Industrial production grows 12.4% in 10 months, fastest since 2019
Industrial production expanded 12.4% in the first 10 months of 2026 from a year earlier, marking the fastest growth for the same period since 2019, supported by robust manufacturing and electricity output supported industrial activity, the National Statistics Office (NSO) said.
The industrial production index (IIP) rose 2.3% in October from the previous month and 15% year on year, the NSO said in its socio-economic report released on November 3.
Manufacturing and processing, as well as electricity production and distribution, both recorded annual growth of 15.7% in October.
For the January-October period, manufacturing and processing grew 13%, accelerating from 10.4% in the same period last year and contributing 10.2 percentage points to overall industrial growth. Electricity production and distribution rose 10.6%, up from 6.6%, adding one percentage point.
Water supply and waste and wastewater management grew 9.2%, compared with 8.5% a year earlier.
Metal production recorded the strongest growth in the first 10 months with a 25.6% increase, followed by beverages at 17.5% and electronics, computers and optical products at 15.2%.
Motor vehicle manufacturing rose 14.6%, rubber and plastic products increased 13.6%, and food processing expanded 12.9%. By contrast, leather and related products manufacturing grew by a more modest 4.3%, while hard coal and lignite mining declined 0.6%.
Industrial production increased in 33 provinces and cities during the January-October period, while Son La was the only locality reporting a decline, at 5%.
The NSO attributed stronger performance in several localities mainly to manufacturing growth and higher electricity production and distribution. Areas recording slower growth or declines were affected by weaker manufacturing, mining or electricity output.
Ha Tinh recorded the fastest growth of 42.1%, followed by Ninh Bình 25.7% and Thai Nguyen 23%.
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.
