Investment News

Industrial production index up 0.5% in 10 months



Workers at a wood factory in southern Binh Duong Province. Photo by VnExpress/Le Tuyet

Vietnam’s index of industrial production (IIP) went up 0.5% in the first 10 months of this year with the October IIP alone rising 4.1% year-on-year, according to the General Statistics Office.

Phi Thi Huong Nga, head of the Industry and Construction Statistics Department said that although the production and business activities of enterprises in the processing, manufacturing, and mining industries are still facing difficulties, they have recovered more positively than the third quarter of 2023.

Some key industries registering increases in IIP in the first ten months of this year included rubber and plastic products (up 9.5%); tobacco (9.1%); prefabricated metal products except machinery and equipment (8.7%); metal ore exploitation (6.3%); food processing and production (6.1%); chemicals and chemical products (5.9%); water exploitation, treatment and supply (5.3%).

Meanwhile, the IIP of some manufacturing industries decreased such as other means of transport (7.3%); motor vehicles (4.1%); crude oil and natural gas exploitation (4%); other non-metallic mineral (3.7%); paper and paper products (2.7%).