Industrial production increases in ten months
Industrial production increases in ten months
Viet Nam's index of industrial production (IIP) in the first 10 months of 2022 surged 9 per cent on year, according to the General Statistics Office (GSO).
The office said industrial production continued in October 2022 to recover with an increase of 3 per cent on month and 6.3 per cent on year because enterprises were more proactive in labour and production plans, and also solved difficulties to recover and expand production.
Compared to the same period last year, the IIP growth rate in October reached 5.7 per cent for the processing and manufacturing industry; 6.3 per cent for the mining industry; 10.5 per cent for electricity production and distribution; and 15.7 per cent for water supply, and management and treatment of garbage and wastewater.
During the ten months, processing and manufacturing posted the highest IIP growth of 9.6 per cent. It was followed by electricity production and distribution (7.8 per cent), water supply industry, garbage and wastewater treatment and management (6.6 per cent) and the mining industry (5 per cent).
The GSO report also showed that, in the past ten months, IIP of some key industrial products increased sharply compared to the same period last year, including beer (34.7 per cent); processed seafood (19.1 per cent); phone components (16.5 per cent); automobiles (16.4 per cent); steel bar (15.2 per cent); chemical paint (11.1 per cent); and casual wear (10.7 per cent).
Meanwhile, some other products saw a decline of IIP compared to the same period last year, such as iron and crude steel (15.3 per cent); fertiliser NPK (5.9 per cent); mobile phones (5.1 per cent); aquatic feed (3.8 per cent); fabrics made from man-made fibers (2.3 per cent); liquefied petroleum gas (LPG) (1.5 per cent); televisions (1.4 per cent); and crude oil exploitation (1.2 per cent).
GSO also reported 61 out of 63 provinces and cities achieved growth, while the other two localities saw an IIP reduction in the first ten months of 2022.
Some localities achieved a relatively high increase in IIP due to high industrial production growth of the processing and manufacturing industries; and electricity generation and distribution industry.
Some other localities had a low IIP growth rate or reduction in this index because the enterprises in the processing and manufacturing industries did not resume growth in production as before the COVID-19 pandemic. The mining industry, and electricity generation and distribution industry saw a low IIP growth rate or reduction in this index.
The number of employees working in industrial enterprises as of October 1, 2022 increased by 0.8 per cent on month and 10.2 per cent on year, according to GSO.
