Industrial production surges in 11 months
Vietnam’s index of industrial production (IIP) went up 1% in the first 11 months of 2023 with the November IIP alone rising 5.8% year-on-year, according to the General Statistics Office (GSO).
The GSO said enterprises have made efforts to find orders to complete the year's production and business plans and prepare goods to serve consumption at the end of the year so industrial production in November continued a positive trend.
During 11 months, the manufacturing and processing sector rose 1.1%, electricity generation and distribution (3.2%), and water supply and sewerage and waste management (4.9%) compared to the same period last year. The mining sector, meanwhile, was down 2.8% year-on-year.
Key industrial sectors registering increases in IIP during the period include rubber and plastic products, up 11.8%, metal ore mining (11%), tobacco (10.5%), chemicals and chemical products (8.6%), and food production and processing (6.2%).
Some major goods also saw positive IIP growth such as sugar production rose 35%; mixed N.P.K fertiliser (14.2%); dairy products (8.4%); TVs (7%) and chemical paints (6%).
Meanwhile, the IIP of some manufacturing industries decreased such as other means of transport (9%); motor vehicles (3.6%); crude oil and natural gas exploitation (4.2%); other non-metallic mineral (3.9%); electronic product manufacturing, computers, and optical products (1.3%).
According to the GSO, 50 cities and provinces posted year-on-year growth in their IIP during the period, while 13 saw declines.
Some localities have seen a fairly high increase in the IIP due to a sharp increase in the processing and manufacturing industry, electricity production, and distribution industry including Dak Lak (33.6%), Bac Giang (20.5%), Phu Tho (17.6%), Nam Dinh (15.5%), and Hai Phong (13.5%).
The number of workers working in industrial enterprises as of November 1, 2023, increased by 1% compared to the same time last month and decreased by 0.2% compared to the same time last year.
Particularly, the number of workers in the State-owned sector and the non State-owned sector decreased by 1.4% and 2% year-on-year, respectively. The number of workers in the foreign-invested sector surged by 1% compared to last year's corresponding period.
