Industry in Vietnam
Vietnam - Industry
Industrial production growth accelerates in August
Industrial production rose 10.5% in August, up from July’s revised 9.8% increase (previously reported: +9.7% year-on-year). August’s figure was underpinned by strong momentum across all sectors: mining and quarrying, manufacturing, electricity and water supply.
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, thanks to a cheap workforce and business-friendly government.
FocusEconomics Consensus Forecast participants estimate that industrial output will grow 9.1% in 2019 and 9.0% in 2020.
Vietnam - Industry Data
|Industrial Production (annual variation in %)||5.9||7.6||9.8||7.5||9.4|
5 years of economic forecasts for more than 30 economic indicators.
Vietnam Industry Chart
Source: General Statistics Office of Vietnam and FocusEconomics calculations.
|Bond Yield||4.14||-0.13 %||Sep 04|
|Exchange Rate||23,200||0.01 %||Sep 04|
|Stock Market||978||0.15 %||Sep 04|
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September 3, 2019
According to data released by IHS Markit, the manufacturing Purchasing Managers’ Index (PMI) fell from 52.6 in July to 51.4 in August.
August 29, 2019
According to the General Statistics Office of Vietnam, consumer prices rose 0.28% in August over the prior month, up from July’s 0.18% increase.
August 29, 2019
Industrial production rose 10.5% in August, up from July’s revised 9.8% increase (previously reported: +9.7% year-on-year).
August 1, 2019
According to data released by Nikkei and IHS Markit, the manufacturing Purchasing Managers’ Index (PMI) inched up from 52.5 in June to 52.6 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).