Data from Ho Chi Minh City Statistics Office indicates that in the first five months of 2026, the industrial production index (IIP) in the area increased by 11% compared to the same period in 2025, marking the highest growth since 2021.
The manufacturing and processing industry continued to lead this growth, rising by 11,8%, surpassing the overall sector increase. This also marks the first time the manufacturing and processing IIP has achieved double-digit growth in the first five months compared to the same period since Covid-19.
Ho Chi Minh City Statistics Office noted that industrial production "continues to maintain a stable growth pace" due to its flexible adaptation to market fluctuations, positive impacts from supportive policies, and robust public investment.
Consequently, the consumption index for the entire manufacturing and processing industry increased by 15,8% over the five months, with thriving sectors including: manufacturing of beds, cabinets, tables, and chairs (up 73,2%); chemicals (up 43,9%); electrical equipment (up 29,2%); and electronics (up 25,2%).
The city's exports also sustained a growth rate of 5,3% compared to the same period, reaching 39,47 billion USD in the first five months. Imports reached nearly 44,3 billion USD, an increase of almost 11%, signaling positive prospects for future orders.
The Purchasing Managers' Index (PMI) survey for May by S&P Global also reported a rebound in new orders, contributing to Vietnam's manufacturing growth in the middle of the second Quarter. The PMI for the past month rose to 52,8 points from 50,5 in April, the highest since February.
The US data analytics firm assessed that business conditions have generally improved for 11 consecutive months. However, Andrew Harker, Economics Director at S&P Global Market Intelligence, advised a cautious outlook on sustainability.
This is because the recent increase in orders is partly due to buyers' stockpiling efforts ahead of potential disruptions from the conflict in Iran. Additionally, manufacturing businesses are facing pressure from rising input prices, with costs (primarily fuel and transportation) increasing for four consecutive months.
"How events elsewhere in the world unfold will continue to be a key determinant of the manufacturing sector's performance in the coming months", Andrew Harker commented.
Vien Thong
