Index of industrial production in December of 2022

Industrial production in the fourth quarter of 2022 tends to slow down, the growth rate of value added was estimated at 3.6% over the same period last year. For the whole year of 2022, the value added of the industry increased by 7.69% compared to last year, of which the manufacturing industry increased by 8.10%.

The value-added of the whole industry in 2022 was estimated to increase by 7.69% compared to last year Of which, the manufacturing industry increased by 8.10%, contributing 2.09 percentage points to the overall growth of the whole economy; Electricity, gas, steam, and air conditioning supply increased by 7.05%, contributing 0.26 percentage points Water supply; sewerage, waste management, and remediation activities increased by 7.45%, contributing 0.04 percentage points; the mining industry increased by 5.19% (due to an increase in coal mining output by 4.7% and gaseous natural gas by 8.3%), contributing 0.17 percentage points to the overall increase.

The index of industrial production ( IIP) tended to decrease in the fourth quarter due to declining orders, high input costs, and shortage of raw material supply, of which the IIP December 2022 was estimated to decrease by 1% compared to the previous month and only increased by 0.2% over the same period last year; in the fourth quarter of 2022, the IIP increased by 3%. The 2022 IIP was estimated to increase by 7.8%, of which a number of 2-digit industries highly increased: Beverage production increases (32.3%); Manufacture of pharmaceuticals, medicinal chemicals, and botanical products (19.2%); Manufacture of machinery and equipment n.e.c (19.1%); Manufacture of wood and of products of wood and cork (17.2%); Manufacture of leather and related products (15.6%); Manufacture of wearing apparel (14.8%); Manufacture of other transport equipment (12.3%); Manufacture of paper and paper products (10%). In the opposite direction, the IIP of some industries decreased: The manufacture of basic metals (-2.5%) and; Manufacture of rubber and plastics products (-6.6%).

The industrial production index in 2022 compared to the previous year increased in 61 localities and decreased in 02 localities across the country. Some localities with the IIP index achieved a relatively high increase due to the processing and manufacturing industries; electricity generation and distribution industry increased. On the other hand, some localities have a low or low increase in IIP due to the manufacturing industry; Mining and quarrying; electricity production, and distribution industry increase or decrease.

Some key industrial products in 2022 increased sharply compared to the previous year: Beer (35.3%); Processed fishery products (15.7%); Phone accessories (15.1%); automobiles (14.9%); Petroleum (13.7%); chemical paint (10.4%); Steel bars and corners and Motorbike (both by 9.9%); Monosodium glutamate (9.3%); Leather footwear (8.8%). In the opposite direction, the number of products decreased compared to the previous year: Extracted crude oil and television (-1.3%); aquatic feed (-3.8%); N.P.K mixed fertilizer (-7.7%); mobile phones (-9.1%); Crude steel, iron (-12.3%).

The consumption index of the whole processing and manufacturing industry in December 2022 increased by 0.3% compared to the previous month and decreased by 0.6% over the same period last year. In general, in 2022, the consumption index of the entire manufacturing industry increased by 7.1% compared to 2021 (the previous year increased by 4.8%).

The inventory index of the entire manufacturing industry as of December 31, 2022, was estimated to increase by 10.1% over the same period last month and 13.9% over the same period last year (the same period last year increased by 21.3%). The average inventory rate of the whole manufacturing industry in 2022 was 78.1% (in 2021 was 79.2%).

The number of employees working in industrial enterprises as of December 1, 2022, increased by 0.4% over the same period last month and by 0.3% over the same period last year. Of which, state-owned enterprises increased by 0.1% and 0.9%; non-state enterprises increased by 0.4% and 0.9%; foreign-invested enterprises increased by 0.5% and decreased by 0.1%. By industry, the number of employees working in mining enterprises increased by 0.1% over the same period last month and 2.7% over the same period last year; manufacturing increased by 0.4% and 0.2%; Electricity, gas, steam, and air conditioning supply remained unchanged and increased by 0.1%; Water supply; sewerage, waste management, and remediation activities increased by 0.1% and 1.2%.