Vietnam Industry October 2018

Vietnam

Vietnam: Industrial production growth decelerates in October

October 30, 2018

Industrial production expanded 7.7% in annual terms in October, a solid, albeit more moderate expansion than September’s 9.1% increase.

The deceleration came primarily on the back of a sharp contraction in the mining and quarrying sector, due to sizeable declines in the extraction of crude oil and natural gas. Meanwhile, the manufacturing sector continued to grow at a double-digit pace, while growth in the electricity and gas supply sector, and the water supply, sewerage, waste management and remediation activities sector gained steam in October.

In month-on-month terms, industrial production picked up, growing 5.3% in October (September: +0.8% month-on-month). Annual average growth in industrial output fell to 11.7% in October from 12.5% in September.

FocusEconomics Consensus Forecast participants estimate that industrial output will grow 9.1% in 2019, which is up 0.2 percentage points from last month’s forecast. For 2020, panelists expect industrial production to expand 7.9%.


Author:, Economist

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Vietnam Industry October 2018 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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