Vietnam skyline

Vietnam Industry April 2021

Vietnam: Industrial output growth gains momentum in April

Industrial production rose 24.1% year-on-year in April (March: +6.1% yoy). Looking at the details of the release, April’s pick up was broad-based, with manufacturing, electricity and mining and quarrying sub-sectors all accelerating.

Meanwhile, the trend improved significantly, with the annual average growth of industrial production coming in at plus 6.6% in April, up from March’s 3.4%.

After last year’s slowdown, industrial production is projected to gain momentum on the back of returning demand from key international partners. Despite the ongoing Covid-19 pandemic, the underlying strength of Vietnam’s industrial sector remains intact: Vietnam is an attractive low-cost base for manufacturing firms, including those looking to relocate from China due to the U.S.-China trade tensions. That said, a relatively slow vaccine rollout, coupled with general uncertainty regarding the pandemic, pose a risk to the outlook.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest