The Industrial Production Index (IPI) for Vietnam’s food processing and manufacturing industry increased by 3.09 percent in November compared to October, highlighting steady month-on-month growth, according to Vietnam’s General Statistics Office. This growth reflects a healthy demand for processed food products domestically and internationally.
Year-on-year, the sector achieved notable growth of 10.91 percent in November 2024 compared to the same period in 2023. Over the first 11 months of 2024, the IPI for food processing and manufacturing rose by 7.65 percent compared to the same period last year, underscoring its significant contribution to Vietnam’s industrial output.
This growth can be attributed to rising consumer demand, export market expansion, and improvements in production technology. Vietnam’s agricultural base provides a steady supply of raw materials, which, combined with increased foreign investment, has bolstered the food processing industry’s capacity and efficiency.
The food processing and manufacturing sector remains a cornerstone of Vietnam’s industrial landscape, driving job creation and economic growth. Continued emphasis on quality standards and innovation will ensure sustained performance in this vital industry.
See also: Food and Beverage Industry in Vietnam