The National Statistics Office (NSO) said on April 4 that the Index of Industrial Production (IIP) rose 18.8% month on month and 6.9% year on year in March, signalling sustained momentum.

For the quarter, processing and manufacturing grew 9.7%, contributing the bulk of overall growth, while electricity production and distribution rose 6.3% and mining increased 4.7%.

Growth was broad-based across key industries, with sharp increases in metal production (up 22.9%), non-metallic minerals (19.7%), chemicals (18.2%) and automobile manufacturing (14.7%). Meanwhile, some sectors such as coal mining (down 4.8%) and mobile phone production (down 6.6%) saw declines.

Industrial expansion was seen nationwide, with all 34 provinces and cities reporting higher output, largely supported by manufacturing and energy production.

Key industrial products saw strong growth in Q1, led by motorcycles (up 31.6%), processed seafood (23.4%), steel (around 20%), chemical paints (19.2%) and automobiles (18.5%). Powdered milk and crude steel also recorded double-digit growth.

However, declines were recorded in urea (down 9.6%), mobile phones (6.6%), NPK fertiliser (5.4%), coal (4.9%) and natural fibre fabrics (3.5%).

A key highlight was the improving balance between production and demand. Consumption in the manufacturing sector rose 9.5% year on year, while the inventory ratio fell to 84.8% from 90.0% a year earlier, indicating stronger market absorption.

The industrial labour market also showed positive signs, with employment in the sector rising 1.1% month on month and 2.4% year on year, led by growth in foreign-invested enterprises.

Ho Chi Minh City’s IIP rises 2.1% in two-month period

VOV.VN - The opening two months of the year witnessed Ho Chi Minh City’s Index of Industrial Production (IIP) surge by 2.1% on-year, according to the municipal Department of Statistics.