AsemconnectVietnam - Industrial production continued its double-digit growth in the third quarter of 2026, with the Index of Industrial Production (IIP) estimated to have risen by 14.8%.

Overall, the IIP increased by 12.3% during the nine-month period, the highest rate since 2019, driven by a 12.9% rise in the manufacturing and processing sector.
Improving energy efficiency in industrial production
According to the socio-economic report for September and the first nine months of 2026, released by the Statistics Office (Ministry of Finance), industrial production maintained double-digit growth in the third quarter of 2026; the Index of Industrial Production (IIP) is estimated to have increased by 14.8% year-on-year. For the nine-month period of 2026, the IIP rose by an estimated 12.3% compared to the same period last year, marking the highest nine-month growth rate since 2019. with the manufacturing and processing sector expanding by 12.9%.
The IIP for the third quarter of 2026 was estimated to have risen by 14.8% year-on-year, with the manufacturing and processing sector growing by 15.3%; electricity production and distribution by 12.8%; water supply, waste and wastewater management and treatment by 9.5%; and mining by 12.2%.
Overall, the IIP for the first nine months of 2026 was estimated to have increased by 12.3% compared to the same period last year (when it grew by 9.0%). Specifically, the manufacturing and processing sector grew by 12.9% (compared to 10.3% in the same period of 2025), contributing 10.0 percentage points to the overall growth; electricity production and distribution rose by 10.6% (versus 6.3% in the same period of 2025), contributing 0.9 percentage points; water supply, waste management, and wastewater treatment activities increased by 9.3% (versus 8.6% in the same period of 2025), contributing 0.1 percentage points; and the mining sector grew by 8.0% (reversing a 0.4% decline in the same period of 2025), contributing 1.3 percentage points.
The production index for the first nine months of 2026 showed significant growth across several key industrial sectors compared to the same period the previous year: metal production rose by 25.5%; beverage production by 17.4%; motor vehicle manufacturing by 15.3%; manufacture of electronics, computers, and optical products by 15.2%; manufacture of rubber and plastic products by 12.8%; manufacture of other transport equipment and food processing both increased by 12.5%; manufacture of furniture (beds, cabinets, tables, and chairs) rose by 12.4%; wood processing and manufacture of products from wood, bamboo, and rattan (excluding furniture) and manufacture of products from straw and plaiting materials rose by 12.3%; crude oil and natural gas extraction increased by 10.7%; textile production by 10.2%; and manufacture of fabricated metal products (excluding machinery and equipment) by 10.1%. Conversely, the IIP for certain sectors showed modest growth: the manufacture of leather and related products rose by 3.4%, while the mining of hard coal and lignite increased by 0.1%.
The Index of Industrial Production (IIP) for the first nine months of 2026 rose in all 34 localities compared to the same period last year. Several localities recorded significant IIP growth driven by strong performance in the manufacturing and electricity production and distribution sectors.
In contrast, some localities saw low IIP growth due to sluggish performance or declines in the manufacturing, mining, and electricity production and distribution sectors.
Several key industrial products recorded notable growth in the first nine months of 2026 compared to the same period last year: tablets (+36.5%), motorcycles (+28.1%), laptops (+26.2%), automobiles (+24.8%), rolled steel (+22.4%), processed seafood (+21.9%), refined sugar (+18.8%), steel bars and angles (+17.1%), beer (+14.7%), crude iron and steel (+13.3%), and aquatic feed (+12.0%). Conversely, some products saw declines compared to the same period last year: MSG (-7.7%), NPK compound fertilizers (-7.1%), and both LPG and leather footwear (-3.9%).
The consumption index for the entire manufacturing sector in September fell by 0.5% month-on-month but rose by 17.8% year-on-year. Overall, in the first nine months of 2026, the consumption index for the entire manufacturing and processing industry rose by 12.8% compared to the same period in 2025 (when it increased by 9.1%).
As of September 30, 2026, the inventory index for the entire manufacturing and processing industry is estimated to have increased by 4.3% month-on-month and by 11.9% year-on-year.
Source: VITIC/congthuong.vn