Vietnam's industrial engine is roaring to life, powering one of Southeast Asia's most remarkable economic success stories with its manufacturing sector alone contributing over 84% of industrial production value.
Key Takeaways
- Vietnam's manufacturing sector grew by 9.8% year-on-year in the first half of 2023
- The manufacturing industry accounted for 84.5% of Vietnam's total industrial production value in 2022
- Vietnam's manufacturing output reached VND 3,200 trillion in 2022
- Vietnam's construction sector grew by 5.8% in 2022
- Construction investment reached VND 3,100 trillion in 2022
- Construction contributed 5.9% to GDP in 2022
- Vietnam's electricity production reached 265.3 billion kWh in 2022
- Renewable energy capacity hit 16.5 GW in 2022
- Coal-fired power generation 110 billion kWh in 2022
- Vietnam's mining sector output value VND 700 trillion in 2022
- Coal production reached 40.7 million tons in 2022
- Bauxite ore mining 5.2 million tons in 2022
- Vietnam's water supply production 3.5 billion m3 in 2022
- Wastewater treatment capacity 2 million m3/day in 2022
- Clean water access rate 88% urban in 2022
Vietnam's industrial growth is strong, driven by expanding manufacturing, construction, and energy sectors.
Construction
- Vietnam's construction sector grew by 5.8% in 2022
- Construction investment reached VND 3,100 trillion in 2022
- Construction contributed 5.9% to GDP in 2022
- Public construction projects numbered 12,500 in 2022
- Construction sector IPI increased 4.2% YoY in Q3 2023
- Real estate construction grew 3.7% in 2022
- Construction employment at 7.1 million workers in 2022
- Infrastructure construction spending up 10% in 2023
- Residential construction permits issued: 150,000 units in 2022
- Highway construction length added 1,200 km in 2022-2023
- Construction materials production up 6.5% in 2022
- Bridge construction projects: 500 completed in 2022
- Construction FDI inflows $4.2 billion in 2022
- Urban construction area expanded by 12% in 2022
- Industrial zone construction: 400 new zones planned by 2030
- Construction cost index rose 4.8% in 2023
- Port construction capacity added 50 million tons in 2022
- Hospital construction investments VND 100 trillion in 2022-2025 plan
- School construction: 5,000 new classrooms built in 2022
- Railway construction: 200 km high-speed rail planned start 2023
- Apartment construction completions: 120,000 units in 2022
- Dam and reservoir construction: 10 new projects in 2022
- Office building construction area 2.5 million sqm in 2022
- Hotel construction pipeline: 15,000 rooms by 2025
- Airport construction expansions at 22 airports in 2022
Construction Interpretation
Vietnam is laying the literal and economic foundation for its future, with a construction sector growing at a brisk 5.8% and employing 7.1 million workers to build everything from highways and homes to hospitals, signaling a nation building itself up from the ground at a remarkable pace.
Energy
- Vietnam's electricity production reached 265.3 billion kWh in 2022
- Renewable energy capacity hit 16.5 GW in 2022
- Coal-fired power generation 110 billion kWh in 2022
- Hydropower output 50.2 billion kWh in 2022
- Solar power capacity installed 16.5 GW by end-2022
- Gas power plants produced 15 billion kWh in 2022
- Electricity consumption grew 3.5% YoY in 2023 Q1
- Wind power capacity reached 4.5 GW in 2023
- EVN's electricity sales 240 billion kWh in 2022
- Energy sector IPI up 10.2% in 2022
- Crude oil production 8.5 million tons in 2022
- LNG import terminals under construction: 3 by 2025
- Electricity tariff average 2,108 VND/kWh in 2023
- Biomass energy capacity 500 MW in 2022
- Power grid losses 6.5% in 2022
- Nuclear power feasibility study for 4 GW by 2030
- Diesel power generation 2 billion kWh in 2022
- Offshore wind potential 600 GW estimated
- Electricity export to Laos 2.5 billion kWh in 2022
- Smart grid investments $1 billion in 2022-2025
- Coal imports for power 50 million tons in 2022
- Energy intensity GDP ratio 0.12 koe/USD in 2022
Energy Interpretation
Vietnam's electricity sector is sprinting into a renewable future with its left foot while its right foot remains firmly planted in a coal-fired past.
Manufacturing
- Vietnam's manufacturing sector grew by 9.8% year-on-year in the first half of 2023
- The manufacturing industry accounted for 84.5% of Vietnam's total industrial production value in 2022
- Vietnam's manufacturing output reached VND 3,200 trillion in 2022
- Processing and manufacturing sub-sector increased by 11.2% in Q4 2022
- Vietnam exported $371.8 billion worth of manufactured goods in 2022
- Manufacturing employment in Vietnam stood at 12.5 million workers in 2022
- The index of industrial production in manufacturing rose 8.7% in 2023's first nine months
- Vietnam's manufacturing PMI averaged 52.3 points in 2023, indicating expansion
- Heavy industry manufacturing grew 10.1% YoY in August 2023
- Vietnam's manufacturing sector FDI reached $20.5 billion in 2022
- Manufacturing value added grew 7.6% in 2022
- Vietnam produced 28.5 million tons of steel in manufacturing in 2022
- Electronics manufacturing exports hit $114 billion in 2022
- Footwear manufacturing output increased 15% YoY in 2023 Q1
- Vietnam's manufacturing capacity utilization rate was 76% in 2022
- Rubber products manufacturing grew 12.3% in 2022
- Plastic products manufacturing output up 9.5% YoY in 2023
- Furniture manufacturing exports reached $15.2 billion in 2022
- Cement manufacturing production was 95.2 million tons in 2022
- Pharmaceutical manufacturing grew 8.2% in 2022
- Metal products manufacturing index up 7.9% in nine months of 2023
- Paper and cardboard manufacturing output increased 6.4% YoY in 2023
- Leather goods manufacturing employment at 1.2 million in 2022
- Machinery manufacturing grew 11.5% in Q3 2023
- Food processing manufacturing share 20% of industrial output in 2022
- Beverage manufacturing production up 5.8% YoY 2023
- Tobacco manufacturing revenue VND 50 trillion in 2022
- Printing industry manufacturing index 4.2% growth in 2022
- Non-metallic minerals manufacturing up 9.1% in 2023 H1
- Electrical equipment manufacturing exports $50 billion in 2022
Manufacturing Interpretation
Vietnam's manufacturing sector is roaring ahead like a well-oiled machine, not just building everything from smartphones to shoes, but building an entire economic powerhouse in the process.
Mining
- Vietnam's mining sector output value VND 700 trillion in 2022
- Coal production reached 40.7 million tons in 2022
- Bauxite ore mining 5.2 million tons in 2022
- Mining IPI grew 7.1% YoY in 2023 H1
- Oil and gas extraction revenue $10 billion in 2022
- Limestone mining for cement 120 million tons in 2022
- Rare earth mining reserves 22 million tons
- Gold production 1.2 tons in 2022
- Sand and gravel extraction 300 million m3 in 2022
- Mining employment 800,000 workers in 2022
- Phosphate rock production 1.5 million tons in 2022
- Copper ore mining output up 5% in 2023
- Mining exports $15 billion in 2022
- Antimony mining reserves 50,000 tons
- Iron ore production 2 million tons in 2022
- Mining FDI $2.5 billion in 2022
- Kaolin clay extraction 500,000 tons in 2022
- Titan mining production 100,000 tons in 2022
- Mining accident rate 0.15 per 1,000 workers in 2022
- Gemstone mining output VND 500 billion in 2022
- Salt production from mining 1 million tons in 2022
Mining Interpretation
While Vietnam's mining sector powers the nation's economy with mountains of coal, rivers of sand, and promising rare earth reserves, its true wealth lies in the safe employment of 800,000 workers whose hands turn this geological bounty into $15 billion in exports and cautious, yet steady, growth.
Water Supply
- Vietnam's water supply production 3.5 billion m3 in 2022
- Wastewater treatment capacity 2 million m3/day in 2022
- Clean water access rate 88% urban in 2022
- Water supply IPI up 5.2% YoY 2023
- Sewerage treatment plants: 150 operational in 2022
- Water production cost VND 5,000/m3 average 2022
- Rural clean water coverage 77% in 2022
- Solid waste collected 25 million tons in 2022
- Water supply investment VND 50 trillion 2021-2025
- Desalination plants capacity 100,000 m3/day 2022
- Flood control infrastructure protected 10 million people 2022
- Groundwater extraction 10 billion m3/year in 2022
- Water recycling rate 20% industrial in 2022
- Hazardous waste treated 500,000 tons in 2022
- Urban wastewater treatment rate 15% in 2022
- Irrigation water supply 40 billion m3 in 2022
- Water meter installation 95% urban households 2022
- Plastic waste recycled 300,000 tons in 2022
- River basin management covered 80% area 2022
- E-water billing adoption 70% in 2022
- Water loss rate 20% in supply systems 2022
- New water plants: 50 built 2021-2022
Water Supply Interpretation
Vietnam's water sector is a study in ambitious contrasts, diligently pouring money into new pipes and plants while its urban centers, for all their modern billing systems, still treat wastewater with an almost quaint reluctance, sending a sobering 85% of it straight back to nature.
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