The Industrial Production Index (IPI) for Vietnam increased by 2.29 percent in November 2024 compared to October, showing consistent month-on-month growth, according to Vietnam’s General Statistics Office. This reflects the steady expansion of the country’s industrial sector.
Year-on-year, the IPI rose by 8.94 percent in November 2024 compared to the same period in 2023. Over the first 11 months of 2024, cumulative growth reached 8.36 percent, demonstrating the resilience and vitality of Vietnam’s industrial economy.
This growth is driven by strong performances in key industries, including electronics, motor vehicle manufacturing, and furniture production. Rising domestic demand, coupled with robust export markets, has been instrumental in sustaining this positive trajectory.
Vietnam’s industrial sector remains a critical driver of the national economy, supporting employment and contributing significantly to GDP. Investments in innovation, sustainability, and global market integration will be essential for maintaining long-term growth.
See also: Manufacturing in Vietnam: Ultimate Guide