Hà Nội’s GRDP up 7.87% in Q1

Hà Nội’s GRDP up 7.87% in Q1

Industrial production maintained positive momentum from the start of the year, with enterprises resuming operations quickly after the Lunar New Year (Tết) holiday to fulfil domestic and export orders.

The city's industry and construction sector rose by 7.55 per cent, contributing 1.33 percentage points in Q1. — Photo VGP

Hà Nội’s gross regional domestic product (GRDP) in the first quarter of 2026 is estimated to have grown by 7.87 per cent year-on-year, one of the highest rates in recent years, according to the municipal Statistics Office.

The agro-forestry-fishery sector expanded by 3.73 per cent in the reviewed period, contributing 0.09 percentage points to overall growth.

The industry and construction sector rose by 7.55 per cent, contributing 1.33 percentage points. Industrial production maintained positive momentum from the start of the year, with enterprises resuming operations quickly after the Lunar New Year (Tết) holiday to fulfil domestic and export orders.

The industrial sector’s added value increased by 7.52 per cent, contributing 0.97 percentage points to GRDP growth. Of this, manufacturing and processing grew by 7.08 per cent; electricity production and distribution surged by 15.85 per cent; and water supply, waste and wastewater treatment rose by 7.98 per cent.

Meanwhile, the construction sector expanded by 7.62 per cent year-on-year, contributing 0.36 percentage points. The city has accelerated the implementation of its 2026 public investment plan, focusing on key infrastructure and transport projects to drive growth. Public investment disbursement and site clearance have helped attract private investment along major transport corridors, forming an important short-term growth driver.

As of March 31, development investment expenditure had reached about VNĐ24 trillion (US$911 million), equivalent to 19.07 per cent of the annual plan, triple the figure recorded in the same period last year.

The service sector posted strong growth of 8.21 per cent, contributing 5.74 percentage points, the largest share to overall expansion. Authorities and businesses have stepped up measures to stimulate consumption, while retail systems and e-commerce platforms launched promotions and incentives to boost demand.

Taxes less subsidies on products increased by 7.12 per cent, contributing 0.71 percentage points.

In Q1, the GRDP structure saw agriculture, forestry and fisheries accounting for 2.16 per cent; industry and construction 17.77 per cent; services 70.07 per cent; and taxes less subsidies on products 10 per cent. The respective figures for the same period last year were 2.05 per cent, 17.83 per cent, 69.99 per cent and 10.13 per cent. 

Bizhub