(MPI) – Industrial production in August continued its positive growth trend, with the industrial production index in August 2024 estimated to increase by 2.0% over the previous month and by 9.5% over the same period last year. In the first eight months of 2024, the industrial production index is estimated to increase by 8.6% over the same period last year.
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| Illustration photo. Source: MPI |
The industrial production index (IIP) in August 2024 is estimated to increase by 2.0% over the previous month and by 9.5% over the same period last year. Of which, compared to the same period last year, the processing and manufacturing industry increased by 10.6%; the electricity production and distribution industry increased by 8.9%; the water supply, waste and wastewater management and treatment industry increased by 12.6%; the mining industry alone decreased by 1.5%.
In the first 8 months of 2024, IIP is estimated to increase by 8.6% over the same period last year (decreased by 0.2% in the same period in 2023). Of which, the processing and manufacturing industry increased by 9.7% (decreased by 0.4% in the same period in 2023), contributing 8.4 percentage points to the overall increase; the electricity production and distribution industry increased by 11.6%, contributing 1.0 percentage point; the water supply, waste and wastewater management and treatment industry increased by 7.8%, contributing 0.1 percentage point; the mining industry decreased by 6.0%, decreasing by 0.9 percentage points.
The production index in the first 8 months of 2024 of some key secondary industries increased sharply compared to the same period last year, such as the production of rubber and plastic products increased by 29.5%; the production of beds, cabinets, tables and chairs increased by 21.6%; metal ore mining increased by 19%; the production of chemicals and chemical products increased by 17.8%; textiles increased by 13.4%; metal production increased by 13.2%; the production of prefabricated metal products (except machinery and equipment) increased by 12.6%; the production of electronic products, computers and optical products increased by 9.8%; food production and processing increased by 7.3%.
On the contrary, the IIP index of some industries increased slightly or decreased, such as the production of other means of transport increased by 4%; beverage production increased by 0.5%; crude oil and natural gas exploitation decreased by 11.2%; repair, maintenance and installation of machinery and equipment decreased by 3.4%; hard coal and lignite mining decreased by 3.3%; production of other non-metallic mineral products decreased by 0.6%.
The industrial production index in the first 8 months of 2024 compared to the same period last year increased in 61 localities and decreased in 02 localities nationwide. Some localities had a fairly high increase in the IIP index due to the high increase in the processing and manufacturing industry; the electricity production and distribution industry. Localities with a high increase in the production index of the processing and manufacturing industry in the first 8 months of 2024 compared to the same period last year were Lai Chau, up 45.4%; Phu Tho, up 40.0%; Bac Giang , up 28.1%; Binh Phuoc, up 17.2%; Thanh Hoa, up 16.6%. Localities with a high increase in the index of the electricity production and distribution industry: Khanh Hoa, up 204.3%; Tra Vinh, up 59.6%; Cao Bang, up 44.2%; Lai Chau, up 37.5%; Dien Bien, up 36.8%; Son La, up 32.7%; Thanh Hoa increased by 29.7%.
On the contrary, some localities have a decrease in IIP index due to the decrease in processing and manufacturing industry; mining industry and electricity production and distribution industry. Localities with a decrease in the production index of the processing and manufacturing industry in the first 8 months of 2024 compared to the same period last year are: Ha Tinh down 4.4%; Quang Ngai down 3.2%; Gia Lai down 1.6%. Localities with a decrease in the production index of the electricity production and distribution industry in the first 8 months of 2024 compared to the same period last year: Lang Son down 16.4%; Quang Ngai down 13.1%; Thua Thien - Hue down 7.8%; Lam Dong down 5.7%; Gia Lai down 1.8%. Localities with a decrease in the production index of the mining industry: Ba Ria - Vung Tau down 12.9%; Lam Dong down 11.1%; Quang Tri down 1.8%.
Some key industrial products in the first 8 months of 2024 increased sharply compared to the same period last year, such as steel bars and angle steel increased by 31%; rolled steel increased by 17.1%; natural fiber woven fabrics increased by 15.6%; diameter increased by 14.2%; gasoline and oil of all kinds increased by 12.6%; NPK mixed fertilizer increased by 12.3%; powdered milk increased by 11.2%; electricity production increased by 10.9%; processed seafood increased by 10.7%.
On the contrary, some products decreased compared to the same period last year such as liquefied petroleum gas (LPG) decreased by 15.3%; natural gas in gas form decreased by 14.9%; crude oil decreased by 7.1%; mobile phones decreased by 5.2%; beer decreased by 3.7%; clean coal decreased by 3.4%; aluminum decreased by 2.7%.
The number of employees working in industrial enterprises as of August 1, 2024 increased by 0.9% compared to the same period last month and increased by 4.5% compared to the same period last year. Of which, employees in the state-owned enterprise sector increased by 0.1% and 1.5%; non-state enterprises increased by 0.6% and 1.8%; foreign-invested enterprises increased by 1.1% and 5.7%.
By industry, the number of employees working in mining enterprises remained unchanged compared to the same period last month and increased by 0.1% compared to the same period last year; the processing and manufacturing industry increased by 1.0% and increased by 4.8%; the electricity, gas, hot water, steam and air conditioning production and distribution industry remained unchanged compared to the same period last month and increased by 1.6% compared to the same period last year; the water supply, waste and wastewater management and treatment industry increased by 0.1% and increased by 0.8%./.
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