October 31, 2023 | 06:45 GMT+7

Industrial production grows in October

Huyền Vy -

Index of Industrial Production for the month estimated to have improved 4.1 per cent year-on-year.

With an increase of 5.5 per cent compared to September, industrial production in October posted positive growth.

According to the General Statistics Office (GSO), the Index of Industrial Production (IIP) in October was estimated to have risen 4.1 per cent year-on-year.

Compared to October 2022, the manufacturing and processing sector rose 4.9 per cent, electricity generation and distribution 5.6 per cent, and water supply, sewerage, and waste management and remediation activities 5.2 per cent, while mining and quarrying fell 5.7 per cent.

The IIP is estimated to have increased 0.5 per cent year-on-year in the first ten months, of which some key sectors reported considerable growth, including rubber and plastics products, by 9.5 per cent, tobacco products 9.1 per cent, fabricated metal products (except machinery and equipment) 8.7 per cent, mining of metal ores 6.3 per cent, food manufacturing and processing 6.1 per cent, chemicals and chemical products 5.9 per cent, and water collection, treatment, and supply 5.3 per cent.

According to the latest GSO report, the IIP increased in 49 localities and fell in 14 during the January-October period compared to the same period last year.

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