Hanoi's GRDP grows 7.87% in Q1 2026

Hanoi reported positive economic growth in the first quarter of 2026, with gross regional domestic product (GRDP) rising 7.87% year on year—the highest pace in many years. The city’s performance came despite global economic volatility affecting domestic production, supported by timely measures to promote development.

GRDP growth and sector contributions

In Q1 2026, Hanoi’s GRDP grew 7.87% year on year. By sector, the agriculture, forestry and fishery segment was estimated to increase by 3.73%, contributing 0.09 percentage points to total GRDP growth.

The industrial and construction sector rose 7.55%, contributing 1.33 percentage points. Within this, construction value added grew 7.62% year on year, contributing 0.36 percentage points.

The services sector expanded 8.21%, contributing 5.74 percentage points to GRDP growth. Product taxes minus subsidies increased 7.12%, contributing 0.71 percentage points.

State budget revenue and public investment

Hanoi’s state budget revenue in Q1 2026 is estimated at 255 trillion VND, equivalent to 39.2% of the year’s estimate and up 1.8% compared with the same period in 2025.

Investment realized from the state budget under local management in March 2026 was estimated at 7.796 trillion VND, up 37.0% from the previous month and up 51.6% year on year. For Q1 2026, such investment reached 20.9 trillion VND, equal to 16.6% of the annual plan and up 47.4% year on year.

Industrial production and trade

The Industrial Production Index (IIP) for Hanoi in March 2026 is estimated to rise 18% month on month and 8.2% year on year. For the first quarter of 2026, Hanoi’s IIP increased 8.5%.

On trade, the total import-export value of goods in Q1 2026 is estimated at 16.522 billion USD, up 10.4% year on year. Exports were 4.185 billion USD, down 8.6%, while imports were 12.337 billion USD, up 18.8%.

Retail sales and inflation

Total retail sales of goods and consumer services in March 2026 were estimated at 82.5 trillion VND, up 9.7% year on year. Retail sales accounted for 52.5 trillion VND (up 9.7%), accommodation and food service revenue reached 11.4 trillion VND (up 11.3%), travel and tourism revenue was 2.730 trillion VND (up 3.8%), and other services revenue totaled 15.9 trillion VND (up 10.0%).

For Q1 2026, total retail sales and consumer service revenue reached 252.0 trillion VND, up 11.2% year on year.

Consumer price index (CPI) in March 2026 increased 0.74% month on month, up 2.09% from December 2025, and up 5.04% year on year. The CPI average for Q1 2026 rose 4.29% compared with the average for the same period in 2025.

FDI attraction and policy measures

In March 2026, Hanoi attracted 146.9 million USD of foreign direct investment (FDI). This included 44 newly registered projects with total registered investment of 12.8 million USD, 9 projects with adjusted-down registered investment totaling 9.7 million USD, and 30 foreign investors contributing capital through share purchases totaling 124.4 million USD.

Overall, Hanoi attracted 478.9 million USD of FDI in Q1 2026. The figure includes 145 new registered projects with total investment of 68.8 million USD, 34 projects increasing investment by 257.2 million USD, and 97 foreign investors contributing capital through share purchases of 152.9 million USD.

Hanoi has promoted comprehensive digital transformation, including digitizing 100% of the investment licensing process—from intake to appraisal, approval and tracking progress. The city has also reviewed and removed bottlenecks in mechanisms, policies and infrastructure to create a favorable, stable and highly competitive investment environment.

As a result, Hanoi is gradually increasing its appeal to FDI, particularly large-scale projects using advanced technology, with environmentally friendly features and spillover effects that support a shift in the economic structure toward modernization and sustainability.