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Industrial production continues to recover, engineering and manufacturing seen growth

28/10/2022

The added value of the whole industry in the first nine months of 2022 increased by 9.63% over the same period last year. The processing and manufacturing industry increased by 10.69%, contributing 2.74 percentage points to the increase in the total added value of the whole economy.

The processing and manufacturing industry continues to be the growth engine for the entire industry.

According to data announced by the General Statistics Office on the morning of September 29, 2022, industrial production in the third quarter of 2022 grew quite well because the business activities of enterprises were maintained and gradually recovered, the growth rate increased rapidly. added value was estimated at 12.12% over the same period last year.

In the first nine months of 2022, the added value of the industry increased by 9.63% over the same period last year (up 7.16% in the first quarter; 9.51% in the second quarter; 12.12% in the third quarter).

The processing and manufacturing industry increased by 10.69% (up 7.85% in the first quarter; 11.07% in the second quarter; 13.02 percent in the third quarter), contributing 2.74 percentage points. to the increase in the total added value of the whole economy; electricity production and distribution increased by 7.71%, contributing 0.31 percentage points; the water supply and waste and wastewater treatment industry increased by 7.03%, contributing 0.04 percentage points; the mining industry increased by 4.42%, contributing 0.15 percentage points to the overall increase.

Production indexes in the first nine months of 2022 of the number of key industries belonging to level II industries increased sharply over the same period last year, including Beverages increased by 31.9%; clothing increased by 22.5%; leather and related products by 20.4%; drugs, pharmaceutical chemicals, and medicinal materials increased by 18.3%; uncategorized machinery and equipment increased by 17.3%; wood processing and production of wood, bamboo and cork products increased by 16.4%; electrical equipment by 14.9%; production of other means of transport and production of tobacco products both increased by 11.4%.

In the opposite direction, the production index of the number of industries decreased, with rubber and plastic products down 5.4%; metal production falling 0.8%.

The rate of increase/decrease of the IIP index in 9 months of 2022 compared to the same period last year in 2018-2022 of some key industries.

The industrial production index in 9 months of 2022 compared to the same period last year increased in 61 localities and decreased in 02 localities across the country.

Some localities have high production indexes due to the processing and manufacturing industry; the electricity generation and distribution industry increased. On the contrary, some localities have low or low production indexes because the processing and manufacturing industry has not regained the high growth momentum as before the epidemic; the Mining industry and electricity production and distribution industry have increased or decreased.

In the first 9 months of 2022, the number of key industrial products increased sharply compared to the same period last year, including Beer up 35.8%; processed seafood increased by 20.4%; phone components increased by 17.3%; automobiles increased by 16.5%; bar steel, angle steel increased by 15.4%; casual wear increased by 13.2%; cigarettes increased by 11.4%; leather shoes and sandals increased by 10.2%; chemical paint increased by 10.1%; MSG increased by 9.6%.

In contrast, some products that decreased compared to the same period last year were iron and crude steel, which decreased by 13.7%; mobile phones fell 5.8%; mixed fertilizer NPK decreased by 4.1%; aquatic feed decreased by 3.3%; fabrics made from man-made fibers decreased by 3.1%; liquefied petroleum gas (LPG) down 2.5%; televisions of all kinds decreased by 1.8%; crude oil production decreased by 0.6%.

The report of the General Statistics Office also showed that the consumption index of the entire processing and manufacturing industry in September 2022 increased by 2.3% compared to the previous month and increased by 8.8% over the same period last year. In the first nine months of 2022, the consumption index of the entire processing and manufacturing industry increased by 9.7% over the same period in 2021 (in the same period in 2021, it increased by 2.8%).

The inventory index of the entire processing and manufacturing industry was estimated as of September 30, 2022, up 7.3% over the same period last month and up 13.4% over the same period last year (the same period last year). at the time of the previous year increased by 28.2%). The average inventory rate of the whole processing and manufacturing industry in 9 months of 2022 is 76.4% (the average for 9 months in 2021 is 81.1%).

The number of employees working in industrial enterprises as of September 1, 2022, increased by 1.1% over the same period last month and 21.8% over the same period last year. In which: State-owned enterprises increased by 0.1% and decreased by 6.5%; non-state enterprises increased by 0.5% and 17.4%; foreign-invested enterprises increased by 1.4% and 25.8%.

By industry, the number of employees working in mining enterprises increased by 0.1% over the same period last month and 2.5% over the same period last year; processing and manufacturing increased by 1.2% and 23.5%; electricity, gas, hot water, steam, and air-conditioning production and distribution remained unchanged and increased by 2.2%; water supply, waste and wastewater treatment, and management activities increased by 0.2% and by 5.5%.

Source: VnEconomy

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