Index of industrial production in July of 2023

Industrial production in July was better than last month, estimated industrial production index in the month increased by 3.9% from the previous month and increased by 3.7% over the same period last year. However, the world economic situation in the first months of 2023 faced many difficulties, which affected the results of domestic industrial production. Generally for the first 7 months of 2023, the industrial production index is estimated to decrease by 0.7% over the same period last year [1].

The index of industrial production (IIP) in July 2023 was estimated to increase by 3.9% over the previous month[2] and by 3.7 % over the same period last year. In which, compared to the same period last year, the manufacturing increased by 3.6%; mining and quarying increased by 4%; electricity production and distribution increased by 4.1%; water supply; sewerage, waste management and remediation activities increased by 8.3%.

Generally for the 7 months of 2023, IIP was estimated to decrease by 0.7% over the same period last year ( in the same period in 2022, it increased by 8.6%). In which, the manufacturing decreased by 1% (in the same period in 2022 increased by 9.5%), reducing 0.7 percentage points in the general increase; electricity production and distribution increased by 1.4%, contributing 0.1 percentage points; water supply; sewerage, waste management and remediation activities increased by 6.3%, contributing 0.1 percentage points; mining and quarying decreased by 1.2%, reducing 0.2 percentage points.

Production index for 7 months in 2023 of some key industries Grade II increased sharply compared to the same period last year : Manufacture of coke and refined petroleum products increased by 12.2%; mining of metal ores and manufacture of tobacco products increased by 8.6%; manufacture of rubber and plastics products increased by 7.6%; waste collection, treatment and disposal activities; materials recovery increased by 7.3%; manufacture of fabricated metal products, except machinery and equipment increased by 6.4%. In the opposite direction, the IIP index of some industries decreased: Manufacture of wood and of products of wood and cork decreased by 6.9%; manufacture of paper and paper products decreased by 6.8 %; manufacture of motor vehicles; trailers and semi-trailers decreased by 6.2%; manufacture of wearing apparel down 5.5%; Manufacture of computer, electronic and optical products and manufacture of other non-metallic mineral products decreased by 4.3%.

[1] The rate of increase/decrease of the industrial production index in the 7 months of 2019-2023 compared to the same period last year is: 9.4%; 2.6%; 7.6%; 8.6% and -0.7%.

[2] The rate of increase/decrease of the IIP index in July 2023 compared to the previous month of some large-scale industrial localities are: Bac Ninh increased by 23.8%; Thai Nguyen increased by 9%; Vinh Phuc increased by 5.8%; Vinh Long increased by 3%; Binh Duong increased by 2.3%; Ho Chi Minh City increased by 1.9%; Long An increased by 0.8%; Hai Phong down 6.7%; Quang Ninh down 1.9%; Hai Duong fell 1.3%.