Vietnam skyline

Vietnam Industry February 2022

Vietnam: Industrial output records quickest growth since April 2021 in February

Industrial production rose 16.9% year-on-year in February (January: +3.6% yoy). The figure marked the best result since April 2021. February’s reading was largely due to faster growth in manufacturing output growth. In contrast, electricity production fell sharply.

Meanwhile, the trend improved, with the annual average growth of industrial production coming in at 3.3%, up from January’s 1.3% reading.

Looking ahead, industrial production is projected to accelerate significantly this year from 2021’s average level, as the pandemic abates and associated restrictions are eased. Moreover, 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, general uncertainty regarding the pandemic poses a downside 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