AsemconnectVietnam - In the first 8 months of 2024, Vietnam’s industrial production showed a positive trend, continuing to rise. The industrial production index increased in 61 localities, only decreased in 2 localities nationwide.

According to the Ministry of Industry and Trade, in the first 8 months of 2024, industrial production showed a positive trend, continuing to rise, showing that Vietnam is starting a good growth period. Industrial production maintained a positive growth momentum with the industrial production index (IIP) in August of 2024 estimated to increase by 2% compared to the previous month and by 9.5% compared to the same period last year.
In particular, compared 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 industrial production index (IIP) was estimated to increase by 8.6% over the same period last year (the same period in 2023 decreased by 0.2%). Of which, the processing and manufacturing industry increased by 9.7% (the figure of the same period of 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; the water supply, waste and wastewater management and treatment industry increased by 7.8%, contributing 0.1 percentage point; the mining industry decreased by 6.0%, and by 0.9 percentage points.
The production index in the first 8 months of 2024 of some key secondary industries increased sharply compared to the same period last year: production of rubber and plastic products increased by 29.5%; production of beds, cabinets, tables and chairs increased by 21.6%; mining of metal ores 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: Production of other means of transport increased by 4%; 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%.
Industrial production increased across the board, 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 only 2 localities nationwide. Some localities had a fairly high increase in the IIP index due to the high increase in the processing and manufacturing industry; electricity production and distribution industry.
Specifically, some localities, including key localities in industrial production, had a high increase in the production index of the processing and manufacturing industry in the first 8 months of 2024 compared to the same period last year, such as Lai Chau increased by 45.4%; Phu Tho increased by 40.0%; Bac Giang increased by 28.1%; Binh Phuoc increased by 17.2%; Thanh Hoa increased by 16.6%; Some localities have high indexes of electricity production and distribution such as: Khanh Hoa increased by 204.3%; Tra Vinh increased by 59.6%; Cao Bang increased by 44.2%; Lai Chau increased by 37.5%; Dien Bien increased by 36.8%; Son La increased by 32.7%; Thanh Hoa increased by 29.7%. On the contrary, some localities have production indexes of processing and manufacturing industry decreased compared to the same period last year such as: Ha Tinh decreased by 4.4%; Quang Ngai decreased by 3.2%; Gia Lai decreased by 1.6%.
CK
Source: VITIC/ haiquanonline.com.vn