Index of industrial production in October of 2024

Industrial production in October continued the positive trend, it is estimated that the industrial production index in October 2024 will increase by 4.0% compared to the previous month and increase by 7.0% over the same period last year. Generally, in the first ten months of 2024, the production index of the whole industry is estimated to increase by 8.3% over the same period last year[1].

The index of industrial production (IIP) in October 2024 is estimated to increase by 4.0% compared to the previous month[2] and increase by 7.0% over the same period last year. In which, compared to the same period last year, the processing and manufacturing industry increased by 8.8%; the electricity production and distribution industry increased by 6.0%; water supply, waste and wastewater management and treatment activities increased by 6.9%; the mining industry alone decreased by 10.4%;

Generally, in the first ten months of 2024, IIP is estimated to increase by 8.3% over the same period last year (the same period in 2023 increased by 0.5%). In which, the processing and manufacturing industry increased by 9.6% (the same period in 2023 increased by 0.5%), contributing 8.3 percentage points to the overall increase; the electricity production and distribution industry increased by 10.3%, contributing 0.9 percentage points; water supply, waste and wastewater management and treatment activities increased by 9.5%, contributing 0.2 percentage points; the mining industry alone decreased by 7.2%, reducing 1.1 percentage points in the overall increase.

[1] Localities have a high production index of the processing and manufacturing industry in the first ten months of 2024 compared to the same period last year: Lai Chau increased by 43.9%; Phu Tho increased by 40.7%; Bac Giang increased by 27.7%; Thanh Hoa increased by 19.5%; Quang Nam increased by 19.3%; Tra Vinh increased by 6.6%; Dien Bien increased by 5.7%. Localities with high indices of electricity production and distribution industry: Khanh Hoa increased by 175.2%; Dien Bien increased by 57.1%; Cao Bang increased by 48.5%; Tra Vinh increased by 48.3%; Lai Chau increased by 42.7%; Son La increased by 39.6%; Thanh Hoa increased by 21.9%. Localities with high mining industry indexes: Cao Bang increased by 30.0%; Thanh Hoa increased by 14.0%; Tra Vinh increased by 6.0%.

[2] Localities with a low or decreased production index of the processing and manufacturing industry in the first ten months of 2024 compared to the same period last year are: Bac Lieu increased by 4.9%; Dak Nong increased by 2.8%; Ha Tinh decreased by 5.3%; Gia Lai decreased by 1.8%; Quang Ngai decreased by 1.6%. Localities with low or decreased indicators of the electricity production and distribution industry: Quang Tri increased by 2.3%; Bac Lieu increased by 0.7%; Lang Son decreased by 16.7%; Quang Ngai decreased by 8.6%; Lam Dong decreased by 5.0%; Gia Lai fell 1.5%.

The production index in the first ten months of 2024 of a number of key industries at level 2 increased significantly compared to the same period last year: Production of rubber and plastic products increased by 26.3%; production of beds, cabinets, tables and chairs increased by 24.8%; production of coke and refined petroleum products increased by 16.0%; production of chemicals and chemical products increased by 14.6%; motor vehicle production increased by 14.0%; textiles increased by 12.1%; production of prefabricated metal products (except machinery and equipment) increased by 11.9%; production of leather and related products increased by 11.4%; production of electronic products, computers and optical products increased by 8.8%; food processing production increased by 7.5%. In the opposite direction, the IIP index of some industries increased low or decreased: Production of other means of transport increased by 3.0%; beverage production increased by 0.9%; crude oil and natural gas exploitation decreased by 11.8%; hard coal and lignite mining decreased by 5.9%; repair, maintenance and installation of machinery and equipment decreased by 3.9%; production of other non-metallic mineral products decreased by 0.4%.

[1] Localities have a high production index of the processing and manufacturing industry in the first ten months of 2024 compared to the same period last year: Lai Chau increased by 43.9%; Phu Tho increased by 40.7%; Bac Giang increased by 27.7%; Thanh Hoa increased by 19.5%; Quang Nam increased by 19.3%; Tra Vinh increased by 6.6%; Dien Bien increased by 5.7%. Localities with high indices of electricity production and distribution industry: Khanh Hoa increased by 175.2%; Dien Bien increased by 57.1%; Cao Bang increased by 48.5%; Tra Vinh increased by 48.3%; Lai Chau increased by 42.7%; Son La increased by 39.6%; Thanh Hoa increased by 21.9%. Localities with high mining industry indexes: Cao Bang increased by 30.0%; Thanh Hoa increased by 14.0%; Tra Vinh increased by 6.0%.

[1] The rate of increase/decrease of the industrial production index in the first eight months of 2020-2024 compared to the same period last year was: 2.2%; 5,5%; 9,2%; -0.2% and 8.6%.

[2] The rate of increase/decrease in the IIP index in August 2024 compared to the previous month of some localities with large industrial scale is: Hai Phong increased by 17.2%; Binh Duong increased by 5.1%; Long An increased by 4.9%; Vinh Long increased by 2.3%; Ho Chi Minh City increased by 2.2%; Bac Giang increased by 1.7%; Hai Duong increased by 1.4%; Thai Nguyen increased by 0.8%; Vinh Phuc increased by 0.1%; Bac Ninh decreased by 9.6%.

[3] Localities with a high production index of the processing and manufacturing industry in the first eight months of 2024 compared to the same period last year are: Lai Chau increased by 45.4%; Phu Tho increased by 40.0%; Bac Giang increased by 28.1%; Binh Phuoc increased by 17.2%; Thanh Hoa increased by 16.6%. Localities with high indicators of electricity production and distribution: Khanh Hoa increased by 204.3%; Tra Vinh increased by 59.6%; Cao Bang increased by 44.2%; Lai Chau increased by 37.5%; Dien Bien increased by 36.8%; Son La increased by 32.7%; Thanh Hoa increased by 29.7%.