In the January-September period, industrial production expanded by 9.63% over the same period last year, of which the processing and manufacturing industry rose by 10.69%, contributing 2.74 percentage points to the growth of the IPP.
Electricity production and distribution recorded a growth of 7.71%, while water supply and waste treatment increased by 7.03%.
Additionally, as of September 30, the inventory index of the entire processing and manufacturing industry also soared by 7.3% compared to August and increased by 13.4% over the same period last year.
According to the GSO, the six factors that have the greatest influence on the production and business of enterprises in the third quarter, include the high competitiveness of domestic products, low domestic market demand, financial difficulties, low international market demand, shortage of raw materials, and difficulties in recruiting workers.
Since 2020, the COVID-19 pandemic has disrupted the supply chains while the Russia-Ukraine conflict has pushed up fuel prices throughout the world, in addition to high inflation in the US, Europe and developed countries. All these factors have created effects on domestic business activities.
