VIỆT NAM'S INDUSTRIAL PRODUCTION SEES 7.2% GROWTH IN TWO MONTHS

In February, the IIP saw a significant year-on-year increase of 17.2 per cent, though it experienced a month-on-month decline of 2.2 per cent, largely due to the timing of the Lunar New Year celebrations, which took place entirely in February last year.

Machinery components are manufactured at Vietnam Precision Industrial No. 1 Co. in Vĩnh Phúc Province. — VNA/VNS Photo Huy Hùng

HÀ NỘI — Việt Nam’s Index of Industrial Production (IIP) has risen by 7.2 per cent year-on-year in the first two months of 2025, according to the Ministry of Finance's General Statistics Office.

In February, the IIP saw a significant year-on-year increase of 17.2 per cent, though it experienced a month-on-month decline of 2.2 per cent, largely due to the timing of the Lunar New Year celebrations, which in 2024 took place entirely in February.

The manufacturing and processing sector led the growth with a 9.3 per cent year-on-year increase, while electricity production and distribution rose by 2.3 per cent and the water supply and wastewater treatment sector expanded by 8 per cent. However, the mining industry faced a 6.4 per cent decline.

Certain sectors saw notable IIP growth, including vehicle production (up 54 per cent), furniture (20 per cent), wood processing and production (13 per cent) and electronics, optical products and computers (10 per cent).

On the other hand, some industries experienced declines such as crude oil and natural gas exploitation (down 12 per cent), pharmaceutical chemicals and medicinal materials (down 10 per cent), petroleum coke and refined petroleum products (down 4 per cent) and tobacco (down 3 per cent).

The report also highlighted the top 10 localities with the highest IIP growth, led by Phú Thọ (47 per cent), Trà Vinh (41 per cent), Bắc Kạn (28 per cent), Bắc Giang (26 per cent), Hòa Bình (21 per cent), Thanh Hóa (19 per cent), Quảng Nam (18 per cent) and Nam Định (17 per cent). — VNS

Source: VNS