The Industrial Production Index (IPI) for fiber production increased by 0.87 percent in November compared to October, indicating consistent month-on-month growth, according to Vietnam’s General Statistics Office. This steady rise highlights the sector’s resilience and its critical role in Vietnam’s textile industry.
Year-on-year, fiber production saw significant growth of 10.03 percent in November 2024 compared to the same period in 2023. Over the first 11 months of 2024, the IPI for the sector expanded by 12.68 percent compared to the same period last year, underlining its robust performance as one of Vietnam’s industrial strengths.
The strong growth is attributed to rising global demand for textiles, Vietnam’s competitive labour costs, and the country’s growing reputation as a reliable exporter. Investments in advanced production technologies and partnerships with international markets have also enhanced the sector’s productivity.
As a key component of Vietnam’s textile and garment industry, fiber production supports both domestic manufacturing and export growth. Continued focus on innovation and sustainability will ensure the sector remains a key driver of Vietnam’s industrial success.
See also: Garment Manufacturing in Vietnam