Industrial production keeps improving in August 2023
Vietnam’s industrial production this month continued a more positive trend, with the index of industrial production (IIP) estimated to rise by 2.9% over the previous month and 2.6% over the same period last year, the General Statistics Office (GSO) reported.
Compared to the same period last year, the processing and manufacturing industry increased by 3.5%; electricity production and distribution increased by 3.7%; and water supply, management and treatment of waste and wastewater increased by 1.8%, while the mining industry decreased by 6.2%.
However, due to the difficult situation of the world economy in the first months of 2023 that affected the results of domestic industrial production, IIP in the first eight months of 2023 decreased by 0.4% compared to the same period last year when IIP increased by 9.2%.
In which, the processing and manufacturing industry decreased by 0.6%; the electricity production and distribution increased by 1.7%; water supply industry, the waste and wastewater management and treatment activities increased by 4.8%; and the mining industry decreased by 2.5%.
In the first eight months of 2023, some key industrial sectors reported an IIP higher than the same period last year, including coke and refined petroleum products (up 9.9%); tobacco (up 8.6%); rubber and plastic products (up 8.4%); prefabricated metal products, except for machinery and equipment (up 7%); metal ore mining (up 6.5%); chemicals and chemical products (up 5.6%); and food production and processing (up 5.4%).
In contrast, the IIP of some industries decreased, such as electronic products, computers and optical products (down 3.9%); machinery and equipment (down 4.1%); non-metallic mineral products (down 4.4%); wood, bamboo, paper products (down 4.8%); apparel (down 5.1%); motor vehicle (down 6.5%).
According to the GSO’s report, 49 cities and provinces had an IIP growth in the first eight months increase while 14 other cities and provinces reported an IIP drop.
Some cities and provinces, that had the processing and manufacturing industry increase sharply in the period, were Bac Giang (up 16.4%); Phu Tho (up 15.7%); Nam Dinh (up 13.8%); Kien Giang (up 13%); Hai Phong (up 12.1%); Phu Yen (up 11.8%).
In the first eight months of 2023, a number of key industrial products increased sharply over the same period last year, including sugar (up 34.9%); fertiliser (up 14.2%); gasoline and oil (up 10.1%); television (up 10%); chemical paint (up 9.5%); cigarettes (up 8.6%); clothing (up 8.6%); and rolled steel (up 6.5%).
In contrast, a number of products decreased compared to the same period last year, including cars (down 20.4%); mobile phones (down 17.7%); bar and angle steel (down 15.5%); and motorbikes (down 7.4%).
