The report on industrial production and commercial activities in November and 11 months of 2022 of the Ministry of Industry and Trade shows that the index of industrial production (IIP) in November was estimated to increase by only 0.3% over the previous month and 5.3% over the same period last year. In the first 11 months of 2022, IIP is estimated to increase by 8.6% over the same period last year (in the same period in 2021, it increases by 4.2%).
According to the report, the Purchasing Managers' Index (PMI) of Vietnam's manufacturing industry dropped from 52.5 points in September to 50.6 points in October, the number of new orders has slowed down since September in major export sectors such as (textiles & footwear, electronics, furniture...), orders were less than expected, causing manufacturers to limit production increases from October...
Therefore, the index of industrial production (IIP) in November is estimated to increase only 0.3% over the previous month and 5.3% over the same period last year. In the first 11 months of 2022, IIP is estimated to increase by 8.6% over the same period last year (in the same period in 2021, it increases by 4.2%). In which, the processing and manufacturing industry increased by 8.9% (in the same period in 2021, it increased by 5.4%), contributing 6.8 percentage points to the overall growth; electricity production and distribution increased by 7.7%, contributing 0.7 percentage points; water supply, waste and wastewater treatment, and management activities increased by 7.1%, contributing 0.1 percentage points; the mining industry increased by 6.5%, contributing 1 percentage point to the overall increase.
Industrial production index in 11 months of 2022 compared to the same period last year increased in 61 localities and decreased in 02 localities across the country (Tra Vinh decreased by 24%; Ha Tinh decreased by 16.9%).
Production indexes in the first 11 months of 2022 of a number of key industries belonging to level II industries increased sharply compared to the same period last year as beverage production increased by 31%; production of costumes increased by 16.4%; production of leather and related products increased by 16.7%; production of drugs, pharmaceutical chemicals, and herbal ingredients increased by 17.5%; manufacturing machinery and equipment not classified elsewhere increased by 16.3%; wood processing and production of wood, bamboo and cork products increased by 18.4%; production of electrical equipment increased by 12.8%; production of other means of transport increased by 10.4%.
In the opposite direction, the IIP of the number of industries decreased such as the troduction of rubber and plastic products decreased by 7%; metal production fell by 2.6%.
Some key industrial products in the 11 months of 2022 increased over the same period last year such as beer of all kinds increased by 34.9%; automobiles by 17.3%; motorbikes by 10.8%; casual wear increased by 8.4%; leather footwear increased by 9.7%; Packaged cigarettes of all kinds increased by 9.1%. In contrast, the number of key industrial products in the 11 months of 2022 decreased compared to the same period last year, such as aptite ore down 11.4%; crude iron and steel fell by 16.6%; mobile phones down 6.1%; television decreased by 0.6%; diesel engine down 22.4%; machine tools decreased by 12.7%.
Comments that industrial production is facing a decrease in orders in major export industries such as (textiles, footwear, electronics, and furniture...), businesses reduce revenue and cut working hours. , reduce labor; the risk of shortage of input materials for production still exists, the Ministry of Industry and Trade has proposed an immediate solution to remove capital, open cash flow for production and business; propose the competent authorities to allow enterprises to continue with tax and credit support policies, etc., such as during the epidemic period.
INDEX OF INDUSTRIAL PRODUCTION (IIP) FOR 2018 - 2021