In 2024, Vietnam's industrial sector made a strong mark with impressive growth, when the industrial production index (IIP) was estimated to increase by 8.4% over the previous year, the highest increase since 2020. This is a positive signal showing strong recovery and development while affirming the important role of the industry in economic growth.
The above information was announced at the Press Conference to announce socio-economic statistics for the fourth quarter and 2024, organized by the General Statistics Office on January 6.
According to data from the General Statistics Office, businesses have boosted production in the fourth quarter to meet year-end consumer demand. This has helped industrial production in the quarter continue its positive growth trend with the production index estimated to increase by 7.9% over the same period last year.
For the whole year, the index of industrial production (IIP) is estimated to increase by 8.4% compared to 2023. This is the highest increase since 2020, marking a strong recovery after the difficulties of previous years. Specifically, the IIP index in 2020-2024 will increase by 3.3%; 4.7%; 7.4%; 1.3% and 8.4%, respectively.
Contributing to the overall growth of the whole industry, the processing and manufacturing industries increased by 9.6%, contributing 8.4 percentage points. The electricity production and distribution industry increased by 9.5%, contributing 0.8 percentage points. The water supply, waste and wastewater management and treatment industry increased by 10.7%, contributing 0.2 percentage points. In contrast, the mining industry decreased by 6.5%, reducing the overall growth by 1.0 percentage points.
Notably, many secondary industries have high IIP index increases in 2024, such as production of rubber and plastic products (up 24.9%), production of beds, cabinets, tables, chairs (up 23.8%), production of motor vehicles (up 21.1%)...
The 2024 industrial production index recorded differences between localities, specifically 60 localities increased and 3 localities decreased compared to the previous year. In particular, some localities had a fairly high IIP index increase thanks to the growth of the processing and manufacturing industry (such as Phu Tho increased by 44.7%, Lai Chau increased by 35.8%, Bac Giang increased by 28.2%, Thanh Hoa increased by 19.6%) and the electricity production and distribution industry increased strongly (such as Khanh Hoa increased by 135.7%, Tra Vinh increased by 50.2%, Dien Bien increased by 49.5%).
In 2024, the consumption index of the entire processing and manufacturing industry will increase by 11.3% compared to 2023. Notably, the consumption index in December decreased by 5.1% compared to the previous month and increased by 0.8% compared to the same period last year. In addition, the inventory index of the entire processing and manufacturing industry as of December 31, 2024 increased by 10.6% compared to the same period last year, and the average inventory ratio in 2024 is 77.1%.
According to the report, the number of workers in industrial enterprises as of December 1 increased by 3.2% compared to the same period last year. Of which, the number of workers in foreign-invested enterprises had the highest increase of 3.7%./.
According to VNA
Source: https://baothanhhoa.vn/san-xuat-cong-nghiep-tang-truong-ngoan-muc-muc-cao-nhat-trong-4-nam-236013.htm
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