All 34 Vietnamese localities report hikes in industrial output in Q3

All 34 Vietnamese localities report hikes in industrial output in Q3

Việt Nam's industrial index of production (IIP) jumped 10 per cent year-on-year in the third quarter of this year, with gains recorded in all 34 localities.

Footwear production for export at the Vĩnh Hòa Hưng Nam Industrial Cluster, An Giang province. VNA/VNS Photo

Việt Nam's industrial index of production (IIP) jumped 10 per cent year-on-year in the third quarter of this year, with gains recorded in all 34 localities, reported the Ministry of Finance's National Statistics Office (NSO).

Manufacturing and processing, the main engine, climbed 10.2 per cent, mining gained 8.2 per cent, electricity production and distribution rose 9.8 per cent, and water supply and waste treatment increased 5.3 per cent.

Over the first nine months, the index advanced 9.1 per cent, topping 8.4 per cent a year earlier. Manufacturing grew 10.4 per cent (versus 9.6 per cent in 2024), electricity expanded 6.1 per cent (versus 10.8 per cent), water supply rose 8.8 per cent (versus 9.7 per cent), and mining eked out 0.1 per cent growth after a 6.9 per cent decline last year.

Laggards included beverages, up just 3.8 per cent, and crude oil and natural gas extraction, down 4.7 per cent.

Manufacturing consumption edged 0.1 per cent higher month-on-month and 9.3 per cent year-on-year in September. For the nine months, it rose 9.1 per cent, trailing the 12.5 per cent surge a year ago.

Manufacturing inventories as of September 30 climbed 4.9 per cent month-on-month and 13.3 per cent year-on-year, versus an 8.5 per cent increase in the same period last year. The nine-month average inventory ratio hit 82.3 per cent, up from 76.8 per cent last year.

The workforce in industrial enterprises as of September 1 had grew 1.2 per cent from the previous month and 4.5 per cent year-on-year. Employment in state-owned firms rose 2.6 per cent, non-state companies 2.9 per cent, and foreign-invested firms 5.2 per cent.

Hà Nội's industrial output held firm, up 6.7 per cent in the first nine months, beating the 5.4 per cent gain a year earlier. Manufacturing rose 6.9 per cent, water and waste treatment 6.6 per cent, and electricity 5.4 per cent, while mining dropped 3.5 per cent.

The performance showed the effective impact of local business support and a shift to a green, innovative, sustainable industrial model.

Authorities expect industrial production to hold steady through late this year, fueled by the streamlined local administration model, the anti-counterfeit drive, faster public investment, and rising FDI inflows into real estate raised demand for cement and steel.

With the above advantages, the NSO believes that Việt Nam's industrial production will basically continue to grow in the last months of this year, despite having to deal with many global challenges and costs. 

Bizhub