Vietnam’s economy grew 9.95% year-on-year in the third quarter, its fastest quarterly expansion in four years, driven by strong exports and increased infrastructure investment, government data showed.
The growth accelerated from a revised 8.81% expansion in the second quarter, although it remained below the government’s full-year target of more than 10%. The latest figures also put nine-month GDP growth at 9.01%, according to Vietnam’s National Statistics Office.
Exports provided a major boost, rising 39.1% year-on-year in September to US$59.48 billion. Imports increased more sharply, climbing 45.8% to US$58.21 billion, leaving the country with a monthly trade surplus of US$1.27 billion.
Despite the strong export performance, Vietnam recorded a record trade deficit of US$19.42 billion for the first nine months. Exports rose 24.5% to US$434.30 billion, while imports increased 36.7% to US$453.72 billion, with higher energy costs contributing to the widening gap.
Investment also strengthened, with total investment rising 16.7% in the first nine months. Foreign investment inflows increased 12.1% year-on-year to US$21.1 billion, while industrial production rose 16.7% in September.
However, stronger economic activity has come alongside rising price pressures. Consumer prices increased 5.08% in September from a year earlier, compared with 4.89% in August.
Reuters reported that the Asian Development Bank has raised its 2026 growth forecast for Vietnam to 7.8% from 7.2%, while warning that weaker global demand, higher energy prices and tighter financial conditions could weigh on longer-term growth. Analysts have also highlighted inflationary pressures and potential electricity shortages as risks to the economy.
