May 30, 2023 | 06:30 GMT+7

Industrial Production Index up 2.2% in May

Huyền Vy -

49 of 63 localities post increase in IIP in first five months.

Vietnam’s Index of Industrial Production (IIP) increased 2.2 per cent in May compared to April and 0.1 per cent year-on-year, according to the General Statistics Office (GSO).

The manufacturing and processing sector fell 0.5 per cent year-on-year and mining 2.9 per cent, while electricity production and distribution and water supply and sewerage and waste management and remediation activities rose 5 per cent and 6.8 per cent, respectively.

The IIP in the first five months, however, was down 2 per cent year-on-year. The decline was blamed on the global economy continuing to encounter difficulties and reductions in export orders.

Forty-nine of 63 localities recorded an increase in the IIP during the period.

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