Index of industrial production in March of 2023

Generally, in the first quarter of 2023, IIP was estimated to decrease by 2.2% compared to the same period last year (in the same period in 2022,  increased by 6.8%) because the world economy continues to face many difficulties, unpredictable fluctuations, Although inflation developing countries have cooled down, they are still at a high level, orders have decreased, and export turnover has decreased[1]. In which, the mining and quarrying decreased by 4.4% (in the same period in 2022, it increased by 2.8%), reducing 0.7 percentage points in the overall increase; the manufacturing decreased by 2.4% (in the same period in 2022, it increased by 7.3%), a decrease of 1.6 percentage points; electricity production and distribution decreased by 1% (in the same period in 2022, it increased by 8%), reducing 0.1 percentage points; water supply; sewerage, waste management, and remediation activities increased by 7.8% (in the same period in 2022, it increased by 1.4%), contributing 0.1 percentage points.

The IIP in the first quarter of 2023 of a number of key industries belonging to level II industries decreased compared to the same period last year: Manufacture of furniture decreased by 13.5%; manufacture of other transport equipment decreased by 11.9%; manufacture of paper and paper products decreased by 10.3%; manufacture of other non-metallic mineral products decreased by 8.7%; manufacture of motor vehicles; trailers and semi-trailers decreased by 8.2%; manufacture of wearing apparel decreased by 7.7%; manufacture of electrical equipment decreased by 6.9%. Besides, the IIP index of a number of industries increased: Manufacture of beverages increased by 27.3%; manufacture of coke and refined petroleum products increased by 19.4%; mining of metal ores increased by 14%; manufacture of rubber and plastics products increased by 11.6%; manufacture of pharmaceuticals, medicinal chemical and botanical products increased by 7.2%.

Industrial production index in the first quarter of 2023 over the same period last year increased in 48 localities and decreased in 15 localities across the country. Some localities with IIP index achieved a relatively high increase due to the manufacturing; Electricity, gas, steam and air conditioning supply increased [2]. On the other hand, some localities have low or low increase in IIP index due to the manufacturing; mining and quarying and electricity production and distribution industry increase or decrease [3].

[1] Export turnover in the first quarter of 2023 was estimated at 79.17 billion USD, down 11.9% over the same period last year.

[2] Localities have high production index of the manufacturing in the first quarter of 2023 compared to the same period last year: Cao Bang (26.8%); Tuyen Quang (22.6%); Hai Phong (14.8%); Quang Ninh (13.6%); Hai Duong (12.5%); Nam Dinh (12.3%); Dak Lak, Bac Lieu and Phu Yen together increased by 11.6%; Bac Giang and Kien Giang increased by 10.9%. Localities with high production index of electricity production and distribution: Hau Giang (286.1%); Thai Binh (55.7%); Quang Tri (37%); Ca Mau (33.7%).

[3]The localities where the production index of the manufacturing in the first quarter of 2023 decreased compared to the same period last year: Quang Nam (-34.3%); Bac Ninh (-18.8%); Vinh Long (-16.5%); Soc Trang (-15.6%); Vinh Phuc (-8.1%). The localities where the production index of the electricity production and distribution industry in the first quarter of 2023 decreased compared to the same period last year: Ninh Binh (- 31.8%); Tra Vinh (-29.3%); Ha Giang (-24.9%); Cao Bang (- 21.9%); Hai Phong (-18.5%). Localities have a decrease in the production index of mining and quarying in the first quarter of 2023 compared to the same period last year: Soc Trang (- 87%); Dong Thap (-50.6%); Vinh Phuc (-48.7%).