Vietnam’s production of concrete and products from cement and plaster increased by 2.7 percent in December compared to November, according to Vietnam’s Industrial Production Index.
Year-on-year, the sector saw a significant decline of 24.6 percent in December compared to December 2023. However, cumulative production for the full year of 2024 grew by 2.3 percent compared to 2023, highlighting steady annual growth despite notable challenges.
The monthly growth in December indicates stabilisation in production activity, likely driven by year-end construction demand. However, the sharp year-on-year decline suggests difficulties earlier in the year, such as reduced construction projects, fluctuating costs, and shifting market dynamics. The modest annual growth reflects a slight improvement but still suggests Vietnam’s construction sector has some way to go to return to full strength.
Concrete and cement product manufacturing is a vital part of Vietnam’s construction sector, supporting infrastructure projects and urban development. Continued investment in production efficiency and sustainable practices is critical for meeting domestic demand and maintaining competitiveness in regional markets.
The modest annual growth demonstrates the sector’s importance to Vietnam’s industrial and construction landscape despite short-term setbacks.
See also: Construction Industry in Vietnam