AsemconnectVietnam - According to the socio-economic report for February and the first two months of 2026 published by the General Statistics Office (Ministry of Finance) on March 6th, the Lunar New Year (Year of the Horse) took place in February of 2026, resulting in fewer working days compared to the previous month and the same period last year.

The industrial production index for February of 2026 was estimated to decrease by 18.4% compared to the previous month and increase by 1.0% compared to the same period last year. Overall, for the first two months of 2026, the IIP increased by 10.4% compared to the same period last year.
In February of 2026, the industrial production index for the processing and manufacturing sector increased by 2.3% compared to the same period last year; the mining sector decreased by 5.3%; and the water supply, waste management and wastewater treatment sector decreased by 5.6%. Electricity production and distribution decreased by 4.5%.
Overall, in the first two months of 2026, the Industrial Production Index (IIP) was estimated to increase by 10.4% compared to the same period last year (compared to a 7.5% increase in the same period of 2025). Specifically, the manufacturing sector increased by 11.5% (compared to a 9.1% increase in the same period of 2025), contributing 8.9 percentage points to the overall increase; the electricity production and distribution sector increased by 6.3% (compared to a 4.3% increase in the same period of 2025), contributing 0.6 percentage points; the water supply, waste management and wastewater treatment sector increased by 2.1% (compared to a 12.9% increase in the same period of 2025), contributing 0.03 percentage points; and the mining sector increased by 5.4% (compared to a 5.2% decrease in the same period of 2025), contributing 0.9 percentage points to the overall increase.
Notably, the industrial production index for the first two months of 2026 in several key second-tier industries increased compared to the same period last year, such as the production of other non-metallic mineral products increased by 33.1%; metal production increased by 27.9%; beverage production increased by 20.9%; paper and paper product production increased by 20.4%; motor vehicle production increased by 20.3%; chemical and chemical product production increased by 20.1%; wood processing and production of wood, bamboo, and rattan products increased by 13.4%; food processing increased by 13.2%; garment production increased by 11.6%; textile production increased by 10.5%; production of beds, cabinets, tables, and chairs increased by 10.2%; production of rubber and plastic products increased by 9.3%; and production of electronic products, computers, and optical products increased by 8.0%.
Conversely, the Industrial Production Index (IIP) of some sectors decreased compared to the same period last year, such as hard coal and lignite mining decreased by 3.4%; production of other transport vehicles decreased by 2.7%.
Industrial production index increased in 34 localities.
The industrial production index for the first two months of 2026 increased compared to the same period last year in all 34 localities. Some localities achieved significant increases in the IIP thanks to the processing and manufacturing industry; and the electricity production and distribution industry. Conversely, some localities had low increases in the IIP due to low or decreased increases in the processing and manufacturing industry; the mining industry; and the electricity production and distribution industry.
Some key industrial products in the first two months of 2026 increased compared to the same period last year, such as cement increased by 30.5%; chemical paints increased by 27.5%; steel bars and angles increased by 25.7%; processed seafood increased by 24.8%. Automobiles increased by 24.0%; motorcycles by 22.5%; beer by 18.1%; and mobile phone components by 15.4%. Conversely, some products decreased compared to the same period last yea, such as urea fertilizer decreased by 16.7%; clean coal by 6.1%; mobile phones by 4.4%; textiles made from natural fibers by 4.2%; NPK compound fertilizer by 3.9%; and alumina by 0.5%.
The number of workers employed in industrial enterprises as of February 1, 2026 increased by 0.2% compared to the previous month and by 4.0% compared to the same period last year. Of these, the number of workers in state-owned enterprises decreased by 0.1% compared to the previous month and by 3.0% compared to the same period last year; non-state enterprises increased by 0.2% and decreased by 0.2%. Foreign-invested enterprises increased by 0.3% and 5.9%.
By sector, the number of employees working in mining enterprises remained unchanged compared to the same period last month and increased by 1.0% compared to the same period last year; manufacturing increased by 0.2% and 4.1%; electricity, gas, hot water, steam and air conditioning production and distribution increased by 0.1% and 2.6%; water supply, waste management and treatment decreased by 0.1% and increased by 4.3%.
CK
Source: VITIC/congthuong.vn