AsemconnectVietnam - In 2024, the industrial production index was estimated to increase by 8.4% compared to the previous year, the highest increase since 2020.

Industrial production index was estimated to increase by 8.4%
According to the information just released by the General Statistics Office, industrial production in the fourth quarter of 2024 continued the positive growth trend, with an estimated industrial production index increasing by 7.9% over the same period last year. In general, in 2024, the industrial production index increased the highest since 2020, estimated at 8.4%.
In particular, the processing and manufacturing industry increased by 9.6% (in 2023, it increased by 1.5%), contributing 8.4 percentage points to the overall increase; the electricity production and distribution industry increased by 9.5%, contributing 0.8 percentage points; Water supply, waste and wastewater management and treatment increased by 10.7%, contributing 0.2 percentage points; mining decreased by 6.5%, reducing the overall growth rate by 1.0 percentage points.
Industrial production index increased the most in 4 years
The industrial production index of some key secondary industries increased sharply, such as the production of rubber and plastic products increased by 24.9%; production of beds, cabinets, tables and chairs increased by 23.8%; the production of motor vehicles increased by 21.1%; production of leather and related products increased by 13.7%; the production of coke and refined petroleum products increased by 12.6%; the textiles increased by 12.1%; production of chemicals and chemical products and production of electrical equipment both increased by 11.9%; the production of electronic products, computers and optical products increased by 8.3%; food processing increased by 7.4%.
On the contrary, the IIP index of some industries increased slightly or decreased, such as the beverage production increased by 1.4%; production of other non-metallic mineral products increased by 0.9%; crude oil and natural gas exploitation decreased by 10.9%; hard coal and lignite mining decreased by 5.5%; repair, maintenance and installation of machinery and equipment decreased by 5.1%.
The consumption index of the entire processing and manufacturing industry in December of 2024 decreased by 5.1% compared to the previous month and increased by 0.8% compared to the same period last year. In general, in 2024, the consumption index of the entire processing and manufacturing industry increased by 11.3% compared to 2023 (the previous year increased by 1.6%).
The inventory index of the entire processing and manufacturing industry as of December 31, 2024 was estimated to increase by 10.0% compared to the same period last month and increase by 10.6% compared to the same period last year (the same period last year increased by 19.8%). The average inventory ratio of the entire processing and manufacturing industry in 2024 was 77.1% (in 2023 it was 88.0%). The number of employees working in industrial enterprises as of December 1, 2024 increased by 0.8% compared to the same period last month and increased by 3.2% compared to the same period last year.
CK
Source: VITIC/congthuong.vn