Industrial production index increases in 58/63 localities
At the press conference in the first quarter of 2025 on 4.4, organized by the Ministry of Industry and Trade, representatives of the Ministry of Industry and Trade in the first 2 months of 2025, the industrial production index (IIP) was estimated to increase by 7.2% over the same period last year (in the same period, only 6.5% in 2024).
Of which, the manufacturing and processing industry increased by 9.3% (the same period in 2024 increased by only 6.6%). The industrial production index increased in 58/63 localities across the country.
Although there are no official figures for March and the first quarter of 2025, it is forecasted that industrial production (IIP) in the first quarter of 2025 will continue to improve and maintain growth momentum based on the growth momentum that has been there since the first 2 months of this year.
According to the latest report from S&P Global, Vietnam's manufacturing industry recorded growth again in March when both output and total new order quantity increased, showing that the health of Vietnam's manufacturing industry by the end of the first quarter of 2025 had improved.
Accordingly, the Vietnam manufacturing Industry Purchasing Managers' Index (PMI) in March reached above the threshold of 50 points, for the first time in the past 4 months (reaching 50.5 points, a slight increase compared to 49.2 points in February).
Total import-export turnover is estimated at 202.5 billion USD
Along with the improvement in industrial production activities, our country's import and export activities will continue to be boosted in March 2025, with import and export turnover estimated at 75.38 billion USD, up 16.8% over the previous month and up 15.3% over March 2024.
Export in March of March 2025 was estimated at US $ 38.5 billion, up 23.8% over the previous month and up 14.5% over the same period in 2024. This is also the month with the highest turnover from the beginning of the year, showing that export activities are accelerating after the beginning slower than expected in the first two months of the year. The import turnover of goods in March was estimated at US $ 36.87 billion, up 12.9% compared to the previous month and up 19% compared to March of March 2024.
In the first quarter of 2025, total import-export turnover is estimated at 202.5 billion USD, an increase of 13.7% over the same period in 2024. Of which, export turnover is estimated at 102.8 billion USD, an estimated increase of 10.6% over the same period last year. Import turnover is estimated at 99.68 billion USD, an estimated increase of 17% over the same period last year.
This shows that domestic production activities are improving, with the demand for raw materials, components, and machinery for production and export increasing sharply. The trade balance in the first 3 months of 2025 continues to maintain a surplus state, with an estimated trade surplus of 3.15 billion USD.
Regarding the structure of export markets, in the first quarter of 2025, our country's export turnover to most major export markets is expected to increase (except for the Chinese market).
In particular, the US is still the largest export market, with an estimated $ 30.5 billion turnover, up 18.3% over the same period in 2024. The EU is the second largest export market with an estimated turnover of US $ 13.7 billion, up 12.5% over the same period last year. China is the third largest export market (estimated at 13 billion USD) but the export turnover decreased slightly compared to the same period last year (down 0.2%).
In general, Vietnam's exports are still maintaining a positive trend with the next month's growth than the previous month. However, the estimated growth rate of 10.6% in the first quarter of 2025 was still lower than the growth target of 12% for the whole year 2025 but higher than the scenario of the construction industry and trade industry corresponding to economic growth 8% or more (the first quarter of the first quarter of 2025 increased by 7.9%).
