Nine-month GDP expands 9.01%

At a press conference on Oct. 3 to release socioeconomic data for the third quarter and first nine months of 2026, Nguyen Thi Huong, head of the National Statistics Office under the Ministry of Finance, said the domestic economy had maintained its growth momentum and delivered positive results.

Gross domestic product (GDP) was estimated to have grown 9.95% year on year in the third quarter, accelerating from 8.15% in the first quarter and 8.81% in the second.

GDP in the first nine months of 2026 rose an estimated 9.01% from a year earlier.

Agriculture, forestry and fisheries grew 4.02%, contributing 5.35% of the increase in total value added across the economy. Industry and construction expanded 11.21%, contributing 49.62%, while services grew 8.69% and contributed 45.03%.

Agriculture, forestry and fisheries maintained relatively strong growth during the nine-month period. Productivity and output of rice, fruit, livestock and fisheries all increased, meeting domestic and export demand.

Within the sector, agriculture grew 3.72%, forestry 3.99% and fisheries 4.99%.

Industry and construction maintained positive momentum as several large-scale projects began operations, export orders recovered and public investment accelerated.

Industrial value added rose 11.02%. Manufacturing, which remained the main driver of industrial growth, expanded 11.36%, while construction grew 12.22%.

The service sector also maintained solid growth, supported by improvements in trade, transport, tourism and consumer services. Its value added increased 8.69%.

Transport and warehousing grew 11.03%, wholesale and retail trade 9.85%, finance, banking and insurance 9.45%, and accommodation and food services 8.83%.

Services accounted for the largest share of the economy at 42.97%, followed by industry and construction at 38.35%, and agriculture, forestry and fisheries at 10.65%.

By GDP expenditure, final consumption increased 8.51% and gross capital formation rose 17.88%. Exports of goods and services grew 21.29%, while imports increased 27.19% from the same period in 2025.

"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," Huong said.

However, she warned that Vietnam's economy would continue to face significant difficulties and challenges in the final three months of the year, particularly because of its high degree of openness and exposure to external developments.

Achieving double-digit full-year growth would require coordinated efforts from the political system, government, businesses and people, together with support from the international community, she said.

Authorities and localities need to proactively update their assessments and forecasts and respond flexibly, balancing growth with macroeconomic stability, inflation control and social welfare.

Key priorities include effective coordination of fiscal and monetary policies, close monitoring of international developments, support for industrial and agricultural production and exports, and promotion of strategic technology sectors.

Vietnam also needs to accelerate public investment disbursement, selectively attract investment capital, develop infrastructure, advance digital and green transformation, and improve the competitiveness of domestic businesses.

Further measures should stimulate consumer demand and develop e-commerce, logistics, tourism and other service industries to generate additional growth momentum in the final months of the year.

Nine-month CPI rises 4.52%

According to the National Statistics Office, Vietnam's consumer price index (CPI) rose 0.62% in September from the previous month, mainly because domestic fuel prices increased in line with global energy prices.

September CPI was 4.2% higher than in December 2025 and 5.08% above the level recorded a year earlier. Average CPI in the third quarter rose 4.8% year on year.

For the first nine months of 2026, average CPI increased 4.52% from the same period last year.

Food and catering services, housing, electricity, water and fuel, as well as transport, were among the main contributors to the increase.

Core inflation rose 0.11% month on month and 4.45% year on year in September. Average core inflation increased 4.26% in the first nine months, below the headline CPI increase.

The statistics office attributed the difference mainly to fluctuations in the prices of gasoline, gas, food, fresh produce and medical services, which are excluded from the calculation of core inflation.

Domestic gold prices continued to move in line with the global market. The gold price index rose 2.38% month on month in September and was up an average 42.67% year on year in the first nine months of 2026.

Meanwhile, the US dollar price index fell 0.69% in September from the previous month. On average, it increased 1.01% year on year during the first nine months.

Nguyen Le