VN industrial production keeps improving in August 2023
VN industrial production keeps improving in August 2023
Việt Nam’s industrial production this month continued a more positive trend, with the index of industrial production (IIP) estimated to rise by 2.9 per cent over the previous month and 2.6 per cent over the same period last year, the General Statistics Office (GSO) reported.
Workers manufacture products at a factory in Hà Nội. The processing and manufacturing industry decreased by 0.6 per cent in the first eight months of 2023. — Photo vneconomy.vn |
Compared to the same period last year, the processing and manufacturing industry increased by 3.5 per cent; electricity production and distribution increased by 3.7 per cent; and water supply, management and treatment of waste and wastewater increased by 1.8 per cent, while the mining industry decreased by 6.2 per cent.
However, due to the difficult situation of the world economy in the first months of 2023 that affected the results of domestic industrial production, IIP in the first eight months of 2023 decreased by 0.4 per cent compared to the same period last year when IIP increased by 9.2 per cent. In which, the processing and manufacturing industry decreased by 0.6 per cent; the electricity production and distribution increased by 1.7 per cent; water supply industry, the waste and wastewater management and treatment activities increased by 4.8 per cent; and the mining industry decreased by 2.5 per cent.
In the first eight months of 2023, some key industrial sectors reported an IIP higher than the same period last year, including coke and refined petroleum products (up 9.9 per cent); tobacco (up 8.6 per cent); rubber and plastic products (up 8.4 per cent); prefabricated metal products, except for machinery and equipment (up 7 per cent); metal ore mining (up 6.5 per cent); chemicals and chemical products (up 5.6 per cent); and food production and processing (up 5.4 per cent).
In contrast, the IIP of some industries decreased, such as electronic products, computers and optical products (down 3.9 per cent); machinery and equipment (down 4.1 per cent); non-metallic mineral products (down 4.4 per cent); wood, bamboo, paper products (down 4.8 per cent); apparel (down 5.1 per cent); motor vehicle (down 6.5 per cent).
According to the GSO’s report, 49 cities and provinces had an IIP growth in the first eight months increase while 14 other cities and provinces reported an IIP drop.
Some cities and provinces, that had the processing and manufacturing industry increase sharply in the period, were Bắc Giang (up 16.4 per cent); Phú Thọ (up 15.7 per cent); Nam Định (up 13.8 per cent); Kiên Giang (up 13 per cent); Hải Phòng (up 12.1 per cent); Phú Yên (up 11.8 per cent).
In the first eight months of 2023, a number of key industrial products increased sharply over the same period last year, including sugar (up 34.9 per cent); fertiliser (up 14.2 per cent); gasoline and oil (up 10.1 per cent); television (up 10 per cent); chemical paint (up 9.5 per cent); cigarettes (up 8.6 per cent); clothing (up 8.6 per cent); and rolled steel (up 6.5 per cent).
In contrast, a number of products decreased compared to the same period last year, including cars (down 20.4 per cent); mobile phones (down 17.7 per cent); bar and angle steel (down 15.5 per cent); and motorbikes (down 7.4 per cent).
