The processing and manufacturing industry increased by 6.3% in four months

VCN - Continuing the recovery momentum from the end of 2023, industrial production in April and the first four months of 2024 continues to show a positive trend. Of which, the processing and manufacturing industry increased by 6.3%.
Processing and manufacturing industry attracts foreign investors Processing and manufacturing industry attracts foreign investors
Practical policies needed to Practical policies needed to "support" the processing and manufacturing industry
The processing and manufacturing industry increased by 6.3% in 4 months The processing and manufacturing industry increased by 6.3% in 4 months
Production activities of the enterprise. Photo: N.Linh
Production activities of the enterprise. Photo: N.Linh

The report on industrial production and commercial activities in April and the first four months of 2024 published recently by the Ministry of Industry and Trade shows that industrial production continues to show a positive trend when the industrial production index Industry (IIP) in April 2024 is estimated to increase by 0.8% over the previous month and by 6.3% over the same period last year. Of which, the processing and manufacturing industry increased by 7.0% over the same period last year; Electricity production and distribution increased by 11.3%; Water supply, waste and wastewater management and treatment activities increased by 6.6%; The mining industry alone decreased by 6.8%.

Some localities had a high increase in IIP in April 2024 compared to the previous month such as: Son La increased by 36.4%; Vinh Phuc increased by 17.6%; Thai Binh increased by 16.8%; Ha Giang increased by 14.2%; Kien Giang increased by 12.5%; Bac Kan increased by 11.2%; Hoa Binh increased by 9.8%; Yen Bai increased by 9.6%; Soc Trang increased by 9.5%.

Overall, for the first four months of 2024, IIP is estimated to increase by 6.0% over the same period last year (the same period in 2023 decreased by 2.5%). Of which, the processing and manufacturing industry increases by 6.3% (same period in 2023 decreases by 2.9%), contributing 5.5 percentage points to the overall increase; The electricity production and distribution industry increases by 12.3% (same period in 2023 decreases by 0.2%), contributing 1.1 percentage points; The water supply industry, waste and wastewater management and treatment activities increase by 5.3% (same period in 2023 increases by 6.2%), contributing 0.1 percentage points; The mining industry decreased by 4.6% (same period in 2023 decreased by 3.7%), causing a decrease of 0.7 percentage points.

In the first four months of the year, there were fifty four localities whose industrial production index increased compared to the same period last year, only nine localities had IIP decreased compared to the same period last year.

It is notable that the industrial production index in the first four months of 2024 of a number of key level II industries increased compared to the same period last year: production of products from rubber and plastic increased by 27.5%; Electrical equipment production increased by 24.7%; Chemical production and chemical product increased by 24.3%; Production of beds, wardrobes, tables and chairs increased by 17.3%; Metal ore exploitation increased by 16.9%; textile increased by 14.5%; printing and copying records of all types increased by 13.6%; Metal production increased by 13.0%; Production and distribution of electricity, gas, hot water, steam and air conditioning increased by 12.3%; tobacco product production increased by 9.1%; Production of paper and paper products increased by 9.0%; Production of electronic products, computers and optical products increased by 2.7%.

On the contrary, the IIP index of some industries decreased: repair, maintenance and installation of machinery and equipment decreased by 15.4%; Crude oil and natural gas exploitation decreased by 9.6%; Production of other means of transport decreased by 5.1%; Production of products from other non-metallic minerals decreased by 2.4%; Mining of hard coal and lignite decreased by 1.2%.

Some key industrial products in the first four months of 2024 increased compared to the same period last year: bar steel and angle steel increased by 35.7%; textiles made from natural fibers increased by 25.1%; Urea stool increased by 23.9%; rolled steel increased by 20.2%; N.P.K mixed fertilizer increased by 15.7%; powdered milk increased by 11.8%; Electricity production increased by 11.4%.

On the contrary, some products decreased compared to the same period last year: liquefied petroleum gas decreased by 20.4%; Gaseous natural gas decreased by 14.8%; television decreased by 11.1%; Crude iron and steel decreased by 4.5%; mobile phones decreased by 2.8%; automobiles decreased by 6.6%; motorbikes decreased by 4.5%; Beer of all kinds decreased by 5.3%; clean coal decreased by 1.2%; Aquatic feed decreased by 0.8%.

By Ngoc Linh/Quynh Lan

Related News

Finding momentum to expand markets for the processing and manufacturing industry

Finding momentum to expand markets for the processing and manufacturing industry

VCN - Although goods of the processing and manufacturing industry accounts for a major proportion of export-import turnover, it still faces many limitations. Therefore, additional solutions are needed to support production, stimulate domestic consumption, and enhance trade promotion to expand export orders.
Positive signal from industrial production in the first 7 months of the year

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.
Processing and manufacturing industry attracts foreign investors

Processing and manufacturing industry attracts foreign investors

VCN - After a long time lagging behind, Vietnam's processing and manufacturing industry has been making strong breakthroughs, and now leads in attracting foreign investment (FDI).
Paving the way for development of processing and manufacturing industry

Paving the way for development of processing and manufacturing industry

VCN – The processing and manufacturing industry has an important role in the overall growth of the economy, but its development still faces many "bottlenecks". In order to increase the added value of this industry, the Ministry of Industry and Trade is planning to build a separate law on industry and at the same time form the leading enterprises in the processing and manufacturing industry.

Latest News

US initiates investigation into pharmaceutical capsule shells imported from Việt Nam

US initiates investigation into pharmaceutical capsule shells imported from Việt Nam

Hard capsule pharmaceutical shells from Brazil, China and India are also being investigated.
UKVFTA gives advantages to Vietnamese fishery products in the UK, urging focus on quality for further expansion

UKVFTA gives advantages to Vietnamese fishery products in the UK, urging focus on quality for further expansion

To better exploit the tariff incentives from the UKVFTA, it is necessary for Vietnamese fishery producers and exporters to focus on improving quality and supply capacity to expand market share in the UK
Agricultural, forestry and fishery trade surplus value shoots up

Agricultural, forestry and fishery trade surplus value shoots up

VCN - According to the Ministry of Agriculture and Rural Development, the total export turnover of agricultural, forestry and fishery products in the first 10 months reached 51.74 billion USD, up 20.2% over the same period in 2023. Notably, the trade surplus value recorded a spectacular increase year on year.
New export and business cooperation opportunities from "dual conversion"

New export and business cooperation opportunities from "dual conversion"

VCN - According to a recent study from NielsenIQ, 16% of Vietnamese consumers consider a sustainable future as one of the important factors in their consumption decisions.

More News

VN

VN's food processing industry struggles to improve quality and value chain integration

Despite accounting for 19.1 per cent of Việt Nam’s processing sector, the food processing industry has been struggling with major issues such as poor-quality raw materials and subpar value chain integration, said industry insiders and economists.
Approach strategy of the seafood industry when implementing UKVFTA

Approach strategy of the seafood industry when implementing UKVFTA

VCN - As one of Vietnam's strong export industries to the UK, especially when the Vietnam - United Kingdom of Great Britain and Northern Ireland Free Trade Agreement (UKVFTA) comes into effect, with a detailed information approach strategy, it has created a great driving force to promote the export of Vietnamese seafood products to this market.
Mid-November: Vietnam

Mid-November: Vietnam's trade volume matches 2023 total, eyes record-breaking growth

VCN - By mid-November 2024, Vietnam's total import-export turnover reached an impressive US$681.48 billion, equaling the full-year trade figure for 2023
Vietnamese enterprises facing challenges from cross-border e-commerce platforms

Vietnamese enterprises facing challenges from cross-border e-commerce platforms

VCN – In recent years, with the rapid development of cross-border e-commerce (CBEC) platforms, domestic enterprises in Vietnam have been facing numerous difficulties and challenges.
Vietnam, Malaysia eye new milestone in trade ties

Vietnam, Malaysia eye new milestone in trade ties

The official visit to Malaysia from November 21-23 by Party General Secretary To Lam is expected to open up new opportunities for and mark a new milestone in the economic and trade cooperation between Vietnam and Malaysia. Vietnam and Malaysia are key economic, trade, and investment partners. Their economic and trade ties have steadily grown since the two nations established diplomatic relations in 1973.
Shrimp exports surge in 10 months, generating 3.2 billion USD

Shrimp exports surge in 10 months, generating 3.2 billion USD

Vietnam’s shrimp exports in October reached US$394 million, a strong 24% increase year-on-year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Vietnam’s exports to the U.S. near US$100 billion milestone

Vietnam’s exports to the U.S. near US$100 billion milestone

VCN - By the end of October, Vietnam's exports to the United States approached US$100 billion, reaffirming its position as Vietnam's largest export market.
From the “abnormal” coffee price, worries about the new crop

From the “abnormal” coffee price, worries about the new crop

VCN - The Vietnamese coffee industry enters the new crop with the question of what is a reasonable price to ensure benefits for coffee growers while still retaining international consumers.
What obstacles limit the market share of Vietnamese goods in the UK?

What obstacles limit the market share of Vietnamese goods in the UK?

VCN - Vietnamese goods account for only about 1% of total imports into the UK market. One of the reasons is that they have not yet built their own brands and have not focused on effective strategies and approaches to market information.
Read More

Your care

Latest Most read
US initiates investigation into pharmaceutical capsule shells imported from Việt Nam

US initiates investigation into pharmaceutical capsule shells imported from Việt Nam

Hard capsule pharmaceutical shells from Brazil, China and India are also being investigated.
UKVFTA gives advantages to Vietnamese fishery products in the UK, urging focus on quality for further expansion

UKVFTA gives advantages to Vietnamese fishery products in the UK, urging focus on quality for further expansion

To better exploit the tariff incentives from the UKVFTA, it is necessary for Vietnamese fishery producers and exporters to focus on improving quality and supply capacity to expand market share in the UK
Agricultural, forestry and fishery trade surplus value shoots up

Agricultural, forestry and fishery trade surplus value shoots up

VCN - According to the Ministry of Agriculture and Rural Development, the total export turnover of agricultural, forestry and fishery products in the first 10 months reached 51.74 billion USD, up 20.2% over the same period in 2023. Notably, the trade surp
New export and business cooperation opportunities from "dual conversion"

New export and business cooperation opportunities from "dual conversion"

According to a recent study from NielsenIQ, 16% of Vietnamese consumers consider a sustainable future as one of the important factors in their consumption decisions.
VN

VN's food processing industry struggles to improve quality and value chain integration

Despite accounting for 19.1 per cent of Việt Nam’s processing sector, the food processing industry has been struggling with major issues such as poor-quality raw materials and subpar value chain integration, said industry insiders and economists.
Mobile Version