Industrial output rises 11.9% in Jan-Aug, fastest eight-month growth in years

Industrial output rises 11.9% in Jan-Aug, fastest eight-month growth in years

The rise in industrial production across all 34 localities in recent months showed the sector was regaining momentum.

A factory in Ninh Bình Province. The province's IIP rose 26 per cent year-on-year in the first eight months of this year, ranking among the country's top-performing localities. — VNA/VNS Photo

The index of industrial production (IIP) rose 14.4 per cent in August from a year earlier, marking fastest eight-month growth in years, Government data showed on Thursday.

The IIP increased 11.9 per cent in January-August from the same period last year, according to the National Statistics Office under the Ministry of Finance.

During the period, manufacturing and processing - the country's main industrial sector -  surged 12.5 per cent and contributing 9.6 percentage points to overall industrial growth.

Mining and quarrying rose 8.1 per cent while electricity production and distribution increased 10.1 per cent.

Among major industrial sectors, metal production rose 22 per cent in the first eight months, followed by beverages (16 per cent), motor vehicles (16 per cent), electrical equipment (15 per cent) and electronics, computers and optical products (14 per cent).

Motorcycle production rose 28 per cent, laptop production up 26 per cent and automobile production  up 24 per cent during the period, while rolled steel output increased 24 per cent.

Industrial output increased year-on-year in all 34 provinces and centrally governed cities, with Hà Tĩnh recording the strongest growth at 38 per cent. Quảng Ninh, Ninh Bình and Nghệ An were the runners-up with 32 per cent, 26 per cent and 25 per cent, respectively. 

Dr Nguyễn Quốc Việt, a public policy expert at the VNU University of Economics and Business, said the rise in industrial production across all 34 localities in recent months showed the sector was regaining momentum.

Growth in manufacturing, processing and key industries was significant beyond the production sector itself, Việt told Công Thương (Industry) newspaper.

He added that strong growth in manufacturing, processing and key industries drives private investment, creates jobs and boosts incomes, generating spillover effects for the services sector and domestic consumption.

Trần Việt Hòa, director general of the Industry Agency under the Ministry of Industry and Trade, said the industrial sector was expected to remain an important driver of economic growth through the rest of 2026.

The ministry plans to promote supporting industries, raise localisation rates and encourage companies to adopt new technologies and accelerate digital transformation, while improving productivity and product quality, Hoà said. 

It also aims to diversify export markets, expand domestic demand and strengthen links between domestic companies and foreign-invested enterprises as part of efforts to build stronger industrial and supply chains, he said. 

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