Hai Duong’s industrial production index up 9.9%

Motor vehicle manufacturing continues to make a great contribution to the overall growth of industry

Hai Duong’s industrial production index in May rose by 3.1% month on month and 7.3% year on year, according to the provincial Statistics Office.

The province’s index in the first five months of 2023 increased by 9.9% compared to the same period last year.

Some fields contributed largely to the overall growth of the sector, including motor vehicle manufacturing with a rise of 24.9%, food processing (13.7%), electricity production and distribution (10.7%), and electronic production (8.3%).

Some other fields, however, recorded low growth or decreases, affecting the production index.

Those were metal production with a slight increase of 0.9%; non-metallic mineral products, down 1.4%; leather shoes, down 3.8%; garments, down 9.3%; electrical equipment, down 31.2%...

The reason is that industrial production activities of many enterprises in Hai Duong continued to face difficulties due to the slow recovery of the world economy.

Besides, China’s reopening led to fiercer competition in major export markets.

NM