Industrial production up 8.6% in 8M

Vietnam’s Index of Industrial Production (IIP) grew 8.6% in the first eight months of 2024 compared to the same period last year, according to the General Statistics Office (GSO).

The processing and manufacturing industry increased 9.7% year-on-year; electricity production and distribution 11.6%;  water supply and sewerage and waste management and remediation activities 7.8%,  while mining was dropped by 6%.

Some key industrial sectors reported an IIP higher than the same period last year, including rubber and plastic products, up 29.5%; chemicals and chemical products 17.8%; textiles 13.4%; electronic products, computers and optical products 9.8%; and goods production and processing 7.3%.

According to the GSO’s report, among 63 cities and provinces nationwide,  61 had an IIP growth in the eight-month period, while 2 remainders reported an IIP reduction.