According to the National Statistics Office, the industrial production index (IIP) rose 12.4% year on year in the first ten months of 2026, the highest growth for the same period during 2019–2026. The figures, presented by Phi Thi Huong Nga, head of the Industrial and Construction Statistics Division, were reported by VietnamPlus on 9 November 2026. The result strengthens the foundation for the double-digit economic growth target for 2026.
Processing and manufacturing remain the engine
Processing and manufacturing IIP rose 13%, contributing 10.2 percentage points to overall growth. Mining grew 7.1% (contributing 1.1 percentage points); electricity generation and distribution 10.6% (contributing one percentage point); and water supply, waste and wastewater management and treatment 9.2%.
- Metal production up 25.6%; beverage production up 17.5%.
- Electronic products, computers and optical products up 15.2%; motor vehicles up 14.6%.
- Rubber and plastic products up 13.6%; food processing up 12.9%.
Products and localities
Many key products grew strongly: tablets 36.6%, motorcycles 26.8%, laptops 25.9%, automobiles 25.1%, rolled steel 24%, steel bars and angles and processed seafood both 22.5%, refined sugar 18.9%, crude steel 17% and beer 14.6%. Some products declined, including monosodium glutamate (6.7%), NPK compound fertiliser (6.3%), televisions (5.1%) and liquefied petroleum gas (4.9%). Industrial production expanded in 33 provinces and cities, while Son La recorded a 5% decline.
Employment at industrial enterprises as of 1 October rose 0.8% month on month and 3.2% year on year, with processing and manufacturing up 0.9% and 3.4% respectively, a sign that companies are expanding production.
Key takeaways
- IIP rose 12.4% in ten months of 2026, the fastest for the period in 2019–2026.
- Processing and manufacturing grew 13%, contributing 10.2 percentage points; metals, electronics and autos led.
- Industrial employment rose 3.2% year on year, reflecting expanding production.