The Index of Industrial Production (IIP) increased 2.9 per cent in August against July and by 15.6 per cent year-on-year, due to industrial production recovering as enterprises work to expand production after two years of grappling with Covid-19-induced difficulties, according to the General Statistics Office.

It also increased by 9.4 per cent year-on-year in the first eight months, rising in 61 localities and falling in two.

The IIP increased sharply in certain localities. For example, in Bac Giang it rose 60.7 per cent and in Lai Chau by 39.6 per cent year-on-year. Increases were due to growth in processing and manufacturing industries and the production and distribution of electricity. Notably, the IIP of Ha Tinh and Tra Vinh fell 15 per cent and 26.6 per cent, respectively, as production and business activities continue to face difficulties from the impact of Covid-19.

In the first eight months, the IIP of certain major industrial products such as beer, processed seafood, phone accessories, and automobiles rose sharply, by 31.2 per cent, 20.7 per cent, 19.6 per cent, and 13.9 per cent, respectively. Conversely, some products posted declines, including crude steel and iron, by 12.3 per cent, and TVs, by 10.7 per cent.