The Industrial Production Index (CPI) in 2024 surged 8.4% year-on-year, a record high since 2020, according to the General Statistics Office (GSO).

The figure exceeds the annual target of 7-8%.

The manufacturing and processing industry, the electricity production and distribution sector and the water supply sector all posted high growth rates, at 9.6%, 9.5% and 10.7%, respectively. In contrast, the mining sector saw a decline of 6.5%.

Several key industries also recorded impressive growth rates compared to 2023. Rubber and plastic products rose by 24.9%, furniture production 23.8%, automotive production 21.1%, and textiles 12.1%.

The IIP showed notable variation across localities, with 60 out of the total  63 centrally-run cities and provinces and recording  increases.