Vietnam industrial production expands 6% in Jan-April

Vietnam's index of industrial production (IIP) remained on an upward trend, rising 6.3% year-on-year in April and 6% in January-April this year.

The corresponding figures for March and Jan-March were 4.1% and 5.7%, according to the General Statistics Office. The IIP declined 6.8% in February but went up 5.7% in Jan-Feb.

The Jan-April 2024 performance was driven by the manufacturing-processing sector with a 6.3% growth, electricity production and distribution with 12.3%, and water supply and waste-wastewater treatment with 5.3%. The mining sector, meanwhile, fell 4.6% year-on-year.

Localities with processing-manufacturing sector recording the highest growth were Phu Tho (29.6%), Bac Giang (24.1%), Ha Nam (15.5%) and Binh Phuoc (14.2%); while those with a decline or low growth included Ha Tinh (down 9%), Ca Mau (down 5.6%) and Gia Lai (up 0.5%).

The consumer price index (CPI) in April rose 0.07% over March. The index was up 1.19% against December 2023 and up 4.4% over April 2023.

On average, the Jan-Apr CPI rose 3.93% over the same period last year. Core inflation increased 2.81%.

The gold price index in April was up 6.95% over March, 17.01% over December 2023, and 28.62% over April 2023. This index’s average increase in Jan-Apr was 20.75%.

The US dollar price index in April rose 1.2% from March, 3.03% compared to December 2023, and 6.51% against April 2023. The average hike in Jan-April was 4.6%.

Total retail sales of consumer goods and services in April were estimated at VND522.1 trillion ($20.6 billion), up 9% year-on-year.

In Jan-April, the tally reached VND2,062.3 trillion ($81.37 billion), up 8.5% year-on-year. Excluding the price factor, the increase was 5.3%.