Vietnam Posts Robust 7.83% Economic Growth in Q1 2026 Amid Global Uncertainties
Hanoi, The Gulf Observer: Vietnam recorded strong economic growth of 7.83 percent in the first quarter of 2026, up from 7.07 percent in the same period last year, driven by solid domestic demand, a surge in international tourism, and resilient manufacturing performance despite growing global uncertainties.
Addressing a press conference in Hanoi on April 4, Director of the National Statistics Office Nguyễn Thị Hương said the encouraging start to the year provides a firm foundation for achieving the country’s full-year growth targets, even as external risks—including tensions in the Middle East—persist.
Economic expansion was broad-based across key sectors, with services emerging as the primary growth driver. The sector expanded by 8.18 percent, contributing over half (50.32 percent) of overall growth. Increased spending during the Lunar New Year and a notable rebound in foreign tourism boosted wholesale and retail trade (9.62 percent), transport and warehousing (8.95 percent), and financial and information services.
The industry and construction sector grew by 8.92 percent, accounting for 44.08 percent of total growth. Within this, processing and manufacturing remained the backbone of industrial activity, recording a strong 9.73 percent increase. Construction activity rose by 8.36 percent, supported by faster public investment disbursement, though it continued to underperform relative to its strategic importance for 2026 targets.
Meanwhile, agriculture, forestry, and fisheries registered steady growth of 3.58 percent, with aquaculture benefiting from increased adoption of advanced technologies.
In terms of economic composition, services accounted for 43.45 percent of GDP during the quarter, followed by industry and construction at 37.15 percent, and agriculture-related sectors at 10.89 percent. Final consumption rose by 8.45 percent, while asset accumulation increased by 7.18 percent, reflecting sustained domestic demand.
Foreign trade activity also surged, with exports of goods and services rising by 19.85 percent and imports climbing by 24.27 percent, indicating stronger demand for raw materials to support a new production cycle.
Nguyễn Thị Hương attributed the positive performance to effective policy management as well as the resilience and adaptability of Vietnam’s economy and business sector. However, she cautioned that growth pressures could intensify in the second quarter as Middle East tensions push up oil prices and input costs, posing risks to supply chains and production.
The National Statistics Office urged both the government and enterprises to adopt timely and effective measures to mitigate external shocks and sustain economic momentum in the months ahead.
