Topic: production

According to the General Statistics Office, the Index of Industrial Production (IIP) in October increased 3 per cent over the previous month and 6.3 per cent over October last year. Processing and manufacturing rose 5.7 per cent, mining 6.3 per cent, and electricity production and distribution 10.5 per cent. The IIP for the first ten months is estimated to have increased 9 per cent year-on-year.

The Ministry of Agriculture and Rural Development has reported that Vietnam’s organic agricultural production has recorded many positive achievements after three years of implementing the “Organic Agriculture Project”. Exports of organic agriculture products reached $335 million each year, going out to 180 countries and territories around the world, from more than 17,000 producers, 555 processors, and 60 exporters.

According to the General Statistics Office, the Index of Industrial Production (IIP) increased 12.12 per cent year-on-year in the third quarter of 2022 and 9.63 per cent in the first nine months. Processing and manufacturing continued to be a driving force of growth, increasing 10.69 per cent and contributing 2.74 per cent to higher added value in the economy.

At the recent “Propaganda and promotion to support the development of trade in mountainous areas and islands in 2022” conference, Mr. Tran Duy Dong, Director of the Domestic Market Department at the Ministry of Industry and Trade, said the production potential of mountainous and remote areas and islands is significant because of their area and geographical location, with many products bestowed upon them by nature.

Analysts at JP Morgan have said that Apple is currently preparing to make Vietnam and India important manufacturing hubs globally for the Group. In the context of global supply chain re-establishment taking place on a scale not seen in decades, JP Morgan estimates that Vietnam will contribute 20 per cent of the total production of iPad and Apple Watch, 5 per cent of MacBook, and 65 per cent of AirPods by 2025.

The Vietnam Steel Association (VSA) has reported that finished steel production in August reached 1.982 million tons, down 12 per cent compared to July and 21.6 per cent compared to August 2021. Consumption of steel of all kinds reached 2.15 million tons in the month, up 8.13 per cent against July and up 4.1 per cent against August last year. Finished steel production reached 20.808 million tons in the first eight months of the year, down 5.8 per cent over the same period of 2021, while finished steel consumption was 19.261 million tons, down 1.6 per cent.

PYN Elite report notes that Vietnam’s economy is showing resilience thanks to strong domestic consumption and that production will continue to be promoted.

The Index of Industrial Production (IIP) increased year-on-year in the first eight months of 2022, with the processing and manufacturing sector being the largest contributor.

According to the Vietnam Steel Association (VSA), finished steel production reached 2.252 million tons in July, down 6.19 per cent compared to June and 12.5 per cent year-on-year. Consumption of steel of all types stood at 1.99 million tons, down 11.48 per cent against June and 12.1 per cent year-on-year.

With exports of $2.3 billion in the first half of 2022, Vietnam’s shrimp industry is in a position to achieve its export target of $4 billion for the year as a whole. However, difficulties in shrimp farming and reduced production have resulted in shortages of materials at processing facilities.