Industrial production index in January 2024 rises by 18.3% compared to the same period last year

According to the statistics from the General Statistics Office, the industrial production index of January 2024 is estimated to have decreased by 4.4% compared to the previous month and increased by 18.3% compared to the same period last year, with the manufacturing industry increasing by 19.3%.

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Accordingly, the overall industrial production index (IIP) in January 2024 is estimated to decrease by 4.4% compared to the previous month and increase by 18.3% compared to the same period last year. Specifically, the processing and manufacturing sector increased by 19.3% compared to the same period last year, contributing 15.1 percentage points to the overall growth; electricity production and distribution increased by 21.6%, contributing 1.9 percentage points; water supply, waste management and treatment, wastewater increased by 5.7%, contributing 0.1 percentage point; mining sector increased by 7.3%, contributing 1.2 percentage points.

The growth/decline rates of the production index in January 2024 for some key second-level industries compared to the same period last year are as follows: Furniture production increased by 66.7%; textile manufacturing increased by 46.2%; electrical equipment manufacturing increased by 43.3%; metal production increased by 39.4%; paper and paper product manufacturing, chemical manufacturing both increased by 38.7%; leather and related product manufacturing increased by 34.7%; non-metallic mineral product manufacturing and clothing manufacturing both increased by 20.9%; food processing increased by 17.2%; other transportation equipment manufacturing increased by 13.1%; precast metal product manufacturing (except machinery and equipment) increased by 7.8%; electronic, computer, and optical product manufacturing increased by 5.6%; beverage manufacturing increased by 3.7%; crude oil and natural gas extraction decreased by 1.1%.

The industrial production index in January 2024 increased in 60 localities and decreased in 3 localities nationwide. Some localities had a high IIP due to the manufacturing and processing industry; the electricity production and distribution industry. Conversely, some localities had a low or decreased IIP due to the manufacturing and processing industry; the mining industry and the manufacturing and distribution of electricity.

Some major industrial products in January 2024 increased significantly compared to the same period last year: diameter increased by 66.2%; hot-rolled steel increased by 59.6%; woven fabric from natural fibers increased by 57.1%; powdered milk increased by 47.4%; chemical paint increased by 44.7%; mixed fertilizer NPK increased by 40.7%; steel bars, steel angles increased by 37.5%; cigarettes increased by 34.7%. Conversely, some products decreased compared to the same period last year: phone components decreased by 15.3%; televisions decreased by 11.3%; mobile phones decreased by 3.5%; crude oil extraction decreased by 2.2%.

The number of workers working in industrial enterprises as of January 1, 2024 increased by 0.5% compared to the previous month and increased by 0.1% compared to the same period last year. Specifically: State-owned enterprises increased by 0.1% and decreased by 0.9%; non-state-owned enterprises increased by 0.1% and decreased by 1.3%; foreign-invested enterprises increased by 0.7% and increased by 0.8%. By industry, the number of workers working in the mining industry remained unchanged compared to the previous month and increased by 0.7% compared to the same period last year; the processing and manufacturing industry increased by 0.5% and 0.1%; the production and distribution of electricity, gas, hot water, steam, and air conditioning increased by 0.2% and 0.7%; water supply, waste management and treatment, wastewater increased by 0.1% and 1%.

Nhat Quang

SOURCEvietstock
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