INDUSTRIAL OUTPUT UP 9.2% IN JAN-OCT

Employees work at a garment factory - PHOTO: ARCHIVES

HCMC — The index of industrial production (IIP) rose 9.2% in the first ten months of the year, supported by strong gains in manufacturing, according to the National Statistics Office.

The IIP in October was estimated to increase 2.4% from September and 10.8% from a year earlier. October’s growth exceeded the 7.1% rise recorded in the same month of 2024.

Manufacturing and processing grew 11.4% year-on-year in October. Electricity production and distribution increased 11%, while water supply and waste treatment rose 12.2%. Mining edged up 3.1%.

Several major industrial provinces reported higher output. Quang Ninh posted a 13.3% rise, Vinh Long 11.6%, Can Tho City 4.5%, Bac Ninh 4.4%, Haiphong City 3.8% and Quang Ngai 2.7%. Dong Nai increased 2.5% and HCMC 1.5%. However, Danang City fell 2.1%.

For the January–October period, industrial output grew faster than the 8.3% expansion recorded in the same period of 2024. Manufacturing rose 10.5% and contributed 8.5 percentage points to overall industrial growth. Electricity production and distribution increased 6.8%, while water supply and waste treatment rose 9%. Mining edged down 0.1%.

Several key subsectors reported strong gains. Motor vehicle production surged 23.5%, rubber and plastics manufacturing rose 17.3%, and non-metallic mineral products increased 16.8%. Meanwhile, machinery manufacturing grew 3.9%, coal extraction 3.4%, and crude oil and natural gas output fell 4.1%.

Key industrial products also increased. Automobile output climbed 42.2%, TV production 19.6%, and rolled steel 17.7%. Both cement and aquafeed rose 14.6%. Casual apparel rose 14.3%. Natural gas output fell 7.5%, synthetic fiber fabric declined 2.3% and crude oil production dropped 0.9%.

Industrial employment edged up 0.8% as of October 1 from the previous month and 3.6% from a year earlier. Employment at foreign-invested firms increased 4.1%.

Source: The Saigon Times