Vietnam's Q1 2026 GDP rises 7.83% year over year

GDP in Q1 2026 is estimated to have grown 7.83% year on year, according to a report from the General Statistics Office released recently. In Q1 2025, GDP growth was 7.07%.

Sector performance and contributions

In Q1 2026, Agriculture, Forestry and Fisheries grew by 3.58%, contributing 5.60 percentage points to total value added growth. The Industry and Construction sector rose by 8.92%, contributing 44.08%. Services expanded by 8.18%, contributing 50.32%.

Agriculture, Forestry and Fisheries

Agriculture, Forestry and Fisheries maintained stable growth, supported by strong perennial crop output, continued recovery in pig farming, and higher aquaculture output attributed to the application of science and technology.

• Agriculture value added grew 3.36% year on year, contributing 4.01% to total value added growth.
• Forestry rose 3.22%, contributing 0.21%.
• Fisheries increased 4.51%, contributing 1.38%.

Industry and Construction

Industrial production remained in positive growth, while construction activity recovered as public investment disbursement accelerated.

• The value added of the entire industrial sector rose 9.01% year on year (Q1 2025: 7.63%), contributing 38.34% to total GDP growth.
• Processing and manufacturing increased 9.73% (Q1 2025: 9.36%), contributing 32.52%.
• Electricity production and distribution rose 6.54%, contributing 3.78%.
• Water supply, management and wastewater treatment increased 8.58%, contributing 0.63%.
• Mining grew 5.42%, contributing 1.41%.
• Construction rose 8.36%, contributing 5.74%.

Services

Services growth was supported by higher domestic consumption during the Tet holiday and an increase in international visitors to Vietnam.

In Q1 2026, selected service industries contributed to total value added growth as follows:

• Wholesale and retail trade: up 9.62%, contributing 14.52%.
• Transportation and storage: up 8.95%, contributing 6.95%.
• Financial, banking and insurance: up 7.70%, contributing 5.09%.
• Information and communications: up 7.65%, contributing 4.21%.
• Accommodation and food services: up 7.49%, contributing 2.89%.

Government-budget-related services also rose notably:

• Administrative, political, social organizations and government management and public security: up 9.62%, contributing 2.53%.
• Education and training: up 8.25%, contributing 4.05%.
• Health and social assistance: up 6.90%, contributing 2.18%.

Economic structure and GDP use

In Q1 2026, the economy’s structure was as follows: Agriculture, Forestry and Fisheries accounted for 10.89%; Industry and Construction for 37.15%; Services for 43.45%; and product taxes minus subsidies for 8.51%.

Regarding GDP use in Q1 2026, final consumption expenditure rose 8.45% year on year, gross capital formation increased 7.18%, exports of goods and services grew 19.85%, and imports of goods and services rose 24.27%.