INFRAME ASIA, BUSINESS – Vietnam’s economy expanded 9.95% year on year in the third quarter of 2026, marking its fastest quarterly growth since the COVID-19 pandemic. The figures were released on October 3, 2026, Vietnam Standard Time (ICT, UTC+7), by the country’s National Statistics Office. Growth accelerated from a revised 8.81% in the second quarter.
The July-to-September expansion was supported by strong exports and increased investment in infrastructure. The result also kept Vietnam on a path toward its ambitious target of achieving annual economic growth of at least 10% in 2026. However, the country still faces higher import costs and growing inflationary pressure.
Vietnam’s economy grew 9.01% during the first nine months of 2026 compared with the same period a year earlier. Growth accelerated in each quarter, with the economy expanding 8.15% in the first quarter and 8.81% in the second. The latest figures showed continued momentum across manufacturing, construction and services.
Industry and construction were among the strongest contributors to the third-quarter expansion. The sector grew 12.50% from a year earlier during the July-September period. Manufacturing and processing, electricity production and construction all recorded double-digit growth.
Services also expanded strongly during the quarter as domestic consumption and tourism supported economic activity. The sector grew around 9.5% year on year, according to government data. Agriculture, forestry and fisheries recorded slower but positive growth compared with industry and services.
Exports provided another major boost to the economy. Goods exports rose 39.1% year on year in September to $59.48 billion, while imports increased 45.8% to $58.21 billion. That produced a monthly trade surplus of about $1.27 billion.
Despite the September surplus, Vietnam recorded a record trade deficit of $19.42 billion during the first nine months of 2026. Exports for the period reached $434.30 billion, up 24.5%, while imports climbed 36.7% to $453.72 billion. Higher energy costs contributed to the increase in the value of imports.
Energy imports have become a particular pressure on Vietnam’s trade balance. Crude oil imports fell 13.5% in volume during the first nine months, but their value increased 14.4%. Imports of refined fuels rose 11.5% in volume while their value jumped 79.3%.
Investment also strengthened during the first nine months of the year. Total investment increased 16.7% from a year earlier as the government accelerated infrastructure spending. Foreign direct investment inflows reached about $21.1 billion, an increase of 12.1%.
Inflation remained another concern as the economy expanded rapidly. Consumer prices rose 5.08% year on year in September 2026, while industrial production increased 16.7%. Economists have warned that stronger economic activity, higher energy costs and potential electricity shortages could create additional pressure on the economy.
The Asian Development Bank raised its 2026 growth forecast for Vietnam to 7.8%, citing continued strength in manufacturing, domestic consumption and foreign investment. However, it also warned that weaker global demand and external uncertainty could weigh on the economy. Vietnam’s latest quarterly figures were released on October 3, 2026, Vietnam Standard Time (ICT, UTC+7), as policymakers continued to pursue the government’s double-digit annual growth target.
