Vietnam: Industrial production growth picks up in April
Industrial production rose 9.3% in annual terms in April, up from the 9.1% increase logged in March. April’s reading was driven by strong expansions in the manufacturing, and electricity, gas and steam subsectors. In contrast, the water supply, and mining and quarrying subsectors recorded more modest growth. Manufacturing—one of Vietnam’s key growth engines—has lost some momentum so far this year compared to last amid weaker global growth and soft electronics demand. However, the sector is still growing strongly compared to regional peers.
Annual average growth in industrial output edged down from 10.2% in March to 10.1% in April.