In the first 9 months of 2024, some key industrial products increased sharply.

According to the Report on Industrial and Commercial Production Situation in September and the first 9 months of 2024, in the first 9 months of 2024, the total added value of the entire industry is estimated to increase by 8.34% over the same period last year, contributing 2.71 percentage points to the growth rate of the total added value of the entire economy. In particular, the processing and manufacturing industry is the growth driver of the entire economy with a growth rate of 9.76% (in the first quarter, it increased by 7.21%; in the second quarter, it increased by 10.39%; in the third quarter, it increased by 11.41%), contributing 2.44 percentage points to the growth rate of the total added value of the entire economy (GDP in the first 9 months is estimated to increase by 6.82% over the same period last year); the electricity production and distribution industry increased by 11.11%, contributing 0.43 percentage points; The water supply and waste and wastewater treatment industry increased by 9.83%, contributing 0.06 percentage points; the mining industry alone decreased by 7.01%, reducing the overall growth rate by 0.22 percentage points.

In September 2024, due to the impact of storm No. 3 (Yagi), the production growth streak after 5 consecutive months of increase was broken, causing the purchasing managers' index (PMI) in September to fall below the 50-point threshold (reaching 47.3 points compared to 52.4 points in August). Therefore, the industrial production index (IIP) in September 2024 decreased slightly compared to the previous month (down 0.2%), however, thanks to the positive recovery momentum of industrial production in recent months, the industrial production index in September 2024 still increased by 10.8% over the same period last year.

In the first 9 months of 2024, the industrial production index (IIP) is estimated to increase by 8.6% over the same period last year (the same period in 2023 increased by only 0.3%). Of which, the processing and manufacturing industry increased by 9.9% (the same period in 2023 increased by only 0.2%); the electricity production and distribution industry increased by 11.1% (the same period in 2023 increased by 2.6%); the water supply, waste and wastewater management and treatment industry increased by 9.9% (the same period in 2023 increased by 4.9%); the mining industry alone decreased by 6.5% (the same period in 2023 decreased by 3%).

The production index in the first 9 months of 2024 of some key industries in the secondary industry increased sharply compared to the same period last year, such as: Production of rubber and plastic products increased by 28.8%; production of beds, cabinets, tables and chairs increased by 24.7%; production of coke and refined petroleum products increased by 18.8%; production of chemicals and chemical products increased by 16.9%; production of motor vehicles increased by 13.0%; textiles increased by 12.8%; metal production increased by 12.3%; production of prefabricated metal products (except machinery and equipment) increased by 12.0%; production of leather and related products increased by 11.6%; production of electronic products, computers and optical products increased by 9.1%; food processing increased by 7.8%. On the contrary, the IIP index of some industries increased slightly or decreased: Beverage production increased by 0.4%; production of other non-metallic mineral products decreased by 0.3%; repair, maintenance and installation of machinery and equipment decreased by 3.7%; mining of hard coal and lignite decreased by 4.2%; exploitation of crude oil and natural gas decreased by 11.5%.

Industrial production increased across the board as the industrial production index in the first 9 months increased in 60/63 localities. In particular, some localities had a fairly high double-digit increase in IIP due to the high growth in the processing and manufacturing industry or the electricity production and distribution industry (IIP of Lai Chau increased by 43.3%; Tra Vinh increased by 41.9%; Phu Tho increased by 38.7%; Khanh Hoa increased by 36.4%; Bac Giang increased by 27.7%; Son La increased by 27.3%; Thanh Hoa increased by 20.4%...).

Some key industrial products in the first 9 months of 2024 increased sharply compared to the same period last year, such as: Steel bars and angle steel increased by 26.7%; gasoline and oil increased by 20.3%; rolled steel increased by 16.8%; natural fiber woven fabrics increased by 15.9%; diameter increased by 13.5%; NPK mixed fertilizer increased by 13.3%; powdered milk increased by 12.1%; automobiles increased by 11.9%. On the contrary, some products decreased compared to the same period last year, such as: Gaseous natural gas decreased by 16.5%; LPG decreased by 15.0%; mobile phones decreased by 7.6%; crude oil decreased by 5.9%; coal (clean coal) decreased by 4.2%; beer decreased by 2.8%; Alumina decreased by 2.3%.

The consumption index of the entire processing and manufacturing industry in the first 9 months of 2024 increased by 12.5% ​​compared to the same period in 2023 (the same period in 2023 increased by only 0.6%). Meanwhile, the inventory index of the entire processing and manufacturing industry is estimated to increase by 5.2% as of September 30, 2024 compared to the same period last month and increase by only 8.5% as of the same period last year (the same period last year increased by 19.4%). At the same time, the average inventory ratio of the entire processing and manufacturing industry in the first 9 months of 2024 was 76.8% (compared to the average of 85.3% in the first 9 months of 2023)... are signs of a positive recovery in production and product consumption.

The number of workers working in industrial enterprises as of September 1, 2024, although only increased by 1.1% compared to the same period last month, increased by 5.2% compared to the same period last year, also showing an increase in export orders, requiring enterprises to increase production, along with an increase in the demand for labor to serve production activities.

Source: https://moit.gov.vn/tin-tuc/tai-co-cau-nganh-cong-thuong/9-thang-nam-2024-mot-so-san-pham-cong-nghiep-chu-luc-tang-cao.html