Vietnam Industry July 2022

Vietnam

Vietnam: Industrial output notches quickest growth since April 2021 in July

July 29, 2022

Industrial output expanded 22.6% compared to the same month of the previous year in July, which was above June's 20.3% increase. The reading marked the strongest expansion since April 2021. July's rise was largely due to faster growth in manufacturing production. In addition, electricity production rebounded.

Meanwhile, the trend improved notably, with the annual average growth of industrial production coming in at an over one-year high of 7.6%, up from June's 5.5% reading.

FocusEconomics Consensus Forecast panelists estimate that industrial output will grow 15.9% in 2022, which is up 0.9 percentage points from last month’s forecast, and expand 6.6% in 2023.


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Vietnam Industry July 2022

Note: Year-on-year variation of industrial production index in %.
Source: General Statistics Office of Vietnam (GSO) and FocusEconomics calculations.


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