Vietnam’s Index of Industrial Production (IIP) was up 5.1 per cent in February compared to January, due largely to a greater number of working days, according to the General Statistics Office (GSO).

February also saw more people returning to work after the Tet (Lunar New Year) holiday.

The index rose 3.6 per cent year-on-year, in which the mining sector rose 7 per cent and manufacturing 3.3 per cent. Power generation and distribution increased 2.8 per cent and waste treatment 6 per cent.

However, Vietnam’s IIP for the first two months of 2023 fell 6.3 per cent year-on-year as the global economy continued to face numerous difficulties, while inflation remained high in many countries, orders fell, and export revenues declined.

The two-month figure rose in 44 of Vietnam’s 63 cities and provinces and declined in the remaining 19.