Industrial production grew on a large scale

Industrial production continues to recover and grow. Photo: N.Linh

Assessing the industrial production situation in the first five months of the year, the Ministry of Industry and Trade said that IIP is estimated to increase by 6.8 percent compared to the same period last year (the same period in 2023 decreased by 2.0 percent).

Of which, the processing and manufacturing industry increases by 7.3 percent (same period in 2023 decreases by 2.6 percent), contributing 6.4 percentage points to the overall increase; the electricity production and distribution industry increases by 12.7 percent (same period in 2023 increases by 1.2 percent), contributing 1.1 percentage points; the water supply industry, waste and wastewater management and treatment activities increase by 6.3 percent (same period in 2023 increases by 5.9 percent), contributing 0.1 percentage points; the mining industry alone will decrease by 5.2 percent (the same period in 2023 will decrease by 2.4 percent), reducing the overall increase by 0.8 percentage points.

Industrial production grew on a large scale with 55 localities having an increase in industrial production index compared to the same period last year, only 8 localities had a decrease in IIP compared to the same period last year.

Among them, some localities had a good increase in the IIP index due to: the processing and manufacturing industry increased compared to the same period last year such as: Phu Tho increased by 31.2 percent; Bac Giang increased by 24.9 percent; Binh Phuoc increased by 14.8 percent; Ha Nam increased by 14.5 percent; Hai Phong increased by 14.4 percent; the electricity production and distribution industry increased compared to the same period last year, such as: Khanh Hoa increased 5.4 times; Tra Vinh increased by 95.9 percent; Thanh Hoa increased by 33.3 percent; Hai Duong increased by 21.1 percent; Hai Phong increased by 17.2 percent; Phu Tho increased by 15.0 percent; Bac Giang increased by 14.6 percent.

On the contrary, some localities had a decrease in IIP index due to: the processing and manufacturing industry increased slightly or decreased compared to the same period last year such as: Ha Giang increased by 0.4 percent; Bac Ninh increased by 0.05 percent; Ha Tinh decreased by 9.0 percent; Quang Ngai decreased by 8.2 percent; Ca Mau decreased by 2.5 percent; the electricity production and distribution industry decreased compared to the same period last year, such as: Son La decreased by 40.1 percent; Hoa Binh decreased by 27.7 percent; Quang Ngai decreased by 19.9 percent; Lam Dong decreased by 9.3 percent; Gia Lai decreased by 4.1 percent.

Notably, the production index in the first five months of 2024 of a number of key level II industries increased compared to the same period last year, of which the production of rubber and plastic products increased by 27.4 percent; electrical equipment production increased by 24.0 percent; chemical and chemical product production increased by 20.1 percent; production of beds, wardrobes, tables and chairs increased by 19.6 percent; metal production increased by 13.2 percent; The textile industry and the production and distribution of electricity, gas, hot water, steam and air conditioning both increased by 12.7 percent.

On the contrary, the IIP of some industries increased lower than the general average or decreased compared to the same period last year such as: manufacturing of electronic products, computers and optical products increased by 5.8 percent; food processing production increased by 5.4 percent; repair, maintenance and installation of machinery and equipment decreased by 11.8 percent; crude oil and natural gas exploitation decreased by 11.0 percent; production of other means of transport decreased by 5.1 percent; production of other non-metallic mineral products decreased by 1.7 percent; mining of hard coal and lignite decreased by 1.3 percent.

According to the Ministry of Industry and Trade, a number of key industrial products in the first five months of 2024 increased compared to the same period last year. For example, bar steel and angle steel increased by 33.8 percent; textiles made from natural fibers increased by 20.2 percent; smart watches increased by 19.7 percent; rolled steel increased by 18.0 percent; urea stool increased by 14.6 percent; N.P.K mixed fertilizer increased by 12.6 percent.

On the contrary, some products decreased compared to the same period last year: liquefied petroleum gas (LPG) decreased by 21.2 percent; gaseous natural gas decreased by 15.6 percent; television decreased by 10.4 percent; crude oil exploitation decreased by 5.6 percent; crude iron and steel decreased by 5.2 percent.