Industrial production posts fastest nine-month growth since 2019

Industrial production posts fastest nine-month growth since 2019

The combination of rising output and consumption, alongside a moderate increase in inventories, suggests that industrial production continued to expand while demand remained relatively strong, which will support manufacturing in the final months of 2026.

Production at PNS CHUN in Quảng Ngãi Province. Key manufacturing industries post double-digit growths in the first nine months of this year. — VNA/VNS Photo Hải Âu

The Industrial Production Index (IIP) rose 12.3 per cent in January - September over the same period last year, the fastest nine-month growth since 2019, with the manufacturing and processing remaining the main driver of expansion, the National Statistics Office said at a briefing on October 3.

The IIP rose 14.8 per cent year-on-year in the third quarter, marking the third consecutive quarter of double-digit growth.

During the nine-month period, manufacturing and processing output increased 12.9 per cent, up from 10.3 per cent in the same period last year, contributing 10 percentage points to the overall industrial production growth.

Electricity production and distribution rose 10.6 per cent, contributing 0.9 percentage point, while water supply and waste and wastewater management increased 9.3 per cent, contributing 0.1 percentage point.

Mining output rose 8 per cent, compared with a 0.4 per cent decline in the same period last year, contributing 1.3 percentage points to overall industrial growth.

The figures point to a broad-based recovery in industrial production, with double-digit growth recorded across key manufacturing industries, including metal production 25.5 per cent, beverage 17.4 per cent, motor vehicle 15.3 per cent, and electronics, computers and optical products 15.2 per cent  the NSO said. 

Crude oil and natural gas extraction reversed a 4.9 per cent decline in 2025 to grow 10.7 per cent this year.

Industrial production increased in all 34 provinces and  cities nationwide during the nine-month period, although growth rates varied significantly depending on the structure of local industries.

In manufacturing and processing, Hà Tĩnh recorded growth of 40 per cent, followed by Quảng Ninh at 33.6 per cent, Bắc Ninh at 29.3 per cent, Nghệ An at 25.8 per cent and Thái Nguyên at 23.7 per cent.

In electricity production and distribution, output in Quảng Trị surged 109.0 per cent, while Hà Tĩnh rose 49.5 per cent, Hưng Yên 15.3 per cent and Phú Thọ 13 per cent.

Industrial consumption rose 12.8 per cent in the nine-month period from the same period last year, compared to the growth rate of 9.1 per cent a year earlier.

Inventory at manufacturing and processing enterprises rose 4.3 per cent at the end of September from the previous month and 11.9 per cent from a year earlier.

The combination of rising output and consumption, alongside a moderate increase in inventories, suggests that industrial production continued to expand while demand remained relatively strong, which will support manufacturing in the final months of 2026, the NSSO said. 

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