Industry in Vietnam
Vietnam - Industry
Industrial production declines in January on Lunar New Year celebrations
Industrial production contracted 5.5% in January year-on-year, contrasting December’s 6.2% expansion. January’s reading was driven chiefly by lower output in the manufacturing and mining sectors. However, the Lunar New Year holiday distorted the reading, since there were fewer working days in January 2020 compared to a year prior.
Industrial production growth should bounce back in February, and is forecast to remain elevated in 2020, 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, thanks to a cheap workforce and business-friendly government. However, due to its open nature, the economy will remain vulnerable to a potential global economic slowdown, while possible U.S. tariffs would also hurt industrial activity.
FocusEconomics Consensus Forecast participants estimate that industrial output will grow 9.1% in 2020, which is unchanged from last month’s forecast. For 2021, panelists expect industrial production to expand 9.4%.
Vietnam - Industry Data
| 2014 | 2015 | 2016 | 2017 | 2018 | |
|---|---|---|---|---|---|
| Industrial Production (annual variation in %) | 7.6 | 9.8 | 7.5 | 9.4 | 10.2 |
Vietnam Industry Chart
Source: General Statistics Office of Vietnam and FocusEconomics calculations.
Vietnam Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 3.38 | -0.13 % | Dec 31 |
| Exchange Rate | 23,173 | 0.01 % | Jan 01 |
Sample Report
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
Economic News
-
Vietnam: Manufacturing PMI declines further in January but remains in expansionary territory
February 3, 2020
According to data released by IHS Markit, the manufacturing Purchasing Managers’ Index (PMI) registered 50.6 in January, down from 50.8 in December.
-
Vietnam: Inflation reaches multi-year high in January
January 29, 2020
According to the General Statistics Office of Vietnam, consumer prices rose 1.23% in January over the prior month, down from December’s 1.40% increase.
-
Vietnam: Industrial production declines in January on Lunar New Year celebrations
January 29, 2020
Industrial production contracted 5.5% in January year-on-year, contrasting December’s 6.2% expansion.
-
Vietnam: Manufacturing PMI dips in December but stays in expansionary territory
January 2, 2020
According to data released by IHS Markit, the manufacturing Purchasing Managers’ Index (PMI) registered 50.8 in December, marginally below November’s 51.0 reading.
-
Vietnam: Industrial production growth picks up in December
December 29, 2019
Industrial production rose 6.2% in December year-on-year, up slightly from November’s revised 5.5% expansion (previously reported: +5.4% in November year-on-year).
© Copyright: 2020 | Vietnam Industry | Privacy Policy | Cookies Policy | Terms & Conditions | Sitemap | RSS feed ...
