Vietnam’s processing and manufacturing industry demonstrated robust performance in October 2024, driven by both monthly and annual gains. The latest data on Vietnam’s industrial production index reveals a 3.6 percent increase in production compared to September 2024, showcasing steady monthly growth within the sector. This suggests a consistent recovery as the industry ramps up output to meet rising demand.
Year-over-year, the industry exhibited even stronger results, with an 8.8 percent increase in output in October 2024 compared to October 2023. Cumulatively, the January-to-October 2024 period saw a 9.6 percent rise over the same period last year.
This consistent growth in Vietnam’s processing and manufacturing industry aligns with the country’s broader economic goals, especially as it positions itself as a key manufacturing hub in the region. However, the sector may still face challenges in maintaining this momentum as it navigates global economic uncertainties and supply chain disruptions.
See also: Manufacturing in Vietnam 2024