In 2023, Vietnam's manufacturing sector accounted for 23.88 percent of the country's total GDP, reaching a value of over 2.4 quadrillion Vietnamese dong (VND). In that year, Vietnam's GDP totaled approximately 10.2 quadrillion VND.

Manufacturing sector in Vietnam

The production index of the manufacturing sector has steadily increased in the last years together with the share of employed people. In recent years, this sector has been among the sectors with the highest number of employed people in Vietnam. The country also recorded a growing number of newly established businesses for manufacturing. In 2022, the sector benefitted from investments at just over 801 trillion Vietnamese dong. Overall, the industry sector contributes the largest share to the country’s GDP.

Vietnam’s economic development

Vietnam is a developing country in Southeast Asia. Since its economic reform in 1986, it has become one of the fastest growing economies by more than doubling its GDP from 2010 to 2018. The GDP per capita increased by 2.5 times while poverty rates declined. With high foreign investment inflows and productivity growth, the country belongs to the so-called Tiger cubs.