Vietnam’s economy expanded 7.83% year-on-year in the first quarter of 2026, the strongest growth rate since 2011, the General Statistics Office (GSO) announced April 4.
Key figures at a glance
Manufacturing led the charge, growing 9.73%, while the services sector expanded 8.18%, buoyed by strong Lunar New Year consumer spending and a surge in foreign tourist arrivals. Agriculture, forestry and fisheries grew a steady 3.36%.
Trade hits $249.5 billion but deficit returns
Total trade reached $249.5 billion in Q1, up 23% from a year earlier. Exports rose 19.1% while imports climbed faster at 27%, pushing the trade balance into a deficit of $3.64 billion after a surplus in the same period last year.
Inflation ticks up
The consumer price index rose 3.51% year-on-year in the first three months of 2026, with March recording the highest monthly CPI in five years, raising concerns ahead of planned price adjustments for state-managed goods including electricity, healthcare and education.
Business activity mixed
Some 96,000 businesses were newly registered or resumed operations in Q1, up 31.7% year-on-year. However, an average of 30,600 firms exited the market each month during the same period.
Outlook: double-digit target under pressure
GSO Director General Nguyen Thi Huong described the results as “positive” given global uncertainty, but warned that Vietnam’s open economy remains exposed to external shocks. Hitting the government’s double-digit growth target for the full year will require sustained macroeconomic stability, flexible fuel price management and targeted support for sectors vulnerable to rising input costs, she said.
