Industrial production index in the first quarter of 2025 increased the highest in the past 5 years

According to data from the Statistics Office (Ministry of Finance), industrial production in the first quarter of 2025 continued to flourish, with the industrial production index estimated to increase by 7.8% over the same period last year. This is the highest increase in the first quarter since 2020. Of which, the processing and manufacturing industry increased by 9.5%.

The Industrial Production Index (IIP) in the first quarter of 2025 is estimated to increase by 7.8% over the same period last year (Q1/2024 increased by 5.9%). Of which, the processing and manufacturing industry increased by 9.5% (Q1.2024 increased by 6.0%), contributing 7.9 percentage points to the overall increase.

The electricity production and distribution industry increased by 4.6%, contributing 0.4 percentage points. The water supply industry, waste and wastewater management and treatment activities increased by 11.6%, contributing 0.2 percentage points. The mining industry decreased by 4.7%, down 0.7 percentage points in the overall increase.

The production index of the first quarter of 2025 of some key level II industries increased compared to the same period last year.

The industrial production index in the first quarter of 2025 compared to the same period last year increased in 59 localities and decreased in 4 localities across the country. Some localities with IIP achieved a fairly high increase due to the processing and manufacturing industry; the electricity production and distribution industry increased.

On the contrary, some localities have a low IIP index due to the processing and manufacturing industry; the mining industry and the electricity production and distribution industry increase or decrease.

Some key industrial products in the first quarter of 2025 increased compared to the same period last year: Automobiles increased by 81.5%; TVs increased by 22.9%; textiles made from natural fibers increased by 18.6%; NPK mixture increased by 15.8%; wearable goods increased by 14.3%; phone components increased by 12.0%; footwear and leather shoes increased by 9.1%; seafood increased by 7.4%.

On the contrary, some products decreased compared to the same period last year: Natural gas in the form of gas decreased by 12.9%; crude oil decreased by 6.4%; artificial fiber textiles decreased by 2.4%; rolled steel decreased by 1.8%; mobile phones decreased by 1.7%; chemical paint decreased by 0.9%.

The consumption index of the entire processing and manufacturing industry in March 2025 increased by 6.5% compared to the previous month and increased by 3.5% compared to the same period last year. In the first quarter of 2025, the consumption index of the entire processing and manufacturing industry increased by 5.4% over the same period in 2024 (same period in 2024 increased by 8.2%).

The inventory index of the entire processing and manufacturing industry is estimated at March 31, 2025, up 5.9% over the same period last month and up 15.1% over the same period last year (same period last year increased by 14.1%). The average inventory ratio of the entire processing and manufacturing industry in the first quarter of 2025 is 90% (average in the first quarter of 2024 is 68.7%).

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