Vietnam Industry August 2022


Vietnam: Industrial output grows at quickest pace in over four years in August

August 29, 2022

Industrial output increased 29.8% year on year in August (July: +21.2% yoy). The figure marked the best reading since January 2018. The improvement was partly due to faster growth in manufacturing production. In addition, electricity production improved.

Meanwhile, the trend ticked up, with the annual average growth of industrial production coming in at 10.7%, up from July's 7.4%.

FocusEconomics Consensus Forecast panelists estimate that industrial output will grow 14.9% in 2022, which is down 1.0 percentage points from last month’s forecast, and expand 7.4% in 2023.


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Vietnam Industry Chart

Vietnam Industry August 2022 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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