Dec 2023 sales index of processing, manufacturing up 3.1% in Vietnam

13 Jan '24

1 min read

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The sales index of the Vietnamese processing and manufacturing sector in December last year rose by 3.1 per cent month on month and by 5.1 per cent year on year, government data show.
However, the index expanded by only 1.8 per cent last year, lower than the 7.1-per cent increase recorded in 2022.
The sector's added value in the year grew by 3.62 per cent.

The sales index of the Vietnamese processing and manufacturing sector in December last year rose by 3.1 per cent month on month and by 5.1 per cent year on year, according to the ministry of industry and trade (MoIT).

However, the index expanded by only 1.8 per cent last year, lower than the 7.1-per cent increase recorded in 2022.

The sector’s added value in the year, meanwhile, grew by 3.62 per cent, contributing 0.93 per cent of the entire economy’s added value, and its inventories reached 87.5 per cent compared with 78.1 per cent in 2022, a domestic news agency reported.

The figures indicate difficulties for the sector, the ministry said.

The sector’s added value grew at the lowest rate in the 2011-2023 period, thus contributing not much to the national economic growth.

ALCHEMPro News Desk (DS)

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