In the first five months of the year, the Index of Industrial Production (IIP) surged 6.8 percent over the same period last year.
Of which, the processing and manufacturing industry soared 7.3 percent, down 2.6 percent over the same period of 2023, contributing 6.4 percent points to the general growth rate. Electricity production and distribution surged 12.7 percent, up 1.2 percent year-on-year, contributing 1.1 percent points to the general growth rate.
Besides, water supply, waste and wastewater management and treatment activities increased 6.3 percent, up 5.9 percent year-on-year, contributing to 0.1 percent point to the general growth rate. Meanwhile, the mining sector was down 5.2 percent, decreasing 2.4 percent over the same period of 2023, triggering the downturn of 0.8 percent point to the general growth rate.
The IIP in the first five months of the year surged over the same period last year in 55 localities and down in eight localities nationwide, according to the report.
Some localities that recorded a high growth rate were Phu Tho Province with 31.2 percent; Bac Giang Province with 24.9 percent, Binh Phuoc Province with 14.8 percent and so on. Some localities saw a slight increase such as Ha Giang Province with 0.4 percent and Bac Ninh with 0.05 percent.
Ha Tinh Province and Quang Ngai Province recorded a sharp fall of nine percent and 8.2 percent, respectively while the Mekong Delta province of Ca Mau reported a reduction of 2.5 percent.
