The processing and manufacturing industry increased by 6.3% in four months

Continuing the recovery momentum from the end of 2023, industrial production in April and the first four months of 2024 continues to show a positive trend. Of which, the processing and manufacturing industry increased by 6.3%.

The report on industrial production and commercial activities in April and the first four months of 2024 published recently by the Ministry of Industry and Trade shows that industrial production continues to show a positive trend when the industrial production index Industry (IIP) in April 2024 is estimated to increase by 0.8% over the previous month and by 6.3% over the same period last year. Of which, the processing and manufacturing industry increased by 7.0% over the same period last year; Electricity production and distribution increased by 11.3%; Water supply, waste and wastewater management and treatment activities increased by 6.6%; The mining industry alone decreased by 6.8%.

Some localities had a high increase in IIP in April 2024 compared to the previous month such as: Son La increased by 36.4%; Vinh Phuc increased by 17.6%; Thai Binh increased by 16.8%; Ha Giang increased by 14.2%; Kien Giang increased by 12.5%; Bac Kan increased by 11.2%; Hoa Binh increased by 9.8%; Yen Bai increased by 9.6%; Soc Trang increased by 9.5%.

Overall, for the first four months of 2024, IIP is estimated to increase by 6.0% over the same period last year (the same period in 2023 decreased by 2.5%). Of which, the processing and manufacturing industry increases by 6.3% (same period in 2023 decreases by 2.9%), contributing 5.5 percentage points to the overall increase; The electricity production and distribution industry increases by 12.3% (same period in 2023 decreases by 0.2%), contributing 1.1 percentage points; The water supply industry, waste and wastewater management and treatment activities increase by 5.3% (same period in 2023 increases by 6.2%), contributing 0.1 percentage points; The mining industry decreased by 4.6% (same period in 2023 decreased by 3.7%), causing a decrease of 0.7 percentage points.

In the first four months of the year, there were fifty four localities whose industrial production index increased compared to the same period last year, only nine localities had IIP decreased compared to the same period last year.

It is notable that the industrial production index in the first four months of 2024 of a number of key level II industries increased compared to the same period last year: production of products from rubber and plastic increased by 27.5%; Electrical equipment production increased by 24.7%; Chemical production and chemical product increased by 24.3%; Production of beds, wardrobes, tables and chairs increased by 17.3%; Metal ore exploitation increased by 16.9%; textile increased by 14.5%; printing and copying records of all types increased by 13.6%; Metal production increased by 13.0%; Production and distribution of electricity, gas, hot water, steam and air conditioning increased by 12.3%; tobacco product production increased by 9.1%; Production of paper and paper products increased by 9.0%; Production of electronic products, computers and optical products increased by 2.7%.

On the contrary, the IIP index of some industries decreased: repair, maintenance and installation of machinery and equipment decreased by 15.4%; Crude oil and natural gas exploitation decreased by 9.6%; Production of other means of transport decreased by 5.1%; Production of products from other non-metallic minerals decreased by 2.4%; Mining of hard coal and lignite decreased by 1.2%.

Some key industrial products in the first four months of 2024 increased compared to the same period last year: bar steel and angle steel increased by 35.7%; textiles made from natural fibers increased by 25.1%; Urea stool increased by 23.9%; rolled steel increased by 20.2%; N.P.K mixed fertilizer increased by 15.7%; powdered milk increased by 11.8%; Electricity production increased by 11.4%.

On the contrary, some products decreased compared to the same period last year: liquefied petroleum gas decreased by 20.4%; Gaseous natural gas decreased by 14.8%; television decreased by 11.1%; Crude iron and steel decreased by 4.5%; mobile phones decreased by 2.8%; automobiles decreased by 6.6%; motorbikes decreased by 4.5%; Beer of all kinds decreased by 5.3%; clean coal decreased by 1.2%; Aquatic feed decreased by 0.8%.

Source: Customs News