May's Industrial Production Index rose by 2.2% from April

Bich Phuong Thứ Ba | 30/05/2023 15:53

Photo: VNA / Danh Lam

The General Statistics Office reported a 2.2 percent increase in Vietnam's Index of Industrial Production in May compared to April and 0.1 percent year-over-year.

Manufacturing and processing saw a decrease of 0.5 percent year-on-year, while mining had a decrease of 2.9 percent.

On the other hand, the production and distribution of electricity, as well as water supply and sewerage and waste management and remediation operations, saw increases of 5% and 6.8%, respectively.

Despite this, the IIP for the first five months of the year was lower than it was the previous year by 2%. The continued challenges faced by the global economy as well as the fall in export orders were cited as the primary reasons for the decline.

During that time period, the Index of Industrial Productivity rose in 49 out of 63 different places.

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