Industrial production in May continued the recovery trend, estimated to increase by 4% month-on-month and by 10.4% year-on-year due to the control of the Covid-19 epidemic, businesses have adapted to new context, overcome difficulties to recover and expand production and business. Generally, in the first 5 months of 2022, the industrial production index increased by 8.3% over the same period last yea[1]r.
The Index of Industrial Production (IIP) in May 2022 was estimated to increase by 4% over the previous month and by 10.4% over the same period last year. In which, compared with the same period last year, the processing and manufacturing industry increased by 12.1%; water supply, waste and wastewater management, and treatment activities increased by 5.5%; mining industry increased by 4.2%; electricity production and distribution increased by 2.4%.
Overall, in the first 4 months of 2021, the IIP was estimated to increase by 7.5% over the same period last year (the same period in 2021 was 9.5%). Of which, the manufacturing rose by 8.3% (the same period last year up 12.1%), contributing 6.5 percentage points to the general growth; electricity production and distribution went up by 6.6%, contributing 0.6 percentage points; the mining and quarrying peaked up by 2.6%, contributing 0.4 percentage point; water supply, waste and wastewater management, and treatment peaked up by 1.1%, contributing 0.02 percentage points to the general growth rate.
The index of production in the first 5 months of 2022 belonging to 2-digit industrial activities significantly increased compared to the same period last year: Wearing apparel production increased by 22%; Manufacture of electrical equipment increased by 20.4%; Manufacture of pharmaceuticals, medicinal chemical and botanical products increased by 16.8%; Other mining and quarrying (stone, sand, and clay), Manufacture of leather and related products increased together by 13.5%; Manufacture of computer, electronic and optical products increased by 11.6%; Manufacture of fabricated metal products, except machinery and equipment increased by 11.5%; Manufacture of machinery and equipment n.e.c increased by 11.2%. In the opposite direction, the IIP index of some industries decreased: Manufacture of rubber and plastics products decreased by 13.8%; Repair and installation of machinery and equipment decreased by 9.8%; drainage and wastewater treatmen Sewerage and sewer treatment activities decreased by 3%; Manufacture of coke and refined petroleum products decreased by 2.6%; Extraction of crude petroleum and natural gas decreased by 1.7%.
The industrial production index in the first 5 months of 2022 compared to the same period last year increased in 61 localities and decreased in 02 localities across the country. Some localities have a high IIP index due to the strong recovery of the processing and manufacturing industries when the epidemic is under control[2]. On the other hand, some localities have low or low IIP index increase or decrease because business activities are still facing many difficulties due to the impact of the Covid-19 epidemic, and the processing and manufacturing industry has not regained momentum growth as high as before the epidemic[3].
Some major industrial products in the first 5 months of 2022 increased sharply over the same period last year: Phone accessories (21.6%); Urea fertilizer (17.9%); Textile fabric from natural yarn (14.5%); Coal (pure) (13.4%); Processed fishery products (11.4%); Beer (10.5); Automobile (10.3%); Monosodium glutamate (9.5%). In the opposite side, a number of products decreased compared to the same period last year: Television (-18.2%); Textile fabric from polyester or artificial yarn (-9.8%); Mobile phone (-7.1%); Aquatic feed (-7.0%); Petroleum (-3.7%); Crude steel, iron (-3.5%); Extracted crude oil (-2.0%); Natural gas (in the form of air) (-1.4%).
The number of employees working in industrial enterprises as of 01/5/2022 was up 1.4% over the same period last month and rose by 4.4% over the same period last year. Of which the number of working employees in the state-owned enterprise sector was up 0.1% and decreased by 4.5%; non-state enterprises rose by 1.1% and declined by 1.3%; enterprises of foreign direct investment peaked by 1.8% and surged by 1.6%. By industry, the number of employees working in mining and quarrying was up 0.2% over the same period last month and went down by 2.2% over the same period last year; manufacturing was up 1.5% and increased by 4.8%; the production and distribution of electricity kept unchanged and peaked up by 1.2%; the water supply, sewerage, waste management, and remediation activities were constant and rosed by 2.4%.
[1] The growth rate of industrial production index in the first 5 months of the year 2018-2022 compared to the same period last year were: 10.3%; 9.5%; 1.7%; 10%; 8.3% respectively.
[2] Some localities with high production index of the processing and manufacturing industry in the first 5 months of 2022 compared with the same period last year were Bac Lieu up 7.8%; Quang Binh increased by 10.9%; Lai Chau increased 13%; Thanh Hoa increased by 17.3%; Bac Ninh increased by 19.9%; Quang Nam increased by 22.4%; Binh Phuoc increased 22.6%; Ha Giang increased by 25.8%; Bac Giang increased by 45.7%
[3] Some localities where the production index of the processing and manufacturing industry in the first 5 months of 2022 decreased or increased slightly compared to the same period last year: Tra Vinh decreased by 1.3%; Ha Tinh down 0.1%; Ninh Binh increased by 1.3%; Ho Chi Minh City increased by 2.1%; Dak Nong increased by 3.8%; Bac Kan increased by 4.1%; Tien Giang increased by 4.5%; Long An increased by 5%.