Vietnam Q3 GDP Growth Strongest in 3 Years

Vietnam’s economy advanced 9.95% yoy in Q3 2026, accelerating from an upwardly revised 8.81% in Q2 and marking the fastest growth since Q3 2022. All sectors posted solid gains: industry and construction surged 12.50%, contributing 51.57% of total value added. Services rose 9.54%, accounting for 43.29%, while agriculture grew 4.21%, with a 5.14% share. On the expenditure side, final consumption rose 8.96%, while fixed investment surged 21.39%. On the trade front, exports of goods and services climbed 23.27%, while imports rose 28.75%. For the first three quarters, GDP grew 9.01%. Vietnam is targeting economic growth of more than 10% this year, supported by stronger infrastructure spending. Last year, the economy grew 8.02%. On September 23, the Asian Development Bank (ADB) raised its 2026 GDP growth forecast for Vietnam to 7.8% from 7.2%. However, the ADB warned that global uncertainty could increase pressure on exports, investment, and exchange rates.

Vietnam’s economy expanded 8.39% yoy in Q2 2026, quickening from an upwardly revised 7.94% in the previous period and lifting H1 growth to 8.18%. All sectors posted solid gains: industry & construction surged 10.51% (vs 9.01% in Q1), contributing 50.07% of total value added. Services rose 7.87% (vs 8.33%), accounting for 44.28%, while agriculture grew 4.06% (vs 3.68%), with a 5.65% share. On the expenditure side, final consumption grew 8.15%, and fixed investment jumped 15.20%. On the trade front, exports of goods and services climbed 20.18%, with imports outpacing at 26.44%. Hanoi is targeting economic growth of more than 10% this year, supported by stronger infrastructure spending. However, the ambitious goal risks being derailed by fallout from the war in Iran. Meanwhile, annual inflation eased to 4.69% in June from May's 5.6%, moving closer to the government's 4.5% inflation target this year. The World Bank reclassified Vietnam as an upper-middle-income economy, effective July 1.

Vietnam’s GDP expanded 7.83% year-on-year in Q1 2026, slowing from an 8.46% growth rate in Q4 2025, as rising oil imports boosted inflation. Growth was broad-based, with all sectors posting solid gains, including industry and construction (8.92%), services (8.18%), and agriculture (3.58%). On the expenditure side, exports rose 19.85%, while imports surged 24.27%, driven by the Middle East conflict, which pushed up oil prices. Final consumption climbed 8.45% yoy, while fixed investment grew 7.18%. Last year, the country’s GDP advanced by 8.02%, the strongest performance since 2011. Vietnam is targeting annual economic growth of at least 10% through 2030, backed by investments in hundreds of new large-scale projects launched last year, worth an estimated USD 200 billion. Earlier, Kim Eng Tan, managing director for Asia sovereign ratings at S&P Global Ratings, said that Vietnam is expected to grow steadily over the next three years, with an annual growth forecast of 6.7%.