2M industrial production increases 7.2%

Vietnam’s Index of Industrial Production (IIP) jumped 7.2% year-on-year in the first two months of the year, according to the National Statistics Office (NSO) under the Ministry of Finance.

Breaking down sector performance, the manufacturing and processing sector saw a year-on-year rise of 9.3%, the electricity production and distribution surged 2.3%, and the water supply and wastewater treatment sector posted a 8% growth, while the mining dropped 6.4%.

In February, the IIP increased 17.2% year-on-year but declined 2.2% compared to the previous month.

Several industries recorded strong IIP growth in the two-month period, including vehicle production (53.5%), furniture (19.8%), wood processing and production (12.5%), and electronics, optical products and computers (9.5%).

A total of 58 out of 63 centrally-run cities and provinces recorded an increase in IIP, while 5 reported declines.