Industrial production index up 0.5% in ten months

Illustrative photo (Photo: VNA)

Vietnam’s index of industrial production (IIP) edged up 0.5% in the first ten months of this year with the October IIP alone rising 4.1% year-on-year, according to the General Statistics Office.

Phi Thi Huong Nga, head of the Industry and Construction Statistics Department said that although the production and business activities of enterprises in the processing, manufacturing, and mining industries are still facing difficulties, they have recovered more positively than the third quarter of 2023.

Some key industries registering increases in IIP in the first ten months of this year included rubber and plastic products (up 9.5%); tobacco (9.1%); prefabricated metal products except machinery and equipment (8.7%); metal ore exploitation (6.3%); food processing and production (6.1%); chemicals and chemical products (5.9%); water exploitation, treatment and supply (5.3%).

Meanwhile, the IIP of some manufacturing industries decreased such as other means of transport (7.3%); motor vehicles (4.1%); crude oil and natural gas exploitation (4%); other non-metallic mineral (3.7%); paper and paper products (2.7%).

Vietnam’s index of industrial production (IIP) edges up 0.5% in the first ten months of this year.

According to the GSO, compared to the same period last year, 49 localities posted increases in their IIP while 14 localities saw decreases. Some localities have seen a fairly high increase in the IIP due to a sharp increase in the processing and manufacturing industry, electricity production and distribution industry including Dak Lak (36.9%), Bac Giang (18.6%), Phu Tho (16.8%), Nam Dinh (14.4%), Kien Giang (14%) and Hai Phong (13.5%)

The number of workers working in industrial enterprises as of October 1, 2023, increased by 1.0% compared to the same time last month and decreased by 1.4% compared to the same time last year.

Particularly, the number of workers in the State-owned enterprise sector remained unchanged compared to the same time last month and decreased by 0.9% year on year. However, the number of workers in non-state enterprises increased by 0.6% and decreased by 2.8% respectively; the number in foreign-invested enterprises increased by 1.2% and decreased by 0.9% respectively./.