Northern Hai Duong province posted an Index of Industrial Production (IIP) rise of 14.1% year-on-year in the first five months of 2024, according to the provincial Statistics Office.

The growth was attributed to the recovery of the global market and positive increase in trade and services activities.

Some key sectors recording high year-on-year growth, including electricity production and distribution with 21.1%; electronic production 10.7%; and automobile manufacturing 14.5%.

Particularly, production of electronic equipment surged 45.2% due to the recovery of the province’s export markets like the US, EU, Japan and South Korea.

The garment and textile industry also posted a significant growth of 14.6% following the recovery of the purchasing power across the globe. Many local enterprises received orders for the third quarter of this year.

Total retail sales of consumer goods and services soared 13% year-on-year to over VND41.7 trillion ($1.63 billion).

The province earned more than $3.85 billion from exports in the five-month period, up 7.2% year-on-year.