Business News 03/12/2023, 13:43

The entire industrial production index increased by 3% in November

The entire industrial production index in November was estimated to increase by 3% compared to the last month and by 5.8% compared to the same period last year.

The entire industrial production index increased by 3% in November

According to the socio-economic report for November and 11 months of 2023 of the General Statistics Office just announced on November 29, manufacturing enterprises are currently trying to find orders to complete production and business plans of the year as well as preparing goods to serve consumption at the end of the year. Industrial production in November continued a positive trend, with the industrial production index estimated to increase by 3% compared to the previous month and by 5.8% compared to the same period last year. Overall, for the first 11 months of 2023, the entire industry production index is estimated to increase by 1% compared to last year.

Specifically, the index of industrial production (IIP) in November was estimated to increase by 3% over the previous month and by 5.8% over the same period last year. In particular, compared to the same period last year, the processing and manufacturing industry increased by 6.3%; Electricity production and distribution increased by 9.2%; Water supply, waste and wastewater management and treatment activities increased by 3.3%; while the mining industry decreased by 3.8%.

Overall, for the first 11 months of 2023, IIP is estimated to increase by 1% compared to the same period last year (the same period in 2022 increased by 8.4%). Specifically, the processing and manufacturing industry increased by 1.1% (compared to a 8.7% increase in 2022), contributing 1.1 percentage points to the overall growth. The electricity production and distribution sector increased by 3.2%, contributing 0.2 percentage points. The water supply, waste and wastewater management and treatment activities increased by 4.9%, contributing 0.1 percentage points. The mining industry decreased by 2.8%, resulting in a 0.4 percentage point reduction in the overall growth.

Notably, the production index for the first 11 months of 2023 of some key industries increased compared to the same period last year. Specifically, the production of products from rubber and plastic increased by 11.8%; Metal ore exploitation increased by 11.1%; tobacco product production increased by 10.5%; Chemical and chemical product production increased by 8.6%; Production of products from prefabricated metal (except machinery and equipment) increased by 8.4%; Production of beds, wardrobes, tables and chairs increased by 7.1%; Food processing production increased by 6.2%; textile increased by 5.9%.

On the contrary, the IIP index of some industries decreased: Manufacturing of electronic products, computers and optical products decreased by 1.3%; Wood processing and production of products from wood, bamboo (except beds, cabinets, tables, chairs) decreased by 2.1%; Motor vehicle production decreased by 3.6%; Production of other non-metallic mineral products decreased by 3.9%; Crude oil and natural gas exploitation decreased by 4.2%; Production of other means of transport decreased by 9%.

The industrial production index in the 11 months of 2023 compared to the same period last year increased in 50 localities and decreased in 13 localities across the country. Some localities have had a fairly high increase in the IIP index due to the growth in the processing and manufacturing industry as well as the electricity production and distribution sector. On the other hand, some localities have decreased the IIP due to a decline in the processing and manufacturing industries as well as the mining and electricity production and distribution sector.

Some key industrial products in the first 11 months of 2023 increased compared to the same period last year. The refined sugar increased by 35.1%; NPK mixed fertilizer increased by 18%; cigarettes increased by 10.5%; rolled steel increased by 9.1%; fresh milk increased by 8.4%; textiles made from artificial fibers increased by 7.6%; TVs of all kinds increased by 7%; Chemical paint increased by 5.9%; LPG increased by 5.7%; Crude iron and steel increased by 5.5%; aluminum increased by 5.4%. On the contrary, some products decreased compared to the same period last year: Automobiles decreased by 15%; motorbikes decreased by 10.6%; mobile phones decreased by 9.6%; bar steel and angle steel decreased by 9.4%; Leather shoes and sandals decreased by 5.2%; natural gas decreased by 4.9%; cement decreased by 4.5%; Crude oil exploitation decreased by 3.5%; phone components decreased by 1.7%; Casual clothing decreased by 1.4%; Urea fertilizer decreased by 1.3%.

In particular, the number of workers working in industrial enterprises as of November 1, 2023, increased by 0.9% compared to the same time last month and decreased by 0.2% compared to the same time last year. Of which, workers in the State-owned enterprise sector increased by 0.1% and decreased by 1.4%; Non-state enterprises increased by 0.6% and decreased by 1.7%; Foreign-invested enterprises increased by 1.1% and 0.6%.

The number of workers working in mining enterprises increased by 0.1% compared to the same time last month and increased by 0.8% compared to the same time last year; Processing and manufacturing increased by 1.0% and decreased by 0.2%; Electricity, gas, hot water, steam and air conditioning production and distribution remained unchanged and decreased by 1.2%; Water supply, waste management and treatment activities, and wastewater increased by 0.2% and 2%.

 

Congthuong/ Translator: Ngoc Mai
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