Industrial production shows continued upward trend in 34 localities
VOV.VN - Vietnam’s index of industrial production (IIP) maintained strong growth momentum, rising by 8.6% in the first seven months of the year, slightly higher than the 8.5% increase recorded a year ago, according to the National Statistics Office (NSO).
Notably, the index posted gains in 34 provinces and cities, indicating a continued upward trend across much of the country, the NGO reported on August 6.
The manufacturing and processing sector which is the main driver of overall industrial growth expanded by 10.3%, contributing 8.5 percentage points to the IIP.
Other sectors also recorded growth. Electricity production and distribution rose by 4.6%, while the water supply, waste, and wastewater management sector increased by 10.4%. In contrast, the mining sector declined by 2.7%, dragging down the overall IIP by 0.4 percentage points.
The IIP for some industries showed notable annual growth, with motor vehicle production surging by 29.9%, rubber and plastic products by 16.9%, leather and leather-made products by 15.4%.
Among the 34 localities with increased IIP, many benefited from strong performance in processing, manufacturing, and electricity production and distribution. However, in some areas, weaker growth in these sectors, as well as in mining, resulted in more modest IIP increases.
Meanwhile, employment in industrial enterprises rose steadily. As of July 1, the workforce increased by 1% compared to the previous month and by 3.9% year on year.