Vietnam’s economy jumps by impressive 7.83% in Q1

Policies in Action

Vietnam’s economy jumps by impressive 7.83% in Q1
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% in Q1 of 2026, contributing 44.08% to overall expansion. (Photo: VNA) Zalo

Hanoi (VNA) – Vietnam’s economy expanded 7.83% in the first quarter of 2026, accelerating from 7.07% 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) Nguyen Thi Huong told a press conference in Hanoi on April 4.

Huong 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% and accounted for 50.32% of overall growth, supported by Lunar New Year spending and a sharp rebound in foreign visitors that lifted wholesale and retail (up 9.62%), transport and warehousing (8.95%), and financial and information services.

Industry and construction grew 8.92%, contributing 44.08% to overall expansion, with processing and manufacturing continuing to act as the main engine after posting 9.73% growth. Construction gained 8.36% 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%, with aquaculture output climbing thanks to the wider use of advanced technologies.

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

Foreign trade activity also picked up sharply, with exports of goods and services climbing 19.85% and imports rising 24.27%, 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 Vietnam’s economy and businesses, Huong 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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