Vietnam Industrial Output Growth Quickens Strongly

Vietnam’s industrial production rose 6.9% year-on-year in March 2026, sharply picking up from an upwardly revised 0.6% gain in the previous month, driven by stronger activity as operations resumed after the Lunar New Year holiday. Output growth accelerated significantly in manufacturing (7.5% vs 1.2% in February) and water supply, waste management, and wastewater treatment (12.1% vs 1.0%). At the same time, activity rebounded in mining and quarrying (2.6% vs -4.0%) as well as in electricity and gas supply (4.6% vs -1.2%). On a monthly basis, industrial output surged 18.8%. For the first quarter of the year, industrial production rose 9.0% from the same period in 2025.

Vietnam’s industrial production edged up 1.0% yoy in February 2026, slowing sharply from a downwardly revised 19.4% surge in the previous month and marking the weakest growth since January 2025. The slowdown largely reflected reduced activity during the Lunar New Year holiday, which typically disrupts manufacturing operations. Output growth in the key manufacturing sector eased sharply (2.3% vs 23.6% in January). Meanwhile, production contracted across several other sectors, including mining and quarrying (-5.3% vs 15.8%%), electricity and gas supply (-4.5% vs 16.7%), and water supply, waste management, and wastewater treatment (-5.6% vs 10.6%). On a monthly basis, industrial output dropped 18.4%. Despite the February slowdown, industrial production in the first two months of 2026 still increased 10.4% compared with the same period a year earlier.

Vietnam’s industrial production surged 21.5% year-on-year in January 2026, sharply accelerating from a 10.1% increase in the previous month and marking the 12th straight month of expansion. The latest reading marked the fastest since April 2021, largely reflecting seasonal factors tied to pre-Lunar New Year production. Output growth strengthened across most sectors, including manufacturing (23.6% vs 10.9% in December), electricity and gas supply (14.1% vs 11.2%), and water supply, waste management, and wastewater treatment (13.6% vs 6.3%). Meanwhile, mining and quarrying picked up sharply (10.3% vs 0.2%). On a monthly basis, industrial output edged down 0.2%, reversing a 0.2% gain in December. In 2025, industrial production rose 9.2% from the prior year.