Vietnam Manufacturing 2026 — Exports, FDI & Industrial Base
Reviewed October 2026 Each figure below is labelled with its source year; we use the latest publicly available data.
Overview
Vietnam's manufacturing sector is the engine of the economy and the country's rise as a global factory. In 2025, processing and manufacturing grew about 10.5% and the industrial production index rose 9.2% — a seven-year high — powering a record ~$475 billion in exports. Growth is led by export-oriented FDI and the "China + 1" supply-chain shift, concentrated in industrial clusters around Hanoi and Ho Chi Minh City.
Key numbers
Top manufacturing exports (2025)
View chart data as a table
| Category | Export value (US$ billion) |
|---|---|
| Computers & electronics | 107.8 |
| Machinery & equipment | 59.0 |
| Phones & accessories | 56.7 |
| Textiles & garments | 39.6 |
| Footwear | 24.2 |
Where the five largest groups sit in total exports
Share of ~$475B total exports, 2025
| Computers & electronics | 107.8B · 22.7% | |
| Machinery & equipment | 59.0B · 12.4% | |
| Phones & accessories | 56.7B · 11.9% | |
| Textiles & garments | 39.6B · 8.3% | |
| Footwear | 24.2B · 5.1% | |
| All other exports (derived) | 187.7B · 39.5% |
View chart data as a table
| Group | Export value (US$ billion) | Share of total |
|---|---|---|
| Computers & electronics | 107.8 | 22.7% |
| Machinery & equipment | 59.0 | 12.4% |
| Phones & accessories | 56.7 | 11.9% |
| Textiles & garments | 39.6 | 8.3% |
| Footwear | 24.2 | 5.1% |
| All other exports (derived) | 187.7 | 39.5% |
Industrial output (2025)
- IIP +9.2% — the strongest since 2019 (up from +8.2% in 2024), with Q4 running near +9.9%.
- Processing & manufacturing +10.5%, contributing 8.4 percentage points of IIP growth; manufacturing value added rose 9.97%.
- PMI 53.0 in December 2025 (S&P Global) — conditions improved for a sixth straight month and output for an eighth, with business confidence at a 21-month high; ~6.7% industrial growth is forecast for 2026.
- Broad-based gains: motor vehicles led sub-sectors at +22% (auto output +39%), followed by non-metallic minerals, rubber & plastics, and basic metals.
Foreign investment & 'China + 1'
- ~$38.4B registered FDI and a record ~$27.6B disbursed (+9%) in 2025 — processing and manufacturing took 82.8% of disbursed FDI.
- Top destinations: HCMC (~$7.1B), Bac Ninh (~$5.7B), and Hanoi (~$4.4B); top sources in 2025: Singapore, China, Korea, and Japan.
- 'China + 1' — supply-chain diversification out of China — is the core structural driver, drawing electronics, textiles, and higher-value component makers.
- Industrial land demand feeds directly into real estate (industrial belts) and logistics networks.
View chart data as a table
| Destination | Registered FDI (US$ billion) |
|---|---|
| Ho Chi Minh City | 7.1 |
| Bac Ninh | 5.7 |
| Hanoi | 4.4 |
FDI momentum into 2026
The 2025 record has carried into 2026: the Foreign Investment Agency reported disbursement of about $21.07B in January–September 2026 (+12.1% YoY, a five-year high for the period, ~82.6% in processing and manufacturing) and registered FDI of about $50.36B (+76.4%), as of 30 September 2026. Reports differ on how much of the registered total is manufacturing (new projects alone versus new plus adjusted capital), so compare like with like.
| Measure | FY 2025 | Jan–Sep 2026 |
|---|---|---|
| Registered FDI | ~$38.4B | $50.36B (+76.4%) |
| Disbursed FDI | $27.62B (+9%) | $21.07B (+12.1%) |
| Manufacturing share of disbursement | 82.8% | ~82.6% |
Periods differ (twelve months versus nine), so read the columns as trend, not a like-for-like total. Jan–Sep 2026 figures are Foreign Investment Agency estimates reported by Vietnam News, VietnamPlus and VIR in October 2026.
Industrial base & clusters
- Northern electronics cluster — Bac Ninh, Hai Phong, and surrounds host Samsung, Foxconn, LG, and their supplier bases.
- Southern industrial belt — Binh Duong and Dong Nai around HCMC anchor diverse manufacturing.
- Industrial parks are the primary FDI vehicle: zoned sites with tax and infrastructure incentives.
- Trade access: 17 FTAs in force (CPTPP, EVFTA, RCEP; UAE CEPA since Feb 2026) underpin competitiveness and a tenth straight goods surplus (~$20B in 2025).
Why this matters
- Manufacturing drives exports, FDI, and industrial employment — the clearest read on Vietnam's growth model.
- The value chain is climbing from assembly toward higher-value components, a key question for wages, productivity, and margins.
- Factory demand ties manufacturing to industrial property, logistics, and regulation (incentives, labor, trade).
- Concentration in electronics and a few large FDI players is both a strength and a trade-exposure risk worth watching.
Sources
- General Statistics Office / National Statistics Office (GSO/NSO) — 2025 IIP and socio-economic data
- Vietnam Customs — export values by category, 2025
- S&P Global — Vietnam Manufacturing PMI
- Foreign Investment Agency, Ministry of Finance (under the Ministry of Planning and Investment until March 2025) — FDI registered and disbursed
- Foreign Investment Agency estimates for January–September 2026, as reported by Vietnam News, VietnamPlus and VIR (October 2026) — secondary reporting; confirm against the FIA release
Recent manufacturing & trade developments
| Week ending | Mentions |
|---|---|
| 25 Sep | 75 |
| 2 Oct | 95 |
| 9 Oct | 70 |
| 16 Oct | 63 |
| 23 Oct | 49 |
| 30 Oct | 89 |
| 6 Nov | 67 |
| 13 Nov | 67 |
Counted from the daily news pipeline; weeks end 13 Nov. Volume shows how much is being written, not whether it is good or bad news.
Auto-summarized from public news sources. Neutral, factual, not investment advice.
- The Deputy Prime Minister signed Resolution 47/2026/NQ-CP amending Resolution 16/2026/NQ-CP from April 7, 2026, which addresses mechanisms and policies for removing difficulties and obstacles in Build-Transfer (BT) form investment projects. The amendment modifies conditions for transitional BT projects to qualify for policy applications under the resolution. Projects must be reported and consolidated in the national information system on project databases to meet the eligibility criteria.
- Can Tho city held its 2026 annual economic forum on November 12, focusing on private economic development as a driver for sustainable growth. The city recorded 2,979 newly registered businesses in the first eight months of 2026, up 3.08% compared to the same period in 2025, but also saw 1,374 businesses register temporary suspension of operations, a 7% increase. City leaders emphasized that government agencies must strengthen self-supervision and improve execution of public duties to support private sector development.
- As of November 4, all 46 commercial banks in Vietnam have reduced deposit interest rates for terms of 6 months or longer by at least 0.5 percentage points. State-owned commercial banks and 100% foreign-owned banks typically cut rates by 0.5% per annum, while joint-stock commercial banks generally reduced rates by 0.5-0.7% per annum. Average deposit interest rates for new deposits fell approximately 0.4% per annum between mid-October and late October.
- The article discusses challenges Vietnamese citizens face when discovering tax debts at airports before departure. A lawyer proposes notifying citizens via SMS or communication channels about outstanding tax obligations so they can resolve issues before traveling. The lawyer also suggests that the Finance Ministry and Public Security Ministry should collaborate to establish a temporary holding account at border gates to manage such situations.
- The 16th National Assembly completed its interpellation session on November 12 after a full day of proceedings. National Assembly Chairman Trần Thanh Mẫn reported that 65 delegates participated in questioning and 7 in debate, while 43 registered delegates who did not get a turn will submit written questions to be answered by government members. A Vice Prime Minister participated in responding to the interpellations.
- The Finance Minister Ngô Văn Tuấn affirmed that tax officials are responsible and may owe material compensation if they delay processing complete and compliant tax refund applications. However, with the mechanism that provided 0.03% daily interest for delayed tax refund decisions now abolished, enterprises face uncertainty about how to claim their rights. The article discusses the regulatory framework governing tax refund delays and compensation.
Updated November 13, 2026
Frequently Asked Questions
How big is Vietnam's manufacturing sector?
Manufacturing and processing is the primary engine of the economy. In 2025 the sector expanded about 10.5% — its fastest since at least 2019 — and Vietnam's industrial production index (IIP) rose 9.2%, a seven-year high. Manufacturing drove a record export haul of roughly US$475 billion.
What are Vietnam's biggest manufacturing exports?
Computers, electronics, and components led in 2025 at about US$107.8 billion (up 48.4% YoY) — the first Vietnamese export group ever to top US$100 billion, at 22.7% of total exports. Machinery followed at ~$59 billion, phones ~$57 billion, textiles and garments ~$40 billion, and footwear ~$24 billion (Vietnam Customs, preliminary).
Why do companies manufacture in Vietnam?
Vietnam is the leading beneficiary of the 'China + 1' supply-chain diversification: competitive labor costs, a young workforce, 17 free trade agreements in force (including CPTPP, EVFTA and RCEP), political stability, and dense industrial clusters. FDI is largely export-oriented, with processing and manufacturing taking 82.8% of disbursed FDI in 2025.
How much foreign investment goes into Vietnamese manufacturing?
Vietnam registered about US$38.4 billion of FDI in 2025 and disbursed a record ~US$27.6 billion (+9%), 82.8% of it into processing and manufacturing. Top destinations were HCMC, Bac Ninh, and Hanoi; leading source economies in 2025 were Singapore, China, Korea, and Japan.
Share & Cite
Show formats
Vietnam Manufacturing 2026 — Exports, FDI & Industrial Base. Vietnam Market Insights. October 2026. https://vnmarketinsights.com/manufacturing/ "Vietnam Manufacturing 2026 — Exports, FDI & Industrial Base." Vietnam Market Insights, October 2026, https://vnmarketinsights.com/manufacturing/.