Vietnam Industry June 2018

Vietnam

Vietnam: Industrial output accelerates markedly in June

June 29, 2018

Vietnam’s industrial sector grew again at a robust pace in June, with growth of the sector accelerating to 12.3% in annual terms from 7.1% in May.

Looking at a breakdown of the data, two out of the four sectors showed an improved performance, while the other two sectors deteriorated. The manufacturing sector grew at a faster pace of 15.5% in June compared to 9.1% in May, while the rate of contraction of the mining and quarrying sector eased to 3.6% in June from a 7.6% drop in May. On the other hand, electricity and gas supply lost some pace from the previous month, expanding 10.0% in June, down from 11.2% in May. Moreover, the water supply, sewerage, waste management and remediation activities sectors slowed slightly, with growth of the sector edging down to 8.0% in June from 8.2% in May.

In month-on-month terms, industrial production contracted 0.2%, contrasting growth of 2.2% in May. Annual average growth in industrial output edged up to 11.9% in June from 11.6% in May

FocusEconomics Consensus Forecast participants estimate that industrial output will grow 9.5% in 2018, which is up 0.8 percentage points from last month’s forecast. For 2019, panelists expect industrial production to expand 9.6%.


Author:, Economist

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Vietnam Industry June 2018 0

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


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