Vietnam Industry April 2020

Vietnam

Vietnam: Industrial activity plunges on Covid-19 contagion in April

May 1, 2020

Industrial output fell a staggering 11.4% in year-on-year terms in April, which contrasted March's 5.4% increase. April's figure marked the worst reading seen since at least 2014, when the current data series began.

The result was due to broad-based contraction as the Covid-19 pandemic disrupted supply to the industrial sector and caused production to halt. Manufacturing, mining and quarrying, and electricity output all shrank in April.

FocusEconomics Consensus Forecast participants estimate that industrial output will grow 1.2% in 2020, which is down 5.1 percentage points from last month’s forecast. For 2021, panelists expect industrial production to expand 10.0%.


Author: Angela Bouzanis, Lead Economist

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Vietnam Industry April 20 20

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


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