Vietnam industry sector recovery continues with 3% Nov growth

Vietnam’s industrial sector continued its recovery as the index of industrial production (IIP) rose 3% in November from October, while the January-November index inched up 1% year-on-year.

The General Statistics Office (GSO) attributes the recovery to firms exerting more efforts to fulfill the year’s target and high demand during the year-end holidays.

The January-November performance was driven by a 1.1% growth in the manufacturing-processing sector, 3.2% in electricity production and distribution, 4.9% in water supply and waste-wastewater treatment. However, the mining sector dropped 2.8%.

The sectors with the best growth in January-November were plastics and plastic products with 11.8%, mining of metals with 11.1%, tobacco with 10.5%, and chemicals and chemicals products with 8.6%.

The poor performers were electronics, computers and optical products with negative 1.3%; wood processing and wooden products (-3.9%); manufacturing of vehicles with engines (-3.6%); manufacturing of other vehicles (-9%), and crude oil and natural gas exploitation (-4.2%).

Locality-wise, the best performer in January-November was the Mekong Delta province of Tra Vinh (27.4%), followed by the northern provinces of Bac Giang (20%), Phu Tho (17.4%) and Nam Dinh (15.3%); the central province of Khanh Hoa (13.5%) and the southern province of Kien Giang (13.4%).

The worst performers were the central province of Quang Nam (-26.2%), followed by the northern provinces of Son La (-20%), Ha Giang (-17.9%), Lai Chau (-15.1%), and Bac Ninh (-12.2%).