Vietnam’s Q3 GDP growth hits highest level since 2022

The country's GDP growth reached 9.01 percent in January-September, with industry and construction accounting for nearly half of the overall increase.

Its economic growth was 7.8 percent in the same period last year.

The National Statistics Office also revised up Q1 growth from 7.94 percent to 8.15 percent and Q2 growth from 8.39 percent to 8.81 percent, meaning economic growth accelerated in all three quarters of 2026.

Industry and construction grew 12.5 percent in Q3, the fastest among the three main economic sectors. 

Manufacturing and processing rose 12.28 percent, electricity production and distribution 13.13 percent, and construction 14.22 percent.

The services sector grew 9.54 percent, while agriculture, forestry, and fisheries expanded 4.21 percent.

In January-September, industry and construction grew 11.21 percent and accounted for 49.62 percent of the overall economic growth.

Services expanded 8.69 percent, contributing 45.03 percent, while agro-forestry-fishery grew 4.02 percent, contributing 5.35 percent.

The industrial production index also jumped 12.3 percent in the nine months, which the National Statistics Office described as the highest growth rate for the period in many years.

At the local level, 12 of Vietnam’s 34 cities and provinces recorded nine-month GRDP growth of at least 10 percent.

Quang Ninh City in the north posted the highest growth at 12.54 percent, followed by Ha Tinh Province in the north-central region at 12.36 percent, Hai Phong City at 12.08 percent, Bac Ninh City at 11.81 percent, and Ninh Binh Province at 11.31 percent.

Among the localities with lower growth rates were Son La Province in the north at 5.59 percent, Vinh Long at 7.32 percent, Ca Mau at 7.37 percent, and Dong Thap at 7.44 percent.

The statistics agency attributed the slower growth in these four localities to declines in electricity production and the relatively high share of agriculture in their economic structures.

Hanoi and Ho Chi Minh City, the country’s two largest economic hubs, recorded nine-month growth of 8.85 percent and 9.06 percent, respectively.