The Industrial Production Index (IPI) for household electrical appliances increased by 1.05 percent in November compared to October, showing moderate month-on-month growth, according to Vietnam’s General Statistics Office. This indicates the sector’s stable performance during the month.
Year-on-year, the sector posted a significant 15.73 percent growth in November 2024 compared to the same period in 2023. Over the first 11 months of 2024, cumulative growth stood at 9.98 percent, highlighting its contribution to Vietnam’s industrial output.
The sector’s growth is driven by rising domestic consumption and strong export demand for energy-efficient appliances. Vietnam’s competitive manufacturing capabilities and focus on innovation have further bolstered production and sales.
Household electrical appliances play an essential role in Vietnam’s consumer goods market and export economy. Investments in sustainable technologies and expanded market reach will ensure the sector remains competitive globally.
See also: Electronics Manufacturing in Vietnam