Vietnam Jan-July industrial production up 8.5%, mobile phone falls 3.2%

Vietnam’s Jan-July index of industrial production (IIP) grew 8.5% in year-on-year, driven by the manufacturing sector (up 9.7%), but mobile phones production fell 3.2%.

The General Statistics Office (GSO) reported Monday that the growth indicated a strong performance, compared to a 0.8% fall in the same period of 2023.

Following the manufacturing-processing sector in pushing up Jan-July growth this year was electricity production and distribution with 12.4% and water supply and waste-wastewater treatment with 7.2%. However, the mining sector fell 6.2%.

In manufacturing, the sub-sector of electronics, computers and optical products recorded a growth of 11.1%, above the industrial sector average.

Some sub-sectors with strong performances were plastics and plastic products with 28.7%, furniture with 21.5%, and chemicals and chemicals products with 17.3%.

Some key sub-sectors with below-average performances were food processing with 7.4%, beverage with 0.8%, crude oil and natural gas exploitation with negative 12.4%, coal exploitation with negative 6.2%.

Some products with negative growth were beer with 2.54 billion liters, down 3.8%; and mobile phones with 15.7 million devices, down 3.2%.

Three localities recorded worse year-on-year performances in Jan-July, namely the central province of Quang Ngai with negative 4.3% growth, the central province of Ha Tinh with negative 2.1%, and the Central Highlands province of Gia Lai with negative 1.9%.

Ba Ria-Vung Tau, the fourth-biggest recipient of registered FDI in the year to July 20, recorded a minor growth of 0.1%, partly due to the province’s mining sector falling 14.3% in the seven-month period.