Vietnam Industry July 2019

Vietnam

Vietnam: Industrial production growth rises in July

July 29, 2019

Industrial production rose 9.7% in July, up from June’s revised 9.0% increase (previously reported: +9.6% year-on-year). July’s figure was underpinned by an uptick in the mining and quarrying sector amid a rebound in coal output. The manufacturing sector continued to expand slightly over 10% in annual terms, while the electricity and water supply subsectors also grew strongly.

Industrial output growth should remain elevated going forward, spearheaded by a burgeoning manufacturing sector. Vietnam is an attractive low-cost base for manufacturing firms, including those looking to relocate from China due to the U.S.-China trade spat.

FocusEconomics Consensus Forecast participants estimate that industrial output will grow 8.9% in 2019 and 8.7% in 2020.


Author:, Economist

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Vietnam Industry July 2019

Note: Year-on-year variation of industrial production index in %.
Source: General Statistics Office of Vietnam (GSO) and FocusEconomics calculations.


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