Vietnam's industrial production expands 7.54% in 1H

Vietnam’s Index of Industrial Production (IIP) expanded 7.54% in the first half of 2024 compared to the same period last year, according to the General Statistics Office (GSO).

The processing and manufacturing industry increased 8.67% year-on-year; electricity production and distribution 13.26%;  water supply and sewerage and waste management and remediation activities 7.13% while mining was dropped by 7.22%.

Some key industrial sectors reported an IIP higher than the same period last year, including rubber and plastic products, up 29%; furniture 19.8%; chemicals and chemical products 18.5%; production of electronic products 17.8%; and metal ore mining 16.7%.

According to the GSO’s report, 56 cities and provinces had an IIP growth in the first six months increase while 7 remainders reported an IIP drop.

Some cities and provinces, that had the processing and manufacturing industry increase sharply in the period, were Lai Chau, up 76.1%; Phu Tho 35.1%; Bac Giang 26.8%; Binh Phuoc 17.0% and Hai Phong 15.6%.