Việt Nam’s economy jumps by impressive 7.83% in Q1 2026

Việt Nam’s economy jumps by impressive 7.83% in Q1 2026

The solid start to the year provides a foundation to achieve full-year growth target even as global uncertainties loom, including the Middle East tension.

Industry and construction grew 8.92 per cent in Q1 of 2026, contributing 44.08 per cent to overall expansion. — VNA/VNS Photo

Việt Nam’s economy expanded 7.83 per cent in the first quarter of 2026, accelerating from 7.07 per cent a year earlier, as strong consumer demand, rising inbound tourism and resilient manufacturing underpinned growth despite mounting global uncertainties, Director of the National Statistics Office (NSO) Nguyễn Thị Hương told a press conference in Hà Nội on April 4.

Hương said the solid start to the year provides a foundation to achieve full-year growth target even as global uncertainties loom, including the Middle East tension.

Growth was broad-based across all major sectors, with services leading the charge. The sector rose 8.18 per cent and accounted for 50.32 per cent of overall growth, supported by Lunar New Year spending and a sharp rebound in foreign visitors that lifted wholesale and retail (up 9.62 per cent), transport and warehousing (8.95 per cent), and financial and information services.

Industry and construction grew 8.92 per cent, contributing 44.08 per cent to overall expansion, with processing and manufacturing continuing to act as the main engine after posting 9.73 per cent growth. Construction gained 8.36 per cent on faster public investment disbursement though it still underperformed relative to its critical role in the 2026 target.

Agriculture, forestry and fisheries grew a steady 3.58 per cent, with aquaculture output climbing thanks to the wider use of advanced technologies.

Services made up 43.45 per cent of the economy in the quarter, followed by industry and construction at 37.15 per cent and agro-forestry-fisheries at 10.89 per cent. Final consumption jumped 8.45 per cent while asset accumulation rose 7.18 per cent, the NSO said.

Foreign trade activity also picked up sharply, with exports of goods and services climbing 19.85 per cent and imports rising 24.27 per cent, reflecting stronger demand for raw materials to support a new production cycle.

These positive figures reflect not only timely policy governance but also the resilience and adaptability of Việt Nam’s economy and businesses, Hương said.

Still, the NSO warned that growth pressures could intensify in the second quarter as the Middle East tensions drive up oil prices and input costs, increasing risks to supply chains and production. The Government and enterprises need timely and effective measures to cushion the impact of global headwinds, it said. 

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