Vietnam Industry August 2018

Vietnam

Vietnam: Industrial production growth moderates in August

August 31, 2018

Vietnam’s industrial sector continued expanding at a strong pace in August, with output expanding 13.4% year-on-year, slightly down from 14.3% in July.

Looking at a breakdown of the data, August’s print reflected an across-the-board expansion in all sub-sectors. The manufacturing sector led the way, with a double-digit expansion in output. Both the electricity and gas supply sector, and water supply, sewerage, waste management and remediation activities sector also grew at a strong pace, although the rate of expansion was more moderate compared to the growth of manufacturing output. Mining and quarrying output also rose but did so at a much weaker pace.

In month-on-month terms, industrial production climbed 7.3% in August, following a 2.5% expansion over the previous month in July. Annual average growth in industrial output edged up to 12.8% in August from 12.4% in July.

FocusEconomics Consensus Forecast participants estimate that industrial output will grow 9.2% in 2018, which is up 0.4 percentage points from last month’s forecast. For 2019, panelists expect industrial production to expand 9.3%.


Author:, Economist

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Vietnam Industry August 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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