Industrial production index records a 0.5% increase in the span of ten months

Vietnam’s index of industrial production (IIP) saw a 0.5% increase during the first 10 months of this year, with the October IIP alone rising by 4.1% compared to the previous year, as reported by the General Statistics Office. Phi Thi Huong Nga, the head of the Industry and Construction Statistics Department, noted that although enterprises in the processing, manufacturing, and mining industries still face challenges, their production and business activities have shown more positive recovery compared to the third quarter of 2023.

Several key industries experienced growth in the IIP during the first ten months of the year. These included rubber and plastic products (up 9.5%), tobacco (9.1%), prefabricated metal products except machinery and equipment (8.7%), metal ore exploitation (6.3%), food processing and production (6.1%), chemicals and chemical products (5.9%), and water exploitation, treatment, and supply (5.3%). However, some manufacturing industries witnessed a decrease in the IIP, such as other means of transport (7.3%), motor vehicles (4.1%), crude oil and natural gas exploitation (4%), other non-metallic minerals (3.7%), and paper and paper products (2.7%).

According to the General Statistics Office, 49 localities reported increases in their IIP compared to the same period last year, while 14 localities saw decreases. Some localities experienced significant growth in the IIP due to a sharp increase in the processing and manufacturing industry, as well as the electricity production and distribution industry. These localities include Dak Lak (36.9%), Bac Giang (18.6%), Phu Tho (16.8%), Nam Dinh (14.4%), Kien Giang (14%), and Hai Phong (13.5%).

As of October 1, 2023, the number of workers in industrial enterprises increased by 1.0% compared to the previous month but decreased by 1.4% compared to the same period last year. The number of workers in state-owned enterprises remained unchanged compared to the previous month and decreased by 0.9% year-on-year. However, the number of workers in non-state enterprises increased by 0.6% compared to the previous month but decreased by 2.8% compared to the same period last year. The number of workers in foreign-invested enterprises increased by 1.2% compared to the previous month but decreased by 0.9% compared to the same period last year.