The industrial production index (IPI) for May 2025 is estimated to have increased by 4.3% compared to the previous month and 9.4% from the same period last year. Notably, the water supply industry, waste management, and wastewater treatment sector witnessed an 11.3% year-over-year increase, while the manufacturing industry rose by 11.0%. Electricity production and distribution grew by 3.3%, and the mining industry saw a 1.2% uptick.
For the first five months of 2025, the IPI is estimated to have climbed by 8.8% year-over-year (compared to a 7.1% increase in the same period in 2024). The manufacturing industry led the way with a 10.8% surge (up from 7.6% in 2024), contributing 8.8 percentage points to the overall growth. Electricity production and distribution rose by 4.2%, adding 0.4 percentage points, while water supply, waste management, and wastewater treatment activities increased by 10.0%, contributing 0.2 percentage points. In contrast, the mining industry contracted by 3.4%, resulting in a 0.6 percentage point reduction.
A breakdown of the IPI for key secondary industries in the first five months of 2025 reveals the following year-over-year changes: Motor vehicle production increased by 34.3%; leather and related product manufacturing rose by 16.8%; rubber and plastic product manufacturing climbed by 16.1%; garment production went up by 15.7%; and transportation equipment manufacturing, excluding motor vehicles, expanded by 14.1%. Additionally, furniture manufacturing (including beds, cabinets, tables, and chairs) grew by 12.8%, and wood processing and wood product manufacturing (including bamboo and rattan) increased by 12.6%. The production of coke and refined petroleum products rose by 12.4%, while the manufacturing of other non-metallic mineral products increased by 11.3%. Cast metal product manufacturing (excluding machinery and equipment) rose by 11.2%, and the production of electronic products, computers, and optical products climbed by 9.6%. Food processing also saw a notable increase of 8.8%.
IPI Growth/Decline for Key Industries from 2021 to 2025 compared to the same period last year
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Analyzing the IPI for the first five months of 2025 across different regions reveals that 61 localities experienced growth compared to the same period last year, while the provinces of Ba Ria-Vung Tau and Cao Bang saw decreases of 3.4% and 3.3%, respectively. Several localities achieved notable increases, largely driven by robust growth in the manufacturing industry and electricity production and distribution sectors. Conversely, some localities witnessed lower growth or declines due to underperformance in these same sectors.
Key industrial products for the first five months of 2025 showed growth compared to the same period last year: Automobile production increased by 70.3%; television sets rose by 25.6%; liquefied petroleum gas (LPG) climbed by 21.7%; compound fertilizer NPK increased by 18.8%; and ready-to-wear garments rose by 14.6%. Steel products saw a 13.8% increase, while natural fiber fabrics and cement production rose by 13.4% and 12.9%, respectively. Steel bars and angles increased by 11.7%, and leather footwear by 11.5%. Refined sugar also saw a notable increase of 10.9%. Conversely, natural gas in gaseous form decreased by 12.4%, crude oil extraction fell by 5.1%, synthetic fiber fabrics dropped by 4.3%, and beer production dipped by 0.3%.
The number of employees in industrial enterprises as of May 1, 2025, rose by 1.1% compared to the previous month and by 4.5% compared to the same period last year. State-owned enterprises saw a 0.3% increase compared to the previous month and a 1.1% increase compared to the same period last year. Foreign-invested enterprises witnessed a 1.3% and 5.3% increase, respectively, while non-state enterprises saw a 0.8% and 3.0% rise. By industry, the number of employees in mining enterprises rose by 0.4% compared to the previous month but fell by 0.1% compared to the same period last year. The number of employees in the manufacturing industry increased by 1.2% and 4.8%, respectively. The electricity, gas, hot water, steam, and air conditioning supply industry remained unchanged month-over-month but rose by 0.8% year-over-year. Water supply, waste management, and wastewater treatment activities saw a 0.1% and 1.5% increase, respectively.
– 10:00 06/06/2025
