Vietnam: Industrial output expands at fastest pace since January 2021 in June
June 29, 2022
Industrial output rose 22.8% year on year in June (May: +20.0% yoy). The result marked the strongest expansion since January 2021. The notable upturn largely reflected pickups in manufacturing and electricity output.
Meanwhile, annual average industrial production growth rose to 5.7% in June (May: +4.1%). This signals an improving trend in the industrial sector.
Looking ahead, industrial activity is projected to grow faster in 2022 than it did last year, as pandemic restrictions are gradually removed. That said, rising production costs, lingering supply chain bottlenecks and downturn among major trading partners will pose a challenge to Vietnam’s industrial recovery.