AsemconnectVietnam - According to the General Statistics Office, the industrial production index in 56 localities of Vietnam in the first 2 months of 2024 increased compared to the same period last year.

In the first 2 months, IIP was estimated to increase by 5.7% over the same period last year
Regarding industrial production, the General Statistics Office said that Vietnam’s industrial production in February of 2024 was estimated to decrease by 18% compared to the previous month due to the Lunar New Year holiday in February.
Industrial production
In comparison to the same period last year, the industrial production in February of 2024 decreased by 6.8%. In the first 2 months of 2024, the entire industrial production index increased by 5.7% over the same period last year.
The index of industrial production (IIP) in February of 2024 was estimated to decrease by 18% over the previous month and by 6.8% over the same period last year. Of which, the mining industry decreased by 15.3% over the same period last year; processing and manufacturing industry decreased by 6.5%; electricity production and distribution decreased by 3.6%; water supply, waste management and treatment activities, and wastewater decreased by 1.1%.
Overall, for the first 2 months of 2024, IIP was estimated to increase by 5.7% over the same period last year (the same period of 2023 the IIP decreased by 2.9%). Of which, the mining industry decreased by 3.5% (same period in 2023 the figure decreased by 2.4%), reducing the overall growth rate by 0.6 percentage points; processing and manufacturing industry increased by 5.9% (same period in 2023 the figure decreased by 3.1%), contributing 5.2 percentage points; the electricity production and distribution industry increased by 12.2% (same period in 2023 the figure decreased by 2.6%), contributing 1.1 percentage points; the water supply industry, waste and wastewater management and treatment activities increased by 2.5% (same period in 2023 the figure increased by 2.9%), contributing 0.04 percentage points.
The industrial production index in the first 2 months of 2024 of a number of key level II industries increased compared to the same period last year: the production of chemicals and chemical products increased by 27.7%; the production of coke and refined petroleum products increased by 25.3%; the production of products from rubber and plastic increased by 24.3%; the production of beds, wardrobes, tables and chairs increased by 23.4%; the production of drugs, pharmaceutical chemicals and medicinal materials increased by 23.2%; the electrical equipment production increased by 22.1%; textile increased by 17.6%; food processing production increased by 5.8%; motor vehicle production increased by 0.9%; the production of products from other non-metallic minerals increased by 0.6%.
On the contrary, the IIP index of some industries decreased compared to the same period last year: repair, maintenance and installation of machinery and equipment decreased by 21.8%; crude oil and natural gas exploitation decreased by 9.4%; beverage production decreased by 6.6%; production of electronic products, computers and optical products decreased by 2.6%; production of other means of transport decreased by 0.8%.
IIP index of key industrial products increased
The industrial production index in the first 2 months of 2024 compared to the same period last year increased in 56 localities and decreased in 7 localities across the country. Some localities have had a fairly high increase in the IIP index due to the processing and manufacturing industry; the electricity production and distribution industry increased sharply.
The industrial production index increased in 56 localities in the first 2 months of 2024
10 localities with the highest IIP growth rate
Some localities have a low increase or decrease in the IIP index due to the processing and manufacturing industries; the mining industry and the electricity production and distribution industry increased slightly or decreased.
The General Statistics Office's report also clearly showed that a number of key industrial products in the first 2 months of 2024 increased compared to the same period last year: petroleum increased by 44.7%; NPK mixed fertilizer increased by 29%; rolled steel increased by 24.1%; chemical paint increased by 22.4%; diameter increased by 21.1%; textiles made from natural fibers increased by 20.8%; bar steel and angle steel increased by 18.6%; powdered milk increased by 15.3%; electricity production increased by 12.1%.
Several products decreased compared to the same period last year: phone components decreased by 20.8%; natural gas decreased by 16.1%; television decreased by 13.7%; beer decreased by 11.5%; automobiles decreased by 9.8%; crude iron and steel decreased by 8.6%; mobile phones decreased by 6.7%.
The number of workers working in industrial enterprises as of February 1, 2024 increased by 0.3% compared to the same time last month and decreased by 0.5% compared to the same time last year. In particular, the number of employees in the State-owned enterprise sector remained unchanged compared to the previous month and decreased by 0.1% compared to the same period last year; non-state enterprises decreased by 0.1% and decreased by 2.2%; foreign-invested enterprises increased by 0.5% and 0.4%.
By industry, the number of workers working in mining enterprises decreased by 0.2% compared to the same time last month and increased by 0.9% compared to the same time last year; processing and manufacturing increased by 0.3% and decreased by 0.7%; the production and distribution of electricity, gas, hot water, steam and air conditioning remained unchanged and increased by 0.5%; water supply, waste management and treatment activities, and wastewater increased by 0.1% and 1.8%.
CK
Source: VITIC/congthuong.vn