The industrial production index increased 16.06 percent year-on-year in May, marking its third consecutive month of growth, the Ministry of Economic Affairs reported.
The largest surge in 34 months was driven by manufacturing, water supply, and electricity and gas production gains. Manufacturing output, which makes up 95.39 percent of the index, grew 16.7 percent annually, surpassing estimates.
Key growth areas included computer and optical products (up 31.84 percent) and electronic components (up 29.31 percent), driven by AI and high-performance computing demand. Traditional industries like base metals and chemical materials also saw growth.
However, machinery equipment output fell 0.26 percent, and automobile and auto parts output dropped 9.09 percent due to weak global recovery and declining vehicle sales.
For the first five months of the year, industrial production rose 9.72 percent, with manufacturing output up 9.99 percent. The ministry expects continued growth this month, projecting an increase of 12.5 to 17.3 percent year-on-year.
