Industrial production index rises 8.3% in ten months
According to the General Statistics Office, the Industrial Production Index (IIP) increased by 7% in October.
Over the first ten months, this index grew by 8.3% year-on-year. The manufacturing and processing industry, the electricity production and distribution sector and the water supply sector all posted high growth rates, at 9.6%, 10.3% and 9.5%, respectively. In contrast, the mining sector saw a decline of 7.2%.
Several key industries also recorded impressive growth rates compared to the same period last year. Rubber and plastic products rose by 26.3%, furniture production increased by 24.8%, energy grew by 16%, chemicals by 14.6% and automotive production by 14%.
Conversely, oil and gas extraction decreased by 11.8%, the coal sector dropped by 5.9%, and machinery and equipment repair declined by 3.9%.
The IIP over 10 months also showed notable variation across localities, with 59 out of 63 provinces recording increases.
Lai Chau, Phu Tho and Bac Giang provinces reported exceptional growth in the manufacturing and processing industries. Meanwhile, Khanh Hoa, Dien Bien and Cao Bang saw strong growth in electricity production and distribution.
