The industrial machinery value added in Viet Nam showed significant growth between 2013 and 2023. The sector saw a notable increase, peaking in 2014 with a 44.58% year-on-year rise. Although there were fluctuations, including a period of decline in 2019, the industry recovered, achieving a 2.59% year-on-year increase in 2023 and a CAGR of 1.36% over the last 5 years. The forecast predicts continued growth, with a CAGR of 1.87% and a 9.69% increase by 2028.
Future trends to watch for include:
• Technological advancements enhancing machinery efficiency.
• Increased foreign investments and partnerships.
• Expansion in domestic infrastructure projects.
• Potential impacts of global economic fluctuations and trade policies.
