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.

The business production line at VSIP industrial park in Bac Ninh city.

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%.

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