Industrial Production Index rises 6.8% in 5M

Vietnam’s Index of Industrial Production (IIP) surged 3.9% in May compared to April and 8.9% year-on-year, according to the General Statistics Office (GSO).

The manufacturing and processing sector rose 10.6% year-on-year and electricity production and distribution and water supply and sewerage and waste management and remediation activities surged 7.4% while mining dropped 9.4%.

The IIP in the first five months soared 6.8% compared to the same period last year.

Fifty-five of the total 63 centrally - run cities and province recorded an increase in the IIP during the period while 8 recorded declines.

Some localities have seen a fairly high increase in the IIP due to a sharp increase in the processing and manufacturing industry including Phu Tho (31.2%), Bac Giang (24.9%), Binh Phuoc (14.8%), Ha Nam (14.5%) and Hai Phong (14.4%).

The GSO also reported that the number of workers working in industrial enterprises as of May 1, 2024, increased by 1% compared to the same time last month and by 3.2 per cent compared to the same time last year.