Industrial production grows 12.4 per cent in 10 months, fastest since 2019

Industrial production grows 12.4 per cent in 10 months, fastest since 2019

Industrial production increased in 33 provinces and cities during the January-October period, while Sơn La was the only locality reporting a decline, at 5 per cent.

Production at Honda Vietnam in Ninh Bình Province. Industrial production expanded 12.4 per cent in the first 10 months of 2026. — VNA/VNS Photo Nguyễn Chính

Industrial production expanded 12.4 per cent 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 per cent in October from the previous month and 15 per cent 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 per cent in October.

For the January-October period, manufacturing and processing grew 13 per cent, accelerating from 10.4 per cent in the same period last year and contributing 10.2 percentage points to overall industrial growth. Electricity production and distribution rose 10.6 per cent, up from 6.6 per cent, adding one percentage point.

Water supply and waste and wastewater management grew 9.2 per cent, compared with 8.5 per cent a year earlier.

Metal production recorded the strongest growth in the first 10 months with a 25.6 per cent increase, followed by beverages at 17.5 per cent and electronics, computers and optical products at 15.2 per cent.

Motor vehicle manufacturing rose 14.6 per cent, rubber and plastic products increased 13.6 per cent, and food processing expanded 12.9 per cent. By contrast, leather and related products manufacturing grew by a more modest 4.3 per cent, while hard coal and lignite mining declined 0.6 per cent.

Industrial production increased in 33 provinces and cities during the January-October period, while Sơn La was the only locality reporting a decline, at 5 per cent.

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.

Hà Tĩnh recorded the fastest growth of 42.1 per cent, followed by Ninh Bình 25.7 per cent and Thái Nguyên 23 per cent. 

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