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Thursday, June 13, 2024

Vietnam’s IIP grows by 6% in Jan-April

By Truc Dao

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HCMC – Vietnam’s index of industrial production (IIP) in January-April has improved by 6% year-on-year, with 54 out of the nation’s 63 centrally-run provinces and cities posting a higher IIP, according to the General Statistics Office (GSO).

In April alone, the index has expanded by 6.3% compared to the same period last year.

Manufacturing and processing have grown by 7%, electricity production and distribution by 11.3%, and water supply and waste treatment by 6.6%. But the mining sector has declined by 6.8%.

In the first four months of 2024, the manufacturing and processing sector has expanded by 6.3%, electricity production and distribution by 12.3%, and water supply, waste, and wastewater management by 5.3%. However, the mining sector has dropped by 4.6%.

Several industries have posted double-digit growth against the year-earlier period, including rubber and plastic product manufacturing (27.5%), electrical equipment manufacturing (24.7%), chemical production and chemical product manufacturing (24.3%), and furniture (17.3%).

However, industries such as repair, maintenance, and installation of machinery and equipment, crude oil and natural gas extraction, and production of other means of transport have slid during the same period.

Among the 63 cities and provinces, 54 have seen a rise in IIP, while nine have reported a fall.

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