Vietnam Industry January 2019

Vietnam

Vietnam: Industrial production softens at outset of the year

January 29, 2019

Industrial production increased 7.9% over the same month of last year in January, moderating from the 11.4% rise registered in December.

Softer growth in January was primarily driven by easing manufacturing production, while mining and quarrying output contracted sharply in the month. Moreover, growth in the electricity and gas supply sector was also weaker in January. On a brighter note, water supply, sewerage, waste management and remediation activities picked up.

In month-on-month terms, industrial production growth fell 3.2% in January, contrasting the 1.4% rise registered in December. Meanwhile, annual average growth in industrial output plunged to 9.9% in January from 11.1% in December.

FocusEconomics Consensus Forecast participants estimate that industrial output will grow 9.2% in 2019, which is down 0.2 percentage points from last month’s forecast. For 2020, panelists expect industrial production to expand 8.1%.


Author:, Economist

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Vietnam Industry January 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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