According to the General Statistics Office under the Ministry of Finance, the Index of Industrial Production (IIP) in January 2026 is estimated to decrease by 0.2% compared with the previous month, but increase by 21.5% compared with the same period last year. The result was largely driven by improved orders and a higher number of working days in January this year compared with the same month last year.

The manufacturing and processing sectors rose by 23.6% year on year; electricity production and distribution increased by 14.1%; water supply, waste and wastewater management and treatment climbed by 13.6%; and mining increased by 10.3%.

For some second-level key industries, production of other non-metallic mineral products increased by 41.9% year-on-year; motor vehicle manufacturing rose by 36.6%; metal production increased by 35.4%; chemical and chemical product production grew by 35.2%; paper and paper product production rose by 31.9%; beverage production increased by 26.1%; rubber and plastic product production climbed by 25.8%; tobacco product production rose by 25.6%; and garment production grew by 25.3% year-on-year.

By contrast, IIP of some industries posted more modest growth, including coke and refined petroleum production (up 9.3%) and crude oil and natural gas exploitation (up 6.2%).

The IIP in January 2026 increased across all 34 localities year on year. Several provinces and cities recorded strong growth, thanks manufacturing and processing, as well as higher output in electricity production and distribution.

A number of key industrial products saw sharp increases year-on-year in January 2026, including phone components (up 92.7%), motorcycles (up 54.3%), cement (up 48.9%), automobiles (up 48.5%), rolled steel (up 38%), processed seafood (up 30.7%), and powdered milk and chemical paint (both up 29.1%).

Meanwhile, several products declined compared with the same period last year, including urea fertiliser (down 40%) and mobile phones (down 6.1%).