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| Workers at Toyota Boshoku Hanoi Co., Ltd in Phu Tho province (Photo: VNA) |
Hanoi (VNA) – Vietnam’s industrial production maintained strong momentum in the first five months of 2026, with the Index of Industrial Production (IIP) rising 9.1% year-on-year, the highest growth rate for the period in the past four years, according to the Ministry of Finance’s National Statistics Office (NSO).
The office reported that the IIP expanded across all 34 provinces and cities during the period. Strong growth in manufacturing and processing, along with electricity production and distribution, drove industrial expansion in many localities, while some areas recorded slower growth due to weaker performance in manufacturing, mining and power generation.
In May alone, the IIP was estimated to increase 3.3% from the previous month and 8.8% year-on-year. Manufacturing and processing grew 9% compared to the same period last year, while water supply, waste and wastewater management activities rose 8.7%, electricity production and distribution increased 8.5%, and mining expanded 6%.
Overall, in the January–May, IIP growth of 9.1% surpassed the 8.8% increase recorded in the same period of 2025. Manufacturing and processing, the key driver of industrial growth, expanded 9.5%, contributing 7.4 percentage points to the overall increase. Mining rose 5.5%, reversing a decline in the corresponding period last year, while electricity production and distribution grew 7.6%.
Several major industries posted robust growth, including metal production (20.2%), motor vehicle manufacturing (18%), chemicals and chemical products (16.9%), other non-metallic mineral products (16.2%), and beverages (15.1%). In contrast, the production of hard coal and lignite mining declined 4.6%, while that of other transport equipment fell 1%.
Among key industrial products, motorcycle output surged 36% year-on-year, followed by automobiles (26.7%), processed seafood products (21.6%), rolled steel (21.5%), and sugar and beer, both up 14.4%. Meanwhile, production of NPK fertiliser fell 6.8%, MSG declined 6%, leather footwear dropped 5.7%, and clean coal production decreased 4.7%.
The labour market also showed positive signs. As of May 1, the number of employees working in industrial enterprises increased 1.1% from a month earlier and 3.4% year-on-year, the NSO said. Employment in foreign-invested enterprises rose 1.5% month-on-month and 3.4% year-on-year, while non-State enterprises recorded corresponding increases of 0.6% and 2.6%.
The broad-based growth of industrial production underscores the resilience of the sector and its role as a key driver of economic expansion, although continued efforts are needed to improve productivity, strengthen manufacturing and ensure sustainable growth./.
