Vietnam Economy Expands Nearly 10% as Exports and Investment Drive Growth
HANOI, Vietnam, October 3, 2026, ZEX PR WIRE — Vietnam’s economy expanded 9.95% year over year in the third quarter, its fastest quarterly growth since the COVID 19 pandemic, as strong exports and infrastructure investment accelerated economic activity and strengthened the country’s position as a major manufacturing hub in Asia.
The third quarter expansion accelerated from a revised 8.81% growth rate in the second quarter, according to government data. The performance was supported by a sharp increase in exports, stronger industrial production and continued investment in infrastructure.
Exports provide a major growth boost
Vietnam’s exports rose 39.1% year over year in September to $59.48 billion, while imports increased 45.8% to $58.21 billion. The country recorded a monthly trade surplus of $1.27 billion.
However, the stronger import growth has created pressure on Vietnam’s overall trade balance. During the first nine months of 2026, exports increased 24.5% to $434.30 billion, while imports climbed 36.7% to $453.72 billion, producing a record $19.42 billion trade deficit for the period.
Higher energy costs have contributed to the increase in import values. Crude oil import volumes declined during the period, but their value increased, while refined fuel imports rose sharply in both volume and value.
Industrial activity and investment remain strong
Industrial production increased 16.7% year over year in September, while total investment during the first nine months rose 16.7%. Foreign investment inflows also increased 12.1% to $21.1 billion.
The combination of manufacturing activity, foreign investment and infrastructure spending remains important for investors tracking Vietnam’s role in regional supply chains. The country has attracted production from multinational companies seeking to diversify manufacturing operations across Asia.
The Asian Development Bank recently raised its 2026 Vietnam growth forecast to 7.8%, citing manufacturing expansion, domestic consumption and foreign direct investment as key drivers. It also warned that weaker global demand, higher energy prices and tighter financial conditions could create pressure on growth and inflation.
For markets, the latest data highlight strong near term economic momentum, but investors will continue watching inflation, energy costs and the trade balance to determine whether Vietnam can sustain its rapid expansion through the remainder of 2026.
