The industrial production index in August 2023 is estimated to have increased by 2.9% over the same period.
The industrial production index increased in 49 localities
According to the socio-economic reports for August and the first 8 months of 2023 of the General Statistics Office, announced on August 29, the industrial production index of the whole industry in August 2023 is estimated to increase by 2.9% compared to the previous month and by 2.6% over the same period last year.
In particular, compared to the same period last year, the processing and manufacturing industry increased by 3.5%; electricity production and distribution increased by 3.7%; water supply, waste and wastewater management and treatment activities increased by 1.8%; only the mining industry decreased by 6.2%.
However, the General Statistics Office perceived that the world economic situation in the first months of 2023 faced many difficulties that affected the results of domestic industrial production.
Overall, for the first 8 months of 2023, the entire industrial production index is estimated to decrease by 0.4% compared to the same period last year (the same period in 2022 increased by 9.2%). Of which, the processing and manufacturing industry decreased by 0.6% (the same period in 2022 increased by 10.1%), reducing the overall increase by 0.3 percentage points; the electricity production and distribution industry increased by 1.7%, contributing 0.2 percentage points; water supply, waste and wastewater management and treatment activities increased by 4.8%, contributing 0.1 percentage point; and the mining industry decreased by 2.5%, causing a decrease of 0.4 percentage points.
Notably, the production index in the first 8 months of 2023 of a number of key level II industries increased compared to the same period last year: production of coke and refined petroleum products increased by 9.9%; production of tobacco products increased by 8.6%; production of products from rubber and plastic increased by 8.4%; production of prefabricated metal products (except for machinery and equipment) increased by 7%; metal ore mining increased by 6.5%; production of chemicals and chemical products increased by 5.6%; food production and processing increased by 5.4%.
On the contrary, the industrial index of some industries decreased: manufacturing of electronic products, computers, and optical products decreased by 3.9%; manufacturing machinery and equipment not classified elsewhere decreased by 4.1%; production of other non-metallic mineral products decreased by 4.4%; wood processing and production of products from wood, bamboo, cork, paper production, and paper products all decreased by 4.8%; production of clothing decreased by 5.1%; production of other means of transport decreased by 6%; motorized vehicle production decreased by 6.5%.
In addition, the industrial production index in the first 8 months of 2023 compared to the same period last year increased in 49 localities and decreased in 14 localities across the country.
Some localities have had a fairly high increase in the industrial production index due to the processing and manufacturing industry; the electricity generation and distribution industry increased.
On the contrary, some localities have a decreasing industrial production index due to the processing and manufacturing industries; mining and electricity production and distribution decreased.
Some key industrial products in the first eight months of 2023 also increased compared to the same period last year: granulated sugar increased by 34.9%; mixed fertilizer N.P.K increased by 14.2%; gasoline, oil increased by 10.1%; television increased by 10%; chemical paint increased by 9.5%; cigarettes and man-made textiles both increased by 8.6%; rolled steel increased by 6.5%. In the opposite direction, a number of products decreased compared to the same period last year: cars decreased by 20.4%; mobile phones decreased by 17.7%; bar steel and angle steel decreased by 15.5%; motorcycles decreased by 7.4%; casual clothing decreased by 5.8%; cement decreased by 5.6%; phone components decreased by 4.7%.
Labor in the industrial sector increased again
The number of workers working in industrial enterprises as of August 1, 2023, increased by 0.9% compared to the same time last month and decreased by 2.9% compared to the same time last year.
In which, the number of employees in the state-owned enterprise sector was equivalent to the previous month and decreased by 1.9% compared to the same time last year; non-state enterprises increased by 0.4% and decreased by 2.9%; foreign-invested enterprises increased by 1.3% and decreased by 3%.
By industry, the number of workers working in mining enterprises remained unchanged compared to the same time last month and increased 0.1% compared to the same time last year; the processing and manufacturing industry increased by 1% and decreased by 3.1%; the production and distribution of electricity, gas, hot water, steam, and air conditioning remained unchanged compared to the same time last month and decreased 1.4% compared to the same time last year; water supply, waste, and wastewater management and treatment activities increased by 0.1% and 1.4%.