Vietnam GDP grows 7.83% in Q1, driven by industry and services
VOV.VN - Vietnam’s economy expanded by an estimated 7.83% in the first quarter of 2026 compared to a year earlier, driven mainly by strong performance in industry, construction and services, according to the National Statistics Office.
Data released on April 4 showed growth was broadly balanced across all three major sectors of the economy.
The agro-forestry-fishery sector grew by 3.58%, contributing 5.60% to overall GDP growth. The industry and construction sector rose by 8.92%, accounting for 44.08%, while services expanded by 8.18%, contributing the largest share at 50.32%.
Industrial production maintained a positive trajectory, supported by a recovery in construction activity amid accelerated public investment disbursement.
Manufacturing and processing continued to be the main driver, posting a robust growth rate of 9.73%.
Meanwhile, agriculture remained stable, with livestock production recovering and aquaculture output increasing thanks to the application of advanced technologies.
The services sector recorded solid growth, supported by strong domestic consumption during the Lunar New Year holiday and a rebound in international tourism.
Key service industries saw notable increases, including wholesale and retail trade (up 9.62%), transportation and storage (8.95%), and finance, banking and insurance (7.70%).
In terms of economic structure, services accounted for 43.45% of GDP in the first quarter, followed by industry and construction at 37.15%, and agro-forestry-fishery at 10.89%.
On the expenditure side, final consumption rose by 8.45%, while gross capital formation increased by 7.18%.
External trade remained a bright spot, with exports of goods and services surging 19.85% year on year, while imports rose by 24.27%, reflecting strong demand for production inputs.
Despite initial impacts from geopolitical tensions in the Middle East, the economy maintained strong momentum in the first quarter, improving from the 7.07% growth recorded in the same period last year.
Nguyen Thi Huong, head of the National Statistics Office, said the result provides a solid foundation for achieving full-year growth targets, even as global uncertainties persist.
However, she cautioned that growth pressures are likely to intensify in the second quarter, as rising energy prices, input costs and potential supply chain disruptions could weigh on economic performance.
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