HANOI, Oct. 3, 2026 — Vietnam’s economy expanded 9.95% year on year in the third quarter of 2026, marking its fastest quarterly growth this year as strong exports, industrial production and investment helped accelerate economic activity.
The latest figure was higher than the 8.15% growth recorded in the first quarter and the revised 8.81% growth in the second quarter, according to Vietnam’s National Statistics Office. The third-quarter expansion was the fastest since the third quarter of 2022.
For the first nine months of 2026, Vietnam’s gross domestic product grew 9.01% compared with the same period a year earlier.
Industry and construction lead growth
The industrial and construction sector was the strongest contributor to third-quarter growth, expanding 12.50% year on year and accounting for 51.57% of the increase in total economic value added.
The services sector grew 9.54%, contributing 43.29%, while agriculture, forestry and fisheries increased 4.21%, contributing 5.14%.
For the January-September period, industry and construction expanded 11.21%, while services grew 8.69% and agriculture, forestry and fisheries rose 4.02%.
The industrial sector benefited from stronger export orders, the operation of several large-scale projects and faster public investment, according to Vietnamese authorities.
Exports surge in September
Vietnam’s export performance also strengthened sharply toward the end of the third quarter.
Exports in September increased 39.1% year on year to about $59.48 billion, while imports climbed 45.8% to $58.21 billion, producing a monthly trade surplus of approximately $1.27 billion.
However, the country still recorded a $19.42 billion trade deficit during the first nine months of the year. Total exports reached $434.30 billion, up 24.5%, while imports rose 36.7% to $453.72 billion.
The United States remained Vietnam’s largest export market, while China continued to be its largest source of imports.
Foreign investment remains strong
Foreign investment also provided significant support to Vietnam’s economy.
Total registered foreign investment reached approximately $50.36 billion by the end of September, an increase of 76.4% from the same period last year. Realized foreign direct investment stood at around $21.07 billion, up 12.1% and the highest level recorded over the past five years.
Manufacturing and other industrial activities remained important destinations for foreign investment as companies continued to expand production capacity in Vietnam.
Inflation and trade pressures
Despite the strong economic expansion, Vietnam faces pressure from higher prices and rising import costs.
Consumer prices increased 5.08% in September from a year earlier, according to the National Statistics Office. Reuters reported that higher energy and import costs have contributed to inflationary pressures.
Industrial production also remained strong, with the industrial production index rising 14.8% year on year in the third quarter and 12.3% during the first nine months.
Vietnam’s strong third-quarter performance brings the economy closer to the government’s goal of achieving at least 10% growth in 2026. With nine-month growth at 9.01%, however, economic activity would need to remain particularly strong in the final quarter to reach that annual target.
