Industrial production keeps improving in 7M

Vietnam’s Index of Industrial Production (IIP) rose 8.5% in the first seven months of 2024 compared to the same period last year, the General Statistics Office (GSO) announced on July 29.

The processing and manufacturing sector increased 9.5%, electricity production and distribution 12.4%, water supply and sewerage and waste management and remediation activities 7.2%. However, the mining sector dropped 6.2%.

In July, the IIP soared 0.7% compared to the previous month and 11.2% year-on-year.

According to the GSO’s report, among the country's centrally-run 63 cities and provinces, 60 had an IIP growth during the seven-month period, while 3 others reported an IIP drop.

Some cities and provinces, that had the processing and manufacturing industry increase sharply in the period, were Lai Chau, up 43.1%; Phu Tho 38.4%; Bac Giang 27.5%, Binh Phuoc 17.1% and Thanh Hoa 15.1%.