower prices.
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