Vietnamese enterprises foresee better performance in Q2 2024: GSO

30 Apr '24

1 min read

Vietnamese enterprises foresee better performance in Q2 2024: GSO

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Insights

Vietnam's processing and manufacturing enterprises have forecast better performance in Q2 2024 despite global headwinds, a government survey revealed.
The index of industrial production (IIP) grew by 5.7 per cent YoY in Q1, with 26 out of 33 industries displaying growth.
Production of key exports like garments, textiles, shoes and related items bounced back.

Vietnam’s processing and manufacturing enterprises have forecast better performance in the second quarter (Q2) this year despite global headwinds posed by conflicts and high production costs, a survey by the country’s general statistics office revealed.

Though more stringent requirements on quality, production process, information and green production will pressurise domestic businesses, 82 per cent of the respondent firms expect their business will improve from Q1 2024, while only 18 per cent foresee more difficulties.

The index of industrial production (IIP) grew by 5.7 per cent year on year (YoY) in Q1 2024, with 26 out of 33 industries displaying growth and 12 of them posting two-digit expansion.

Production of key exports like garments, textiles, shoes and related items bounced back.

Bac Giang, Thanh Hoa, Quang Ninh, Hai Phong, Vinh Phuc and Thai Nguyen were some of the industrial hubs that saw high increases in IIP in Q1 2024.

Fibre2Fashion News Desk (DS)

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