December 31, 2023 | 14:00 GMT+7

2023 IIP up 1.5%

Huyền Vy -

Fifty of Vietnam’s 63 localities posted growth in their Index of Industrial Production.

Vietnam’s Index of Industrial Production (IIP) rose 1.5 per cent year-on-year in 2023, according to the General Statistics Office (GSO).

Sectors posting strong IIP growth were plastics and plastic products, of 13.2 per cent, chemicals and chemical products 9.5 per cent, metals mining 8.3 per cent, textiles 7 per cent, and food production and processing 6.1 per cent.

In terms of localities, the GSO said 50 of Vietnam’s 63 cities and provinces saw year-on-year growth in their IIP, while 13 recorded declines.

Localities posting high growth were all in the north, including Quang Ninh, by 30.3 per cent, Bac Giang 20.8 per cent, Phu Tho 18.5 per cent, Nam Dinh 14.8 per cent, and Hai Phong 13.4 per cent.

The GSO also reported that the added value of the industrial sector rose 3.02 per cent in 2023.

Of this, the manufacturing and processing sector’s added value increased 3.62 per cent year-on-year, electricity generation and distribution 3.79 per cent, and water supply and sewerage and waste management 5.18 per cent.

Meanwhile, the mining sector’s value was down 3.17 per cent.

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