Vietnam’s PMI Novemeber 2025

According to the latest report by S&P Global Market Intelligence, Vietnam’s manufacturing Purchasing Manager’s Index (PMI) reached 53.8 in November 2025, above the 50-point threshold that separates growth from contraction.

The index indicated a continued improvement in Vietnam’s manufacturing sector, marking the strongest expansion in over a year.

New orders increased for the third consecutive month, supporting production growth, although the pace was slightly slower than in October. Export orders rose sharply to a 15-month high, driven by stronger demand from mainland China and India, according to S&P Global.

Employment in the sector grew for the second month, marking the fastest rise in nearly 18 months, with most new hires employed full-time. To meet production needs, firms drew down finished-goods inventories, which fell at a more pronounced rate. Meanwhile, input inventories rose slightly as purchasing activity increased for the fifth consecutive month and reached a four-month high.

Vietnam’s manufacturing sector developments coincide with a broader economic expansion, with GDP growth reaching 8.2 per cent in the third quarter of 2025. This growth outpaced many peers in Southeast Asia and was supported by strong industrial output and foreign direct investment.

The Association of Southeast Asian Nations (ASEAN) is a political and economic union of ten countries. It has a population of 667 million, covers 4.5 million km², and is currently the third-largest economy in Asia-Pacific and the fifth-largest in the world. The ASEAN Economic Community (AEC) had an estimated combined GDP of USD 4.2 trillion in 2024.