Industry in Vietnam

Vietnam Industry | Economic News & Forecasts

Vietnam - Industry

Industrial output records lowest expansion since March in October but stays robust

Industrial output expanded 17.4% compared to the same month of the previous year in October, which was a deceleration from September's 21.4% increase. October's result marked the weakest expansion since March. The slowdown came on the back of weaker growth in manufacturing, energy, mining and water production. Of the key subsectors, manufacturing growth remained by far the strongest, supported by the country’s attractiveness as a low-cost manufacturing base for foreign firms—particularly those looking to diversify supply chains away from China.

Meanwhile, the trend improved, with the annual average growth of industrial production coming in at 15.3% in October, up from September's 13.2% reading.

FocusEconomics Consensus Forecast panelists estimate that industrial output will grow 8.0% in 2023, which is up 0.8 percentage points from last month’s forecast, and expand 8.0% in 2024.

Vietnam - Industry Data

2015   2016   2017   2018   2019  
Industrial Production (annual variation in %)9.8  7.5  9.4  10.2  9.1  

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Vietnam Industry Chart

Vietnam Industry
Note: Annual variation of industrial production in %.
Source: General Statistics Office of Vietnam and FocusEconomics calculations.

Vietnam Facts

Value Change Date
Bond Yield3.38-0.13 %Dec 31
Exchange Rate23,1730.01 %Jan 01

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