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Vietnam’s economy grew at a solid pace in the first quarter of 2026 despite a global environment marked by difficulties and challenges, according to the General Statistics Office. GDP in Q1 2026 rose 7.83% year-on-year, up from 7.07% in Q1 2025.
The agriculture, forestry and fisheries sector increased 3.58%, contributing 5.60 percentage points to total value added. The industrial and construction sector grew 8.92%, contributing 44.08%. The services sector rose 8.18%, contributing 50.32%.
Industrial production showed positive momentum as factories fully restored capacity after the Lunar New Year to meet production demand. The Industrial Production Index (IIP) for Q1 2026 is estimated to have increased 9.0% year-on-year, the highest first-quarter rise in seven years.
Trade and services activities continued to expand, reflecting a recovery in domestic demand and improvements in activity levels. In Q1 2026, total retail sales of goods and consumer services revenue were estimated at 1,902.8 trillion VND, up 10.9% year-on-year.
Total import-export of goods in Q1 2026 was estimated at 249.50 billion USD, up 23.0% year-on-year. Exports rose 19.1%, while imports increased 27.0%.
Tourism recovery supported growth in the trade and services sector. International visitors to Vietnam reached over 6.76 million in Q1 2026, up 12.4% year-on-year and the highest first-quarter arrival figure on record. Travel services revenue was estimated at 22.9 trillion VND in Q1 2026, up 12.5% year-on-year.
The Statistical Office said the political and social environment remains stable, visa policies are increasingly liberalized, promotional activities have become more professional, and improvements in product diversity, market orientation and service quality are helping attract international visitors.
In March 2026, international arrivals were nearly 2.1 million, up 1.3% year-on-year. In Q1, air arrivals accounted for 5.56 million arrivals (82.3% of the total), up 7.0% year-on-year; by road arrivals were 1.05 million (15.5%), up 53.1%; and by sea arrivals were 148.2 thousand (2.2%), up 11.4%.
In Q1, the largest international markets for visitors to Vietnam included China (1.4 million) and Korea (1.3 million). Other major markets were Russia (367,168), Taiwan (China) (316,281), the United States (302,401), Japan (245,039), India (242,656), Australia (174,177), Cambodia (330,102), the Philippines (162,971) and Malaysia (171,373).
Arrivals from Russia grew the fastest in Q1, up 263.4% year-on-year. Arrivals from other markets also rose strongly, including Indonesia (190%), India (164%) and the Philippines (163.9%).
Foreign direct investment remained robust. As of March 31, 2026, Vietnam attracted 904 new FDI projects with registered capital of 10.23 billion USD, up 6.4% in the number of projects and 2.4 times in capital compared with the same period in 2025 (850 projects and 4.33 billion USD). FDI disbursement reached 5.41 billion USD, up 9.1% year-on-year.
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