Index of Industrial Production in October surges by 9 percent
SGGP
According to statistics of the General Statistics Office of Vietnam (GSO), the Index of Industrial Production (IIP) in October was estimated to increase by three percent over the last month and by 6.3 percent over the same period last year. In the first ten months of 2022, the IIP is estimated to surge by nine percent over the same period last year, up 3.8 percent over the same period in 2021.
Situation of industrial production in the first ten months of 2022 (Photo: the General Statistics Office of Vietnam)
Of which, the processing and manufacturing industry increased by 9.6 percent, up 5.1 percent over the same period in 2021, contributing to 7.4 percent point to the IIP; the electricity production and distribution increased by 7.8 percent, contributing 0.7 percent point; the water supply industry and waste management and treatment activities increased by 6.6 percent, contributing 0.1 percent point while the mining surged by five percent, contributing to 0.8 percent point to the general increase.
Particularly, the IIP in the first ten months of the year in 61 localities nationwide surged while the index in two localities decreased, comprising two provinces of Tra Vinh and Ha Tinh with reductions of 25 percent and 15.6 percent, respectively.
The number of laborers working in industrial enterprises by October 1 increased by 0.8 percent over the previous month and by 10.2 percent compared with the same period last year.
According to the GSO, there were 13,000 newly-established enterprises and 3,900 ones returning to operation. However, 4,058 enterprises registered to temporarily halt their business activities, 4,200 companies were performing the dissolution procedures and 1,602 finished the dissolution procedures.
Therefore, in the first ten months of the year, the whole country recorded 178,500 enterprises of new establishments and returning to business activities while 122,100 companies dissolved their business operation.
