Vietnam - Industrial Production

Vietnam: Industrial Production

Mnemonic IP.IVNM
Unit Index 2015=100, NSA
Adjustments Not Seasonally Adjusted
Monthly 5.11 %
Data Feb 2023 137.12
Jan 2023 130.46

Series Information

Source General Statistics Office of Vietnam
Release Industrial Production Index
Frequency Monthly
Start Date 1/31/2008
End Date 2/28/2023

Vietnam: Business

Reference Last Previous Units Frequency
Industrial Production Feb 2023 137.12 130.46 Index 2015=100, NSA Monthly
Change in Inventories 2021 151,762 131,756 Bil. VND Annual
Real Change in Inventories 2021 99,495 91,998 Bil. 2010 VND Annual

Release Information

For Vietnam, the Main Industrial Products released by the General Statistical Office (GSO) is based on the volume of production. It covers the following industries: mining, manufacturing, electricity, gas and water supply.


  • Classification:
    • Taxonomy: VSIC 2007
    • Scope: Sections B to E
  • Measurement: Fixed-base index relative to 2015 (Index 2015=100)
  • Adjustment: Not seasonally adjusted (NSA)
  • Native frequency: Monthly
  • Start dates:
    • 2017m1 for general index
    • 2018m1 otherwise


  • 2010=100 - 2013* to 2017
  • 2005=100 - 2008 to 2012

Raw values (discontinued):

  • Measurements:
    • Thousands count (Ths. #)
    • Millions count (Mil. #)
    • Thousands of tons (Ths. kg)*
    • Square meters (Mil. m2)
    • Cubic meters (Mil. m3)
    • Fixed-base index
    • Moving-base index relative to corresponding period of previous year (Index M/M)*
  • Cumulations:
    • None
    • Year-to-date (YTD)
  • Start date: As early as 2005m1
  • End date: As late as 2016m12

From 2008, the GSO concurrently publishes two types of IPI:

First, the monthly IPI is calculated based on the indicator "gross industrial output at constant 1994 prices" which has been published for many years. The IPI measures changes in physical production volume, detailed by groups of commodity industries. Currently, output is recorded at producers' prices.  The volume data are collected monthly from all state-owned enterprises. The data for other enterprises are estimated based on the results of sample surveys. The response rate of selected enterprises is around 90 to 95 percent. The missing data are estimated by using growth in closely related enterprises that have responded.

Second, the new Industrial Production Index uses the base year of 2015. The new index measures changes in the volume of main industrial products with the weight of value added. The new index is calculated from the data of a selected sample of establishments. The sample is selected at 3 levels with at least 75% representation for 3 industries at one digit:

  • industries at 4 digit having the largest value added.
  • products having the largest value added.
  • establishments having the largest volume of products.

The response rate for selected establishments is around 92 to 95 percent.


Monthly estimates are released on day 24 or 25 of the reference month.

Moody's Analytics supplements

We back-extend the general index using its predecessors. The source also reports an annual average year-over-year index for each year, which we apply to ensure that each annual average is at the correct level relative to the latest reported data. Because we prioritize the year-over-year indexing, the annual average for 2015 does not exactly equal 100.

Data is revised when new data becomes available.

Further reading

At IMF (e-GDDS):