9M26: Growth accelerates, double-digit target within reach

Vietnam’s 3Q26 economic growth accelerated to its fastest quarterly pace in a decade, supported by broad-based momentum across industry, construction, and services, alongside strong investment and resilient domestic consumption. The stronger-than-expected performance brings the government’s ambition of achieving double-digit growth closer to reality. In September, industrial production accelerated across major sectors, while the trade balance returned to surplus despite persistent geopolitical risks, tariff uncertainty, and softer export orders. FDI momentum also strengthened, with both disbursements and new project registrations posting robust growth, while retail sales moderated slightly following the peak summer travel season. Meanwhile, higher domestic fuel prices pushed headline inflation closer to the government’s annual ceiling, although subdued core inflation suggests that underlying price pressures remain well contained.