Vietnam skyline

Vietnam Industry

Vietnam Industry

Industrial Production in Vietnam

Vietnam's economy recorded average industrial production growth of 12.0% in the decade to 2022, significantly above the 4.1% average for the Asia-Pacific region. In 2022, industrial production growth was 15.5%. For more industry information, visit our dedicated page.

Vietnam Industry Chart

Note: This chart displays Industrial Production (annual variation in %) for Vietnam from 2014 to 2023.
Source: General Statistics Office of Vietnam.

Vietnam Industry Data

2018 2019 2020 2021 2022
Industrial Production (ann. var. %) 8.4 6.9 2.4 2.1 15.5

Industrial output records quickest growth since April 2021 in January

Industrial output increased 18.3% compared to the same month of the previous year in January, which followed December's 5.8% increase. January's print marked the best reading since April 2021. Looking at the details of the release, January's pickup was broad-based, with the manufacturing, electricity and mining and quarrying sub-sectors all gaining steam. That said, the January data was flattered by a low base effect; production fell sharply in January 2023 due to Lunar New year celebrations, which this year fall in February. Meanwhile, the trend improved, with the annual average growth of industrial production coming in at 4.2% in January, up from December's 2.0%.

A recovery in overseas goods demand should boost manufacturing and by extension overall industrial production in 2024 as a whole; industrial production growth in 2024 is likely to be the fastest in ASEAN.

Consensus Forecasts and Projections for the next ten years

How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Vietnamese industry projections for the next ten years from a panel of 3 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable industry forecast available for Vietnamese industry.

Download one of our sample reports to visualize what a Consensus Forecast is and see our Vietnamese industry projections.

Want to get access to the full dataset of Vietnamese industry forecasts? Send an email to

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