Vietnam’s GDP growth surges to 9.95% in third quarter
Vietnam’s economy grew 9.95% year on year in the third quarter of 2026, its fastest pace of the year so far, the National Statistics Office reported on October 3. Growth picked up from 8.15% in the first quarter and 8.81% in the second, bringing expansion for the first nine months to an estimated 9.01%.
The Vietnam Net reported that the figures give the government momentum as it pursues double-digit growth for the full year. Consumer prices are also rising, with average inflation at 4.52% over the nine months and core inflation at 4.26%.
“Vietnam’s economy grew 9.01% in the first nine months of 2026, a very high rate compared with many previous years, providing an important foundation for achieving the highest possible growth under the target that has been set,” said Nguyen Thi Huong, head of the National Statistics Office under the Ministry of Finance, at a press conference releasing the data.
Huong said the economy would face significant difficulties in the final three months of the year, largely because it is highly open and exposed to external developments. She said reaching double-digit growth would require coordinated efforts from the political system, government, businesses and the public, along with support from the international community.
Industry and construction expanded 11.21% in the nine months and accounted for 49.62% of the increase in total value added. Manufacturing grew 11.36% and construction 12.22%. The statistics office attributed the sector’s gains to new large-scale projects coming into operation, recovering export orders and faster public investment. Services rose 8.69% and contributed 45.03% of the increase, while agriculture, forestry and fisheries grew 4.02%.
On the expenditure side, gross capital formation rose 17.88% and final consumption increased 8.51%. Exports of goods and services climbed 21.29%, while imports grew faster at 27.19%.
Consumer prices rose 0.62% in September from August, mainly because domestic fuel prices tracked global energy markets higher. September CPI was 5.08% above its level a year earlier, and core inflation stood at 4.45% year on year.
The gold price index climbed 2.38% month on month in September and averaged 42.67% above year-earlier levels over the nine months. The US dollar price index fell 0.69% in September from the previous month.
Source: Intellinews