Vietnam’s processing and manufacturing industry increased by 0.8 percent in December 2024 compared to November 2024, according to Vietnam’s Industrial Production Index.
Year-on-year, the industry expanded by 10.2 percent in December 2024 compared to the same month in 2023. Over the full year of 2024, cumulative growth reached 9.6 percent compared to 2023, underlining the strong performance of this key sector.
The modest month-on-month growth reflects stabilisation in production levels following consistent increases throughout the year. The significant year-on-year growth demonstrates robust demand for processed and manufactured goods, driven by both domestic consumption and export markets.
As a cornerstone of Vietnam’s economy, the processing and manufacturing sector benefits from increasing foreign direct investment, technological advancements, and a competitive workforce. Key industries such as electronics, textiles, and machinery continue to thrive, contributing substantially to Vietnam’s GDP.
The industry’s strong annual performance highlights its vital role in driving Vietnam’s economic development and maintaining its position as a global manufacturing hub.
See also: Manufacturing in Vietnam