AsemconnectVietnam - Vietnam’s industrial production in August continued to grow positively.

In the first 8 months of 2024, the industrial production index was estimated to increase by 8.6% over the same period last year.
Industrial production index increased in 61 localities
According to the latest report on the socio-economic situation in August and the first 8 months of the year announced by the General Statistics Office on the morning of September 6, the industrial production in August continued its positive growth trend, with the industrial production index in August of 2024 estimated to increase by 2.0% over the previous month and by 9.5% over the same period last year. In the first 8 months of 2024, the industrial production index was estimated to increase by 8.6% over the same period last year.
The Industrial Production Index (IIP) in August of 2024 was estimated to increase by 2.0% over the previous month and by 9.5% over the same period last year. In comparison to the same period last year, the processing and manufacturing industry increased by 10.6%; the electricity production and distribution industry increased by 8.9%; the water supply, waste and wastewater management and treatment industry increased by 12.6%; the mining industry alone decreased by 1.5%.
In the first 8 months of 2024, the IIP was estimated to increase by 8.6% over the same period last year (the same period of 2023, the IIP decreased by 0.2%). Of which, the processing and manufacturing industry increased by 9.7% (the same period in 2023 decreased by 0.4%), contributing 8.4 percentage points to the overall increase; the electricity production and distribution industry increased by 11.6%, contributing 1.0 percentage point; water supply, waste and wastewater management and treatment increased by 7.8 and mining decreased by 6.0.
Notably, the production index in the first 8 months of 2024 of some key secondary industries increased sharply compared to the same period last year: the production of rubber and plastic products increased by 29.5%; the production of beds, cabinets, tables and chairs increased by 21.6%; metal ore mining increased by 19%; production of chemicals and chemical products increased by 17.8%; textiles increased by 13.4%; metal production increased by 13.2%; production of prefabricated metal products (except machinery and equipment) increased by 12.6%; production of electronic products, computers and optical products increased by 9.8%; food production and processing increased by 7.3%.
On the contrary, the IIP index of some industries increased slightly or decreased: the production of other means of transport increased by 4%; the production of beverages increased by 0.5%; exploitation of crude oil and natural gas decreased by 11.2%; repair, maintenance and installation of machinery and equipment decreased by 3.4%; mining of hard coal and lignite decreased by 3.3%; production of other non-metallic mineral products decreased by 0.6%.
The industrial production index in the first 8 months of 2024 compared to the same period last year increased in 61 localities and decreased in 02 localities nationwide. Some localities had a fairly high increase in the IIP index due to the high increase in the processing and manufacturing industry; the electricity production and distribution industry. On the contrary, some localities had a decrease in the IIP index due to the decrease in the processing and manufacturing industry; the mining industry and the electricity production and distribution industry.
In addition, the highlight is that some key industrial products in the first 8 months of 2024 increased sharply compared to the same period last year: steel bars and angle steel increased by 31%; rolled steel increased by 17.1%; natural fiber woven fabrics increased by 15.6%; diameter increased by 14.2%; gasoline and oil of all kinds increased by 12.6%; NPK mixed fertilizer increased by 12.3%; powdered milk increased by 11.2%; electricity production increased by 10.9%; processed seafood increased by 10.7%.
On the contrary, some products decreased compared to the same period last year: LPG liquefied gas decreased by 15.3%; gaseous natural gas decreased by 14.9%; crude oil decreased by 7.1%; mobile phones decreased by 5.2%; beer decreased by 3.7%; clean coal decreased by 3.4%; alumina decreased by 2.7%. To achieve this result, according to some economic experts, ministries, including the Ministry of Industry and Trade and localities have been taking drastic actions, associations, and local industries have also actively strengthened business connection activities, promoting product consumption as well as trying to do enterprises restructure, reduce costs and production prices to enhance product competitiveness, thereby improving efficiency and adapting flexibly to the new situation.
CK
Source: VITIC/congthuong.vn