The Industrial Production Index (IPI) for garment manufacturing increased by 2.25 percent in November compared to October, reflecting steady month-on-month growth, according to Vietnam’s General Statistics Office. This performance underscores the continued expansion of the garment sector amid rising demand.
Year-on-year, garment manufacturing recorded a remarkable 18.07 percent growth in November 2024 compared to the same month in 2023. Over the first 11 months of 2024, the IPI for this sector grew by 10.83 percent compared to the same period last year, solidifying its position as a vital driver of Vietnam’s industrial growth.
The sector’s success can be attributed to strong export demand, competitive production costs, and advancements in technology. Vietnam’s participation in trade agreements and its skilled workforce have further enhanced its reputation as a global leader in garment manufacturing.
Garment manufacturing remains a cornerstone of Vietnam’s industrial economy, generating significant employment and foreign exchange earnings. Continued investment in sustainability and production efficiency will ensure the sector maintains its upward trajectory.
See also: Garment Manufacturing in Vietnam