On the morning of April 29, the General Statistics Office reported continued positive growth in industrial production for April. The IIP for April is estimated to have risen by 0.8 percent compared to the previous month and by 6.3 percent compared to the same period last year. Over the first four months of 2024, the IIP is estimated to have grown by 6 percent year-on-year, while it decreased by 2.5 percent in the same period in 2023.
In detail, the processing and manufacturing sector saw a 6.3 percent increase, contributing 5.5 percentage points to the overall growth. Meanwhile, the electricity production and distribution sector experienced a 12.3 percent rise, adding 1.1 percentage points to the total increase. Additionally, the water supply and waste management and treatment sector grew by 5.3 percent, contributing 0.1 percentage points. Conversely, the mining sector witnessed a 4.6 percent decrease, resulting in a reduction of 0.7 percentage points in the overall growth.
Regarding geographical distribution, the IIP for the first four months of 2024 increased in 54 localities and decreased in nine localities across the country compared to the same period last year.
According to the GSO, industrial production funded by the State budget in April reached nearly VND44 trillion, up 8.3 percent year-on-year. Cumulatively, for the first four months of 2024, State-budget-funded investment capital is estimated to have reached VND142.8 trillion, equivalent to 20.1 percent of the annual plan and up 5.9 percent compared to the same period last year. In 2023, it equaled 18.4 percent, with a 5.5 percent increase.
