February production index up 8.5%

The Index of Industrial Production (IIP) in February was positive and the processing and manufacturing industry continued to be a driving force of overall growth in the industry, according to the General Statistics Office (GSO).

The February IIP increased 8.5 per cent year-on-year, with processing and manufacturing rising 6.1 per cent and contributing 5.2 percentage points to overall growth. Electricity production and distribution rose 6.5 per cent and water supply and waste treatment and management 2.5 per cent.

In the opening two months of 2022, the IIP in a number of key industries increased sharply year-on-year, including electrical equipment, by 27.9 per cent, uncategorized machinery and equipment 21.2 per cent, clothing 20.1 per cent, pharmaceutical chemicals and herbal ingredients 15 per cent, and leather and related products 10.6 per cent. It increased in 56 localities around Vietnam and decreased in seven.

The number of workers at industrial enterprises increased 1.2 per cent in February compared to January and 1.3 per cent year-on-year. The number in mining rose 0.2 per cent against January but fell 1.6 per cent year-on-year.