Vietnam: Industrial output growth accelerates in April
April 30, 2018
Growth in Vietnam’s industrial sector continued accelerating in April, as output rose 9.4% in annual terms in the month following an 8.7% expansion in March.
Looking at a breakdown of the data, the manufacturing, and electricity and gas sectors picked up pace from the previous month. In annual terms, manufacturing output expanded 12.3% in April following an expansion of 11.1% in March, and electricity and gas supply grew 9.6% after rising 8.3% in the previous month. On the other hand, the water supply, sewerage, waste management and remediation activities sector decelerated sharply, with the pace of expansion falling from 8.3% in March to 2.6% in April. Moreover, mining and quarrying output contracted at a swifter rate, dropping 5.0% in April after a 3.6% decline in the previous month.
Industrial production decelerated sharply in month-on-month terms, as growth of the sector fell from 25.3% in March to 1.5% in April. Annual average growth in industrial output edged up to 11.6% in April from 11.4% in the previous month.
Author: Nihad Ahmed, Economist