Vietnam’s economy continued its strong growth momentum in the first nine months of 2026, with GDP expanding by 9.01% year-on-year. Growth accelerated significantly in the third quarter, bringing the country closer to its ambitious double-digit growth target for the year. According to data released by Vietnam’s National Statistics Office under the Ministry of Finance, GDP grew by an estimated 9.95% year-on-year in the third quarter of 2026, accelerating from 8.15% in the first quarter and 8.81% in the second quarter.
As a result, Vietnam’s GDP increased by 9.01% during the first nine months of 2026, maintaining a strong upward trajectory despite continued uncertainty in the global economy.
Source: National Statistics Office, Ministry of Finance.
Industry and construction remain the largest growth drivers
Among the three main economic sectors, industry and construction recorded the strongest growth, expanding by 11.21% year-on-year during the January – September period.
The sector contributed nearly half, 49.62%, of the increase in total value added across the economy. Industrial activity alone grew by 11.02%, supported by the expansion of growth drivers, the operation of several large-scale projects, recovering export orders and faster implementation of public investment.
Manufacturing and processing continued to play a central role, growing by 11.36% and accounting for a substantial share of the country’s economic expansion. The construction sector performed particularly strongly, increasing by 12.22% over the same period.
Services expand 8.69%
Vietnam’s service sector also maintained strong growth during the first nine months of the year. Value added in the sector increased by 8.69% year-on-year, contributing 45.03% to overall economic growth.
Several major service industries recorded notable increases:
- Transportation and warehousing grew by 11.03%;
- Wholesale and retail trade increased by 9.85%;
- Finance, banking and insurance expanded by 9.45%; and
- Accommodation and food services grew by 8.83%.
Strong domestic consumption, tourism, transportation and commercial activity continued to support the expansion of the service economy.
Agriculture maintains stable growth
The agriculture, forestry and fisheries sector grew by 4.02% during the first nine months of 2026 and contributed 5.35% to the increase in total value added.
Agricultural production rose by 3.72%, forestry by 3.99%, while fisheries expanded by 4.99%. Output of rice, fruit, livestock and aquatic products remained positive, supporting both domestic demand and exports.
Investment and trade record strong increases
Source: National Statistics Office, Ministry of Finance.
On the expenditure side of the economy, investment showed particularly strong momentum.
During the first nine months of 2026:
- Final consumption increased by 8.51%;
- Gross capital formation rose by 17.88%;
- Exports of goods and services increased by 21.29%; and
- Imports of goods and services increased by 27.19%.
The figures indicate strong activity across domestic consumption, investment and international trade.
12 provinces and cities achieve double-digit growth
Economic expansion was also reflected at the provincial level, with 12 out of Vietnam’s 34 provinces and centrally governed cities recording GRDP growth of at least 10% during the first nine months of 2026.
Quang Ninh recorded the highest growth rate at 12.54%, followed by:
- Ha Tinh: 12.36%
- Hai Phong: 12.08%
- Bac Ninh: 11.81%
- Ninh Binh: 11.31%
Many of the fastest-growing localities have strong industrial and manufacturing bases and benefited from investment, exports and expanding service sectors.
Strong momentum heading into the final quarter
Vietnam entered the final quarter of 2026 with significantly stronger economic momentum than at the beginning of the year. Quarterly GDP growth accelerated from 8.15% in Q1 to 8.81% in Q2 and 9.95% in Q3, while nine-month growth reached 9.01%, compared with 7.80% during the same period of 2025.
The result represents one of Vietnam’s strongest recent periods of economic expansion and provides an important foundation for the country’s efforts to pursue its ambitious growth objectives for 2026. However, maintaining this pace through the final months of the year will remain critical as Vietnam continues to navigate uncertainty in the global economy, international trade and financial markets.
