According to data released by the General Statistics Office (Ministry of Finance) on the morning of April 6, 2025, the industrial production index (IIP) in the first quarter of 2025 is estimated to have increased by 7.8% compared to the same period last year (Q1/2024 increased by 5.9%).
In particular, the manufacturing and processing sector increased by 9.5% (Q1/2024 increased by 6.0%), contributing 7.9 percentage points to the overall growth; the electricity production and distribution sector increased by 4.6%, contributing 0.4 percentage points; the water supply, waste and wastewater management and treatment sector increased by 11.6%, contributing 0.2 percentage points; the mining sector decreased by 4.7%, reducing the overall growth by 0.7 percentage points.
The report from the General Statistics Office recorded that the production index in Q1/2025 of several key level-II industries increased compared to the same period last year, including: motor vehicle manufacturing increased by 36.1%; leather and related products manufacturing increased by 18.1%; apparel manufacturing increased by 14.6%; furniture manufacturing (beds, wardrobes, tables, chairs) increased by 12.9%; machinery and equipment repair, maintenance and installation increased by 12.8%; rubber and plastic products manufacturing increased by 12.7%; other transport equipment manufacturing increased by 11.8%; wood processing and manufacturing of wood, bamboo, and rattan products increased by 11.0%; manufacturing of electronic products, computers, and optical products increased by 10.6%; textiles increased by 9.9%; food processing increased by 8.6%.
On the other hand, the IIP index of several industries declined: crude oil and natural gas extraction decreased by 9.6%; electrical equipment manufacturing decreased by 1.1%; beverage manufacturing decreased by 0.7%.
Growth/decline rates of the IIP in Q1 compared to the same period in previous years (2021-2025) for several key industries (%). Source: General Statistics Office
Regarding the industrial production situation of provinces and cities nationwide in Q1/2025 compared to the same period last year, the report from the General Statistics Office states that 59 localities recorded increases and 4 localities recorded decreases.
Among them, the localities with a high increase in the manufacturing and processing industry’s production index in Q1/2025 compared to the same period last year include: Phu Tho increased by 44.0%; Bac Kan increased by 31.8%; Bac Giang increased by 27.2%; Nam Dinh increased by 23.5%; Ha Nam increased by 18.6%; Tay Ninh increased by 16.1%; Hue increased by 14.0%.
Localities with a high increase in the electricity production and distribution sector: Hoa Binh increased by 89.0%; Hue increased by 47.5%; Lai Chau increased by 35.3%; Tra Vinh increased by 22.2%; Ha Nam increased by 10.4%.
Conversely, the localities with low or negative growth in the manufacturing and processing industry’s production index in Q1/2025 compared to the same period last year include: Lao Cai increased by 1.5%; Ha Tinh decreased by 7.1%; Cao Bang decreased by 7.0%; Gia Lai decreased by 0.5%.
Localities with low or negative growth in the electricity production and distribution industry in Q1/2025 compared to the same period last year: Cao Bang increased by 0.2%; Binh Thuan increased by 0.1%; Ba Ria - Vung Tau decreased by 27.5%; Bac Lieu decreased by 18.9%; Lao Cai decreased by 5.2%; Gia Lai decreased by 1.7%.
Localities with a decline in the mining industry’s production index in Q1/2025 compared to the same period last year include: Gia Lai decreased by 18.5%; Ba Ria - Vung Tau decreased by 11.5%; Soc Trang decreased by 11.1%; Hanoi decreased by 5.4%.
Growth/decline rate of IIP in Q1/2025 compared to the same period last year for several localities (%). Source: General Statistics Office.
According to the report from the General Statistics Office, in Q1/2025, several key industrial products increased compared to the same period last year, such as automobiles increased by 81.5%; televisions increased by 22.9%; fabrics woven from natural fibers increased by 18.6%; compound NPK fertilizers increased by 15.8%; casual wear increased by 14.3%; phone components increased by 12.0%; leather shoes and sandals increased by 9.1%; feed for aquaculture increased by 7.4%.
On the contrary, some products declined compared to the same period last year: natural gas decreased by 12.9%; crude oil extracted decreased by 6.4%; fabrics woven from synthetic fibers decreased by 2.4%; rolled steel decreased by 1.8%; mobile phones decreased by 1.7%; chemical paints decreased by 0.9%.
Regarding the consumption index of the entire manufacturing and processing industry, the report from the General Statistics Office shows that in March 2025 it increased by 6.5% compared to the previous month and increased by 3.5% compared to the same period last year. In total, in Q1/2025, the consumption index of the manufacturing and processing industry increased by 5.4% compared to the same period in 2024 (Q1/2024 increased by 8.2%).
The inventory index of the entire manufacturing and processing industry is estimated as of March 31, 2025, to have increased by 5.9% compared to the previous month and increased by 15.1% compared to the same period last year (same period last year increased by 14.1%). The average inventory rate of the entire manufacturing and processing industry in Q1/2025 was 90.0% (Q1/2024 average was 68.7%).
Regarding the labor situation in industrial enterprises, the report from the General Statistics Office states that as of March 1, 2025, the number of workers increased by 1.1% compared to the previous month and increased by 4.8% compared to the same period last year. Of which, labor in state-owned enterprises increased by 0.1% and 0.6%; non-state enterprises increased by 0.7% and 3.1%; foreign-invested enterprises increased by 1.4% and 5.8%.
By industry, the number of workers in mining enterprises decreased by 0.4% compared to the previous month and decreased by 1.1% compared to the same period last year; the manufacturing and processing industry increased by 1.2% and 5.2%; the electricity, gas, hot water, steam, and air conditioning production and distribution industry and the water supply, waste and wastewater management and treatment industry remained equivalent to the previous month and increased by 0.2% and 1.5% respectively compared to the same period last year.
Source: VnEconomy
