Positive signal from industrial production in the first 7 months of the year

VCN - Industrial production in July 2023 continued to show positive signs, with a growth of 3.9% over the previous month and an increase of 3.7% over the same period last year. The above figures show that the production situation of enterprises is recording good signals.
February exports provide positive signal in Binh Duong province February exports provide positive signal in Binh Duong province
Many positive signals for the steel market Many positive signals for the steel market
Positive signals from Ho Chi Minh City's activities to stimulate demand, connect domestic consumption and export Positive signals from Ho Chi Minh City's activities to stimulate demand, connect domestic consumption and export

According to the General Statistics Office, industrial production in July was better than the previous month, estimated industrial production index in the month increased by 3.9% compared to the previous month and increased by 3.7% over the same period last year. However, the world economic situation faced many difficulties in the first months of 2023, which affected the results of domestic industrial production. In the first 7 months of 2023, the industrial production index was estimated to decrease by 0.7% over the same period last year.

The index of industrial production (IIP) in July 2023 was estimated to increase by 3.9% over the previous month and by 3.7% over the same period last year. In which, compared to the same period last year, the processing and manufacturing industry increased by 3.6%; the mining industry increased by 4%; electricity production and distribution increased by 4.1%; water supply, management, and treatment of waste and wastewater increased by 8.3%.

In the first 7 months of 2023, IIP was estimated to decrease by 0.7% compared to the same period last year (in the same period in 2022, it increased by 8.6%). In which, the processing and manufacturing industry decreased by 1% (in the same period in 2022, it increased by 9.5%), reducing by 0.7% the general growth rate by; electricity production and distribution increased by 1.4%, contributed by 0.1%; water supply industry, waste and wastewater management and treatment activities increased by 6.3%, contributing 0.1%; mining industry decreased by 1.2%, making a decrease of 0.2%.

Notably, the production index in the first 7 months of 2023 of the number of key grade-II industries increased sharply over the same period last year, such as the production of coke, and refined petroleum products increased by 12.2%; metal ore mining, and tobacco product production both increased by 8.6%; production of rubber and plastic products increased by 7.6%; waste collection, treatment, and destruction activities; scrap recycling increased by 7.3%; production of prefabricated metal products (except for machinery and equipment) increased by 6.4%.

 Industrial production has a remarkable recovery. Photo: H.Diu
Industrial production has had a remarkable recovery. Photo: H.Diu

In the opposite direction, the IIP index of some industries recorded a decrease such as wood processing and production of wood, bamboo, and cork products decreased by 6.9%; production of paper and paper products decreased by 6.8%; motor vehicle production decreased by 6.2%; apparel production decreased by 5.5%; manufacture of electronic products, computers and optical products, and production of other non-metallic mineral products also decreased by 4.3%.

The rate of increase/decrease of the industrial production index in the 7 months of 2019-2023 compared to the same period last year was: 9.4%; 2.6%; 7.6%; 8.6% and -0.7%. Industrial production index in 7 months of 2023 over the same period last year increased in 49 localities and decreased in 14 localities across the country. IIP index of some localities achieved a relatively high increase because the processing and manufacturing industries; electricity generation and distribution industries increased. On the other hand, some localities had a decrease in the IIP index because the processing and manufacturing industries; mining and electricity production and distribution decreased.

Records of the increase/decrease in the IIP index in July 2023 compared with the previous month of some large-scale industrial regions showed that: Bac Ninh increased by 23.8%; Thai Nguyen increased by 9%; Vinh Phuc increased by 5.8%; Vinh Long increased by 3%; Binh Duong increased by 2.3%; Ho Chi Minh City increased by 1.9%; Long An increased by 0.8%; Hai Phong decreased by 6.7%; Quang Ninh decreased by 1.9%; Hai Duong decreased by 1.3%.

Regarding labor, the number of employees working in industrial enterprises as of July 1, 2023, increased by 0.9% compared to the same period last month and decreased by 3.9% over the same period last year. In which, state-owned enterprises increased by 0.1% and decreased by 1.1%; non-state enterprises increased by 0.3% and decreased by 3.5%; foreign-invested enterprises increased by 1.2% and decreased by 4.4%.

For kind of industries, the number of employees working in mining enterprises increased by 0.1% over the same period last month and decreased by 0.9% over the same period last year; processing and manufacturing industries increased by 0.9% and decreased by 4.2%; electricity, gas, hot water, steam and air-conditioning production and distribution industries remained unchanged from the same period last month and down 1.9% over the same period last year; industry of water supply, waste and wastewater treatment and management activities increased by 0.1% and 1.7%.

Also according to the General Statistics Office, a number of key industrial products in the first 7 months of 2023 increased sharply compared to the same period last year such as refined sugar increased by 32.3%; mixed fertilizer N.P.K increased by 15.9%; gasoline increased by 13.2%; television increased by 11.4%; fabrics made from man-made fibers increased by 8.9%; cigarettes increased by 8.6%; chemical paint and fresh milk both increased by 6%.

One of the more positive signals for the economy in the first 7 months of that year was that the investment capital realized from the state budget in July is estimated at VND 58,500 billion, up 28.4% over the same period last year.

In the first 7 months of 2023, investment capital realized from the state budget is estimated at more than VND 291,000 billion, equalling 41.3% of the year plan and increasing by 22.1% over the same period last year (same period in 2022). by 39.7% and increased by 12.3%).

Disbursement of investment capital is estimated at VND 58,500 billion, up 28.4% over the same period last year.

By Xuan Thao/ Binh Minh

Related News

Supporting industry enterprises: Learning standards, understanding opportunities

Supporting industry enterprises: Learning standards, understanding opportunities

VCN - Currently, many potential industries have "opened" opportunities for Vietnamese enterprises to enter, such as the semiconductor industry, supporting industries for the aviation sector. However, the higher the added value of the sector, the more it requires enterprises to meet international standards.
Many cases related to production of fake food prosecuted

Many cases related to production of fake food prosecuted

VCN - The production of fake food products has become more complicated. The Environmental Crime Prevention Police Department (C05, Ministry of Public Security) has proactively taken measures to combat, prevent and prosecute many violations.
The economic situation continues to trend positively

The economic situation continues to trend positively

VCN - At the regular Government press conference for July and the first 7 months of the year held on the afternoon of August 5, Minister and Head of the Government Office Tran Van Son said that the socio-economic situation in the past 7 months continued to trend positively.
If it is "permissive", OCOP products will not be effective for export

If it is "permissive", OCOP products will not be effective for export

VCN - According to experts, if it is "permissive" in recognizing OCOP products, only caring about beautiful designs and packaging without paying attention to quality, transparency of environmental and social issues..., it will not be effective in exporting.

Latest News

Many factors affecting tuna exports in the last months of the year

Many factors affecting tuna exports in the last months of the year

VCN - Tensions between Israel and Iran escalate, tuna businesses are worried, they may have to stop export orders to the Israeli market in the last months of the year.
Vietnam still dominates Philippine rice import

Vietnam still dominates Philippine rice import

Vietnam continues to assert its dominance as the top rice exporter to the Philippines, with 2.91 million tonnes shipped as of the late October, or over 79% of the Philippines' total rice imports, according to the Vietnam Trade Office in the Philippines.
Vietnam cements ties with partners to engage in global semiconductor, AI industries

Vietnam cements ties with partners to engage in global semiconductor, AI industries

By boosting cooperation with reputable partners across the globe, Vietnam is taking steps to gain a foothold in the world’s semiconductor and artificial intelligence (AI) industries.
Aquatic exports expected to rise in year-end despite challenges

Aquatic exports expected to rise in year-end despite challenges

Aquatic exports is expected to surge in the remaining months of this year, as the year-end festive season comes, despite many challenges in the international markets, according to insiders.

More News

Trade Defense: The Key to Success for Vietnamese Businesses

Trade Defense: The Key to Success for Vietnamese Businesses

VCN - From losses and near bankruptcy, many domestic enterprises have recovered thanks to timely application of trade defense measures. Trade defense is also an effective shield for Vietnamese enterprises against a series of lawsuits from importing countries, thereby maintaining advantages and developing on "away grounds".
Lao Cai Customs sees a triple-digit surge in export-import turnover

Lao Cai Customs sees a triple-digit surge in export-import turnover

VCN - Updated from the beginning of the year to October 24, total import and export turnover through Lao Cai Customs Department increased by 102%.
Coconut is expected to become a billion-dollar export item

Coconut is expected to become a billion-dollar export item

VCN - Talking to the press at the ceremony to launch the first train carrying fresh coconuts to China, Mr. Luu Van Phi, Director of the Department of Industry and Trade of Tien Giang province, said that Vietnam's agricultural export potential, especially fresh coconuts, is expanding with the appearance of international railway transportation from Song Than station.
Plastic exporters interested in converting to recycling technology

Plastic exporters interested in converting to recycling technology

VCN - The Vietnamese plastics industry is facing major challenges in terms of plastic waste and recycling needs. Secretary General of the Vietnam Plastics Association Huynh Thi My (pictured) shared important information about the transformation in production of plastics enterprises to meet increasing export demands.
Logistics sector must embrace innovative trends to stay competitive

Logistics sector must embrace innovative trends to stay competitive

The Vietnamese logistics industry must adapt to new trends and enhance infrastructure to remain globally competitive, speakers said at an event in Ho Chi Minh City on October 31.
Vietnam’s agro-forestry-aquatic product exports likely to set new record

Vietnam’s agro-forestry-aquatic product exports likely to set new record

Vietnam’s agro-forestry-aquatic product exports are likely to achieve a record high of 62 billion USD in 2024, said Deputy Minister of Agriculture and Rural Development Phung Duc Tien.
UKVFTA greatly benefits Vietnam-UK trade: Experts

UKVFTA greatly benefits Vietnam-UK trade: Experts

The UK-Vietnam Free Trade Agreement (UKVFTA), signed into law three years ago, has clearly benefited trade cooperation between the two countries, particularly in the context of Vietnam’s exports to most other major markets declining due to geopolitical tensions and headwinds in the global economy, said experts at a conference in Hanoi on October 30.
Agricultural exports likely to exceed 60 billion USD amid challenges

Agricultural exports likely to exceed 60 billion USD amid challenges

With swift production recovery and continued growth, Vietnam's agricultural sector could potentially surpass the 60 billion USD export target, according to the Ministry of Agriculture and Rural Development (MARD).
Vietnam-Philippines trade likely to exceed 8 billion USD for first time

Vietnam-Philippines trade likely to exceed 8 billion USD for first time

With the current rising trend, trade between Vietnam and the Philippines is likely to exceed 8 billion USD for the first time to hit about 8.5 billion USD in 2024, with Vietnam’s surplus of more than 3 billion USD, according to the Vietnamese Trade Office in the Philippines.
Read More

Your care

Latest Most read
Many factors affecting tuna exports in the last months of the year

Many factors affecting tuna exports in the last months of the year

VCN - In recent years, Israel has always been Vietnam's leading tuna export market after the US and the EU. Therefore, the recent escalation of Israel-Iran tensions is affecting Vietnam's tuna exports to this market.
Vietnam still dominates Philippine rice import

Vietnam still dominates Philippine rice import

Vietnam continues to assert its dominance as the top rice exporter to the Philippines, with 2.91 million tonnes shipped as of the late October, or over 79% of the Philippines' total rice imports, according to the Vietnam Trade Office in the Philippines.
Vietnam cements ties with partners to engage in global semiconductor, AI industries

Vietnam cements ties with partners to engage in global semiconductor, AI industries

By boosting cooperation with reputable partners across the globe, Vietnam is taking steps to gain a foothold in the world’s semiconductor and artificial intelligence (AI) industries.
Aquatic exports expected to rise in year-end despite challenges

Aquatic exports expected to rise in year-end despite challenges

Aquatic exports is expected to surge in the remaining months of this year, as the year-end festive season comes, despite many challenges in the international markets, according to insiders.
Trade Defense: The Key to Success for Vietnamese Businesses

Trade Defense: The Key to Success for Vietnamese Businesses

VCN - From losses and near bankruptcy, many domestic enterprises have recovered thanks to timely application of trade defense measures. Trade defense is also an effective shield for Vietnamese enterprises against a series of lawsuits from importing countr
Mobile Version