The IPI for electronic components manufacturing surged by 11.84 percent in November compared to October, showcasing impressive month-on-month growth, according to Vietnam’s General Statistics Office.
Year-on-year, the sector saw a 13.84 percent increase in November 2024 compared to the same period in 2023. Over the first 11 months of 2024, cumulative growth stood at 9.36 percent, highlighting the sector’s strong contribution to Vietnam’s industrial landscape.
This growth is driven by rising global demand for semiconductors and key components used in electronics and renewable energy devices. Vietnam’s competitive production capabilities and favourable trade agreements have bolstered its standing in international markets.
Electronic components manufacturing plays a vital role in Vietnam’s industrial development, ensuring its continued relevance in global supply chains. Innovation and workforce development will be key to sustaining growth.
See also: Electronics Manufacturing in Vietnam