HANOI, May 10 (Xinhua) -- Vietnam's industrial output in the January- April period fell 1.8 percent from a year earlier, against a 7.5-percent year-on-year expansion in the same period last year mainly due to a slump in exports, highlighting the shock to external demand from a slowing global economy, Vietnam News reported on Wednesday.
The Southeast Asian country reported a 13-percent decline in smartphone output to 61.3 million units in the first four months from a year ago, while shipments of smartphones, the largest export earner for Vietnam, dipped 17.3 percent to 17.4 billion U.S. dollars, the General Statistics Office said.
Reflecting the production contraction, year-on-year exports of furniture, clothing and footwear in the period plunged 31.3 percent, 19.3 percent and 16.3 percent, respectively, official data showed.
Overall exports in the January-April period fell 11.8 percent from a year ago to 108.6 billion U.S. dollars, said the statistics department.
However, Vietnam's factory activity downturn has shown signs of slowing after its industrial production in April rose 3.6 percent from March and inched up 0.5 percent from a year before, according to the General Statistics Office.
The government said it would support businesses, especially small- and medium-sized companies, through solutions such as extension of deadline for tax payments and for submission of annual rental fees, and easier access to bank loans.
The World Bank forecast that after the strong rebound in 2022, growth in Vietnam would moderate as the country continues to face major external headwinds on the demand side with its export-orientated manufacturers reporting shrinking orders on fears of a possible global recession.
The World Bank expected Vietnam's economic growth to be at 6.3 percent this year, down from 8.02 percent in 2022. ■