HCMC – The Index of Industrial Production (IIP) has leapt by 8.5% in the first seven months of 2024 over the same period last year, according to the General Statistics Office (GSO).
GSO data showed strong growth in the industrial sector, driven mainly by manufacturing and electricity production. However, the mining sector has continued to face challenges as it has declined.
The manufacturing and processing sector has expanded by 9.5% in January-July, electricity production and distribution by 12.4%, and water supply and waste treatment by 7.2%. In contrast, the mining sector has edged down by 6.2%.
In July alone, the IIP has inched up by 0.7% against June and 11.2% year-on-year. The manufacturing and processing sector has picked up by 13.3%, electricity production and distribution by 9.9%, and water supply and waste management by 12.1%. The mining sector, however, has dropped by 7%.
