HANOI — Vietnam’s economy grew 9.95% year-on-year in the third quarter of 2026, marking a sharp acceleration from the 8.81% growth recorded in the second quarter.
The strong performance brought Vietnam’s cumulative economic growth for the first nine months of 2026 to 9.01%. Growth stood at 8.15% in the first quarter before accelerating to 8.81% in the second quarter.
The third-quarter expansion was primarily supported by the industry and construction sector, which grew 12.50%, followed by the services sector at 9.54%. Meanwhile, agriculture, forestry and fisheries grew 4.21%.
Vietnam’s industrial sector also continued to strengthen. The country’s industrial production index (IIP) was estimated to have grown 14.8% year-on-year in the third quarter. During the first nine months, industrial production increased 12.3%, with manufacturing and processing industries growing 12.9%.
Trade also contributed significantly to economic growth. Vietnam’s goods exports reached US$59.48 billion in September, up 39.1% year-on-year, while imports rose 45.8% to US$58.21 billion. The country therefore recorded a monthly trade surplus of US$1.27 billion.
However, Vietnam still recorded a cumulative goods trade deficit of US$19.42 billion during January-September 2026. Total exports reached US$434.30 billion, while imports stood at US$453.72 billion.
Foreign investment also continued to increase. By the end of September 2026, registered foreign investment reached US$50.36 billion, an increase of 76.4% from the same period last year. Realized foreign direct investment (FDI) reached US$21.07 billion, up 12.1%.
Despite the strong economic expansion, Vietnam continues to face several challenges. Annual inflation reached 5.08% in September, while imports growing faster than exports contributed to the cumulative trade deficit. Global demand uncertainty and price pressures also remain factors to watch.
With the economy expanding 9.01% during the first nine months of 2026, Vietnam is moving closer to the government’s target of achieving double-digit economic growth for the year.
