According to the Can Tho City Statistics Office, in 2024, the industrial production index (IIP) increased by 8.06% over the same period last year. The processing and manufacturing industry had a higher growth rate than the general growth rate (up 8.73%).
Some processing and manufacturing industries have a fairly high IIP index compared to the previous year. Garment production increased by 53.72%; Rubber and plastic product production increased by 37.32%; Prefabricated metal product production (except machinery and equipment) increased by 30.40%; Leather and related products production increased by 19.94%; Beverage production increased by 6.41%.
Key industrial products increased sharply compared to the same period, such as bags and pouches (including slats) made from other plastics increased 2.6 times. Plastic packaging manufacturing enterprises signed many supply contracts for partners. In the last months of the year, many agents and partners increased imports to serve consumer and shopping needs, so the production of plastic packaging products increased, reaching 15.5 million tons.
Ready-made garments increased by 74.73% with the quantity reaching more than 7 million pieces. As many businesses signed export contracts to the US and EU markets... Production orders are guaranteed until the end of the fourth quarter of 2024 and the first months of 2025.
Mineral and chemical fertilizers NPK increased by 67.96% with production output reaching 1.5 million tons. Enterprises signed export contracts to new markets and in 2024, fertilizer prices decreased slightly and stabilized, making the demand for fertilizer consumption in the domestic market better.
Seafood exports continue to recover, many businesses receive export orders to markets such as France, China, Taiwan, Singapore, Thailand, etc. In the last months of the year, the demand for seafood products increases, many agents increase the import of processed seafood products to serve the increasing demand of customers during the upcoming Lunar New Year. This leads to an increase in seafood production. Accordingly, frozen shrimp increased by 12.86%; frozen fillets increased by 12.21%.
According to the survey results on business trends of enterprises in the processing and manufacturing industry in the fourth quarter of 2024 compared to the previous quarter, 39% of enterprises assessed it as better; 21% of enterprises said they still faced many difficulties and 40% of enterprises said the production and business situation remained unchanged.
It is expected that in the first quarter of 2025 compared to the current quarter, 37% of businesses will assess the trend to be better; 15% of businesses will assess that the situation is still difficult and 48% of businesses will believe that production and business will not change.
