Industrial production gains momentum for breakthrough growth
Vietnam’s industrial production continued its two-digit growth in the third quarter of 2026, with the Index of Industrial Production (IIP) estimated to rise 14.8% year on year, according to the National Statistics Office under the Ministry of Finance.
In the first nine months of 2026, IIP increased 12.3% year on year, the highest nine-month growth since 2019. Manufacturing and processing expanded 12.9%, continuing to serve as the main driver of overall industrial growth.
All 34 provinces and centrally-run cities recorded positive IIP growth. Leading the way was Ha Tinh with 40.2%, followed by Ninh Binh at 25%, Thai Nguyen at 23.2%, and Phu Tho and Nghe An both at 21.5%.
All four major industrial sectors posted growth, with manufacturing and processing rising 12.9%, electricity production and distribution 10.6%, water supply and waste and wastewater management 9.3%, and mining 8%.
Growth was also recorded across all tier-II industrial sectors, indicating that the expansion was not concentrated solely in the foreign-invested sector.
The production of electronics products and computers rose 15.2%, becoming a key technology-driven growth engine. Domestic industries linked to construction and investment also expanded strongly, with metal production increasing 25.5%, non-metallic mineral products 12.2%, and motor vehicles 15.3%.
Consumer-oriented industries also posted robust growth, including beverage production at 17.4% and food processing at 12.5%.
The quality of growth was reflected in a shift toward expanding long-term production capacity. Production of capital goods rose 15.4%, well above the 11.5% growth in consumer goods, suggesting that domestic and new-generation FDI capital is increasingly supporting capacity expansion rather than short-term consumption.
However, growth remained uneven. High-tech and construction-related material industries benefited strongly from investment flows, while labour-intensive sectors recovered more slowly, with textiles rising 7.8% and footwear 3.4%, amid high sea freight costs and new trade barriers.
The NSO noted that IIP growth in the first nine months of 2026 significantly exceeded the 9% recorded in the same period last year. Key products also posted strong increases, including tablets (36.5%), motorcycles (28.1%), laptops (26.2%), automobiles (24.8%) and rolled steel (22.4%).
Ho Chi Minh City and Hanoi recorded more moderate growth of 10.9% and 9%, respectively, below the national average of 12.3%.
Vietnam economy posts broad-based growth in first nine months of 2026
VOV.VN - Vietnam’s economy grew 9.01% in the first nine months of 2026, with stronger industrial output, investment, trade, tourism and services providing broad-based momentum for growth.
