Vietnam recorded economic growth of 7.83% in the first quarter of 2026, higher than the 7.07% achieved in the same period of 2025. This outcome is somewhat surprising given that the domestic economy has been significantly affected by global instability, ranging from the conflict in the Middle East to supply chain disruptions and energy price shocks. Domestic consumption as a key pillar From a GDP structure perspective, the services sector made the largest contribution to first-quarter growth, accounting for 50.32%, followed by industry and construction at 44.08%, while agriculture contributed only about 5.6%. This structure indicates that services continue to be the main driver of growth, which is expected due to seasonal factors, as service activities typically surge in the early months of the year. In terms of GDP utilization, first-quarter growth in 2026 was not driven by a single factor but rather by the combined contribution of three main pillars: consumption, investment, and exports of goods and services, which grew by 8.45%, 7.18%, and 19.85%, respectively. However, imports of goods and services also rose sharply by 24.27%, driven by soaring energy prices and the depreciation of the Vietnamese dong during the first three months of the year. First, the […]
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