(MPI) – According to Report No. 04/BC-TCTK dated January 6, 2025 of the General Statistics Office, Ministry of Planning and Investment , enterprises are stepping up production to prepare goods to meet year-end consumption demand, so industrial production in the fourth quarter of 2024 continues to grow positively, with an estimated industrial production index increasing by 7.9% over the same period last year. In general, in 2024, the industrial production index is estimated to increase by 8.4% over the previous year, the highest increase since 2020.
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| Illustration photo. Source: MPI |
In 2024, the industrial production index (IIP) is estimated to increase by 8.4% over the previous year (in 2023, it increased by 1.3%). Of which, the processing and manufacturing industry increased by 9.6% (in 2023, it increased by 1.5%), contributing 8.4 percentage points to the overall growth rate; 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; the mining industry decreased by 6.5%, reducing 1.0 percentage point to the overall growth rate.
The 2024 IIP of some key secondary industries increased sharply, such as the production of rubber and plastic products increased by 24.9%; the production of beds, cabinets, tables and chairs increased by 23.8%; the production of motor vehicles increased by 21.1%; the production of leather and related products increased by 13.7%; the production of coke and refined petroleum products increased by 12.6%; textiles increased by 12.1%; the production of chemicals and chemical products and the production of electrical equipment increased by 11.9%; the production of electronic products, computers and optical products increased by 8.3%; and food processing increased by 7.4%. On the contrary, the IIP of some industries increased slightly or decreased, such as the production of beverages increased by 1.4%; the production of products from other non-metallic minerals increased by 0.9%; the exploitation of crude oil and natural gas decreased by 10.9%; Mining of hard coal and lignite decreased by 5.5%; repair, maintenance and installation of machinery and equipment decreased by 5.1%.
The industrial production index in 2024 compared to the previous year increased in 60 localities and decreased in 03 localities nationwide. Some localities had a fairly high increase in the IIP index due to the processing and manufacturing industry; the electricity production and distribution industry increased highly, 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%; Tra Vinh increased by 7.5%; Dien Bien increased by 5.7%. On the contrary, some localities had a low or decreasing IIP index due to the processing and manufacturing industry and the electricity production and distribution industry increased low or decreased, such as Quang Tri increased by 4.7%; Dak Nong increased by 3.2%; Gia Lai increased by 2.1%; Ha Tinh decreased by 5.4%; Quang Ngai decreased by 1.9%.
Some key industrial products in 2024 increased sharply compared to the previous year, such as automobiles increased by 27.0%; steel bars and angle steel increased by 18.7%; televisions increased by 18.6%; natural fiber woven fabrics and diameter increased by 16.7%; gasoline increased by 14.0%; rolled steel increased by 13.8%; NPK mixed fertilizer increased by 11.0%; powdered milk increased by 10.9%. On the contrary, some products decreased compared to the previous year, such as natural gas decreased by 15.4%; liquefied petroleum gas decreased by 12.5%; crude oil decreased by 5.8%; clean coal decreased by 5.6%; mobile phones decreased by 4.2%; beer decreased by 1.0%.
The consumption index of the entire processing and manufacturing industry in December 2024 decreased by 5.1% compared to the previous month and increased by 0.8% compared to the same period last year. In general, in 2024, the consumption index of the entire processing and manufacturing industry increased by 11.3% compared to 2023 (the previous year increased by 1.6%).
The inventory index of the entire processing and manufacturing industry as of December 31, 2024 is estimated to increase by 10.0% compared to the same period last month and increase by 10.6% compared to the same period last year (the same period last year increased by 19.8%). The average inventory ratio of the entire processing and manufacturing industry in 2024 is 77.1% (in 2023 it is 88.0%).
The number of employees working in industrial enterprises as of December 1, 2024 increased by 0.8% compared to the same period last month and increased by 3.2% compared to the same period last year. Of which, employees in the State-owned enterprise sector increased by 0.1% and 0.3%; non-State enterprises increased by 0.7% and 1.9%; foreign-invested enterprises increased by 0.9% and 3.7%. By industry, the number of employees working in mining enterprises increased by 0.1% compared to the same period last month and decreased by 0.4% compared to the same period last year; the processing and manufacturing industry increased by 0.8% and 3.4%; the electricity, gas, hot water, steam and air conditioning production and distribution industry increased by 0.1% and 0.8%; Water supply, waste and wastewater management and treatment increased by 0.3% and 1.1% respectively./.
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