Industry in Vietnam

Vietnam Industry | Economic News & Forecasts

Vietnam - Industry

Industrial output falls in May, albeit at reduced rate

Industrial output declined 3.1% compared to the same month a year earlier in May, which was a smaller contraction than April's 9.4% decrease.

May's result came on the back of a rebound in electricity generation and a smaller decline in manufacturing, likely as economic activity resumed following the lifting of lockdown restrictions.

Looking ahead, industrial production should continue to recover as economic activity ramps up. Moreover, the underlying strength of Vietnam’s industrial sector remains intact: 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.

FocusEconomics Consensus Forecast participants estimate that industrial output will grow 2.5% in 2020, which is up 1.3 percentage points from last month’s forecast. For 2021, panelists expect industrial production to expand 9.0%.

Vietnam - Industry Data

2014   2015   2016   2017   2018  
Industrial Production (annual variation in %)7.6  9.8  7.5  9.4  10.2  

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Vietnam Industry Chart

Vietnam Industry
Note: Annual variation of industrial production in %.
Source: General Statistics Office of Vietnam and FocusEconomics calculations.

Vietnam Facts

Value Change Date
Bond Yield3.38-0.13 %Dec 31
Exchange Rate23,1730.01 %Jan 01

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