Press release socio-economic situation in the First quarter of 2026

I. INTERNATIONAL AND NATIONAL ECONOMIC CONTEXT

The global landscape in the Q1 2026 remained complex and unpredictable as escalating armed conflicts in the Middle East threatened international peace and security, triggering volatile energy prices, supply chain disruptions, and mounting inflationary pressures. Persistent trade policy uncertainties, coupled with the impacts of natural disasters and climate change, continued to pose significant headwinds to global growth. Against this backdrop, the world economy was projected to sustain its momentum from 2025, driven by an uptick in Foreign Direct Investment (FDI) and a robust surge in high-tech manufacturing investment considered as a new trend to become a primary engine of global growth in 2026.

International organizations had either maintained or upwardly revised their 2026 global growth forecasts compared to previous projections. Stronger-than-expected growth in economies such as the United States and the ASEAN region was anticipated to offset declines in Europe and the rest of the world. In January 2026, the International Monetary Fund (IMF)[1], the United Nations (UN)[2], and the World Bank (WB)[3] forecasted global economic growth at 3.3%, 2.7%, and 2.6%, respectively, each representing a 0.2 percentage point upward revision. In March 2026, the Organization for Economic Co-operation and Development (OECD)[4], Fitch Ratings[5] projected global growth at 2.9% and 2.6%, respectively, remaining unchanged and increasing by 0.2 percentage points compared to their December 2025 forecasts. However, most international organizations anticipated that 2026 global growth was projected to be 0.1 to 0.4 percentage points lower than in 2025.

While international organizations offer varying assessments of Southeast Asian economic growth for 2026[6], there was a consensus that Vietnam would led the region. Specifically, Viet Nam’s 2026 growth was projected to range from 6.0% to 7.6%[7]. Other regional economies followed, with the Philippines forecasted at 5.3–5.7%, Indonesia at 4.8–5.1%, Malaysia at 4.0–4.3%, Singapore at 1.8–2.1%, and Thailand at 1.6–2.0%.

The year 2026 holds profound significance as Viet Nam convened the 14^th National Congress of the Communist Party of Viet Nam and conducted elections for the 16^th National Assembly and People’s Councils at all levels for the 2026–2031 tenure. This year also marks the inaugural phase of the 5-year Socio-Economic Development Plan (2026–2030), which targets an ambitious average annual growth rate of 10% or higher, ushering in a new era of national development. Under the Party’s leadership and the Government and Prime Minister’s flexible, decisive, and effective direction, ministries, line-ministries, and localities have closely monitored global and domestic economic fluctuations since the early months of 2026. They have proactively implemented synchronized tasks and solutions outlined in the National Assembly and Government’s resolutions to achieve the set objectives. Consequently, Viet Nam’s socio-economic performance in the Q1 2026 achieved positive results despite a global context of instability and challenges. The sector-specific performance for the Q1 2026 is detailed as follows:

II. ECONOMIC GROWTH

1. Gross Domestic Product Growth Rate

Viet Nam’s Gross Domestic Product (GDP) in Q1 2026 was estimated to increase by 7.83%^[8] year-on-year (corresponding figure in the Q1 2025 was 7.07%). Specifically, the agriculture, forestry, and fishing sector grew by 3.58%, contributing 5.60% to the gross value added of the economy; the industry and construction sector rose by 8.92%, contributing 44.08%; and the services sector expanded by 8.18%, contributing 50.32%.

The agriculture, forestry, and fishing sector maintained steady growth. Perennial crop yields were favorable, pig farming continued its recovery, and aquaculture output surged thanks to the application of advanced science and technology. In the Q1 2026, the value added of the agricultural activities rose by 3.36% year-on-year, contributing 4.01% to the gross value added of the entire economy. The forestry activities grew by 3.22%, contributing 0.21%, while the fishing sector increased by 4.51%, contributing 1.38%.

The industry and construction sector, industrial production maintained its positive growth momentum, while construction activities flourished thanks to accelerated public investment disbursement. In the Q1 2026, the value added of the industrial activities rose by 9.01% year-on-year (versus 7.63% in the Q1 2025), contributing 38.34% to the gross value added of the economy. The manufacturing remained the primary driver of the economy, expanding by 9.73% (versus 9.36% in the Q1 2025) and contributing 32.52%. Additionally, the electricity supply grew by 6.54%, contributing 3.78%; the water supply, sewerage, waste management and remediation activities rose by 8.58%, contributing 0.63%; and the mining and quarrying increased by 5.42%, contributing 1.41%. The construction expanded by 8.36%, contributing 5.74%.

The services sector, robust consumer demand during the Lunar New Year and a significant surge in international arrivals to Viet Nam fueled the growth of the trade and services sector. The contributions of number of market service activities to the gross value added growth of the economy in the Q1 2026 were as follows the wholesale and retail trade increased by 9.62%, contributing 14.52%; transportation and storage rose by 8.95% year-on-year, contributing 6.95%; financial, banking, and insurance activities grew by 7.70%, contributing 5.09%; information and communications expanded by 7.65%, contributing 4.21%; and the accommodation and food service activities increased by 7.49%, contributing 2.89%. Additionally, services activities primarily funded by the State budget also recorded positive growth such as activities of the Communist Party, socio-political organizations, public administration and defense, compulsory security rose by 9.62% year-on-year, contributing 2.53%; education and training grew by 8.25%, contributing 4.05%; and human health and social work activities increased by 6.90%, contributing 2.18%.

Regarding the economic structure in the Q1 2026, the agriculture, forestry, and fishing sector; industry and construction sector; services sector; and taxes less subsidies on products accounted for 10.89%, 37.15%, 43.45%, and 8.51%, respectively [9].

Regarding GDP expenditure in the Q1 2026, final consumption, capital formation, exports of goods and services, and imports of goods and services recorded year-on-year increases of 8.45%, 7.18%, 19.85%, and 24.27%, respectively.

2. Agricultural, forestry, and fisheries production in the first quarter of 2026 maintained a stable growth. Localities continued to restructure crop production towards improving efficiency and product value. Perennial crop production saw a positive growth, pig farming witnessed a recovery, poultry farming showed a stable tendency; production of pig live weight and poultry live weight showed a year-on-year growth of 4.9%, and 5.8%, respectively. Area of newly planted forests and production of exploited wood showed an upward trend. Aquaculture production rose by 5.4% thanks to the promotion of super-intensive farming and application of high technology; marine capture saw a low growth due to impacts of the escalating oil prices, which limited the number of vessels from marine capture fisheries.

a) Agriculture

Spring rice: As of March 20^th, 2026, the national cultivation area reached 2,915.2 thousand hectares of spring rice, showing a year-on-year decrease of 37.3 thousand hectares. The Northern localities reached 1,020.1 thousand hectares, showing a year-on-year decrease of 13.4 thousand hectares; southern localities reached 1,895.1 thousand hectares, showing a decrease of 23.9 thousand hectares, of which the Mekong River Delta reached 1,240.7 thousand hectares, showing a drop of 24.8 thousand hectares. Of which, the Mekong River Delta harvested 466.8 thousand hectares of early spring rice, accounting for 37.6% of the cultivation area and showing a year-on-year decrease of 28.4 thousand hectares. The yield was estimated at 73.5 quintals/hectare, showing a year-on-year growth of 0.7 quintals/hectare; the production was estimated at 9.1 million tons, showing a decrease of 99.3 thousand tons.

Winter rice: At the end of the 2025-2026, the Mekong River Delta cultivated 182.3 thousand hectares, showing a year-on-year drop of 9.4 thousand hectares. The yield was estimated at 53.5 quintals/hectare, showing a year-on-year growth of 0.8 quintals/hectare; the production was estimated at 975.3 thousand tons, showing a decrease of 34.5 thousand tons.

Annual crops: As of March 20, 2026, localities nationwide cultivated 312.8 thousand hectares of maize, equaling to 97.1% of the same period last year, including: 89.6 thousand hectares of peanuts, equaling to 98.7%; 9.5 thousand hectares of soybeans, equaling to 105.6%; 43.0 thousand hectares of sweet potatoes, equaling to the same period last year; and 527.9 thousand hectares of vegetables, equaling to 100.4%.

Perennial crops: In the first quarter of 2026, prices of primary agricultural products remained high, encouraging people to expand cultivation scale and invested in crop care. In addition, the management of cultivating area codes and packaging facilities for export was being paid attention and implemented. Production of some major fruits showed a surge, year-on-year, of which durian reached 212.9 thousand tons, rising by 15.0%; jackfruit reached 199.9 thousand tons, rising by 12.8%. Production of fruits was as follows: grapefruit reached 175.5 thousand tons, rising by 5.8%; bananas reached 835.7 thousand tons, rising by 5.3%; dragon fruit reached 341.3 thousand tons, rising by 3.1%; mangoes reached 207.6 thousand tons, rising by 1.8%; and oranges reached 333.2 thousand tons, rising by 1.2%.

Production of some perennial industrial crops in the first quarter of 2026  showed an upsurge, including coconut reached 593.8 thousand tons, growing by 6.0%; cashew reached 208.7 thousand tons, growing by 5.4%; pepper reached 154.8 thousand tons, growing by 5.3%; tea leaves reached 187.7 thousand tons, growing by 4.2%; and rubber reached 135.5 thousand tons, growing by 0.4%.

Livestock: Cattle and buffalo farming in the first quarter of 2026 continued to face difficulties due to the shrinking land area for livestock farming, low efficiency and localities reduced the scale of livestock population. Pig farming continued to show a recovery and stability thanks to high pork prices. Poultry farming saw a positive growth thanks to the application of biosecurity farming models and supply chain linkages with large enterprises.

b) Forestry

In the first quarter of 2026, the area of newly concentrated planted forests nationwide was estimated at 45.6 thousand hectares, showing a year-on-year growth of 1.5%; the number of scattered forest trees planted was estimated at 19.0 million trees, showing a decrease of 1.5%[10]. Production of exploited wood reached 4,337.8 thousand cubic meters, showing an increase of 2.6%. The forest damage area[11] was recorded with 57.8 hectares, showing a year-on-year decrease of 73.2%, including 56.9 hectares of chopping down or destroyed, falling by 66.0%; and 0.9 hectares of burned forest, showing a decrease of 98.1%.

c) Fishing

In the Q1 2026, the production of capture fisheries and aquaculture was estimated at 2,184.0 thousand tons, showing a year-on-year growth of 3.2%, including: fish reached 1,621.9 thousand tons, rising by 2.8%; shrimp reached 229.8 thousand tons, rising by 6.2%; and other aquatic products reached 332.3 thousand tons, rising by 2.9%.

In the Q1 2026, aquaculture production was estimated at 1,296.8 thousand tons, showing a year-on-year climb of 5.4%, including: fish reached 946.7 thousand tons, rising by 4.8%; shrimp reached 196.3 thousand tons, rising by 7.3%; and other aquatic products reached 153.8 thousand tons, rising by 6.7%.

In the Q1 2026, production of capture fisheries was estimated at 887.2 thousand tons, showing a year-on-year increase of 0.2%, including: fish reached 675.2 thousand tons, raising by 0.2%; shrimp reached 33.5 thousand tons, raising by 0.3%; and other aquatic products reached 178.5 thousand tons, falling by 0.2%. Specifically, production of marine capture fisheries in the first quarter of 2026 was estimated at 839.3 thousand tons, showing a year -on-year increase of 0.2% (the figure of March 2026 was estimated at 271.3 thousand tons, showing a year-on-year decrease of 2.7%).

3. In the first quarter of 2026, industrial production continued to maintain a positive growth trend, with Industrial Production Index (IIP) estimated to increase by 9.0% year-on-year, marking the highest growth rate recorded since 2020[12]. Specifically, the manufacturing IIP rose by 9.7%.

In March, the IIP was estimated to grow by 18.8% month-on-month[13] and 6.9% year-on-year. Specifically, the water supply, sewerage, waste management and remediation activities recorded a year-on-year increase of 12.1%; manufacturing rose by 7.5%; the electricity supply increased by 4.6% and the mining and quarrying grew by 2.6%.

In the Q1 2026, the IIP was estimated to increase by 9.0% year-on-year (the corresponding figure in 2024 was 8.3%). Specifically, the manufacturing grew by 9.7%, contributing 7.6 percentage points to the overall growth; the water supply, sewerage, waste management and remediation activities increased by 7.8%, contributing 0.1 percentage points; the electricity supply rose by 6.3%, contributing 0.6 percentage points; the mining and quarrying grew by 4.7%, contributing 0.7 percentage points.

In the first quarter of 2026, the IIP of several key 2-digit activities experienced a year-on-year increase, including manufacture of basic metals (+22.9%); manufacture of other non-metallic mineral products (+19.7%); manufacture of chemicals and chemical products (+18.2%); manufacture of motor vehicles (+14.7%); manufacture of beverages (+14.5%); manufacture of furniture (+13.9%); manufacture of food products (+12.0%); manufacture of textiles (+8.6%); manufacture of wearing apparels (8.4%); manufacture of paper and paper products and manufacture of computer, electronic and optical products (8.3%), manufacture of wood and products of wood and cork (except furniture), manufacture of articles of straw and plaiting material  (+7.3%). Conversely, the IIP for some activities nudged up or decreased as follows: manufacture of fabricated metal products (except machinery and equipment) increased by 3.1%; mining of hard coal and lignite reduced by 4.8%; manufacture of other transport equipment reduced by 0.9%.

Several key industrial products in the first quarter of 2026 witnessed year-on-year increases as follows: motorcycles (+31.6%); processed aquatic products (+23.4%); steel bars, steel angles (+21.1%); roll steel (+20.3%); chemical paint (+19.2%); automobiles (+18.5%); powder milk (+14.5%); iron and crude steel (+14.3%). Conversely, some industrial products experienced a year-on-year reduction, including: urea fertilizers (-9.6%); mobile phones (-6.6%); NPK fertilizers (-5.4%); coal (processed) (-4.9%); and fabrics from natural yarn (-3.5%).

Index of Industrial Shipment (IIS) of the manufacturing in Q1 2026 witnessed a year-on-year increase of 9.5% (the corresponding period in 2025 saw an increase of 5.4%).

Index of Industrial Inventory of the manufacturing as of 31^st March 2026 experienced a month-on-month increase of 8.5% and a year-on-year rise of 12.9%. The average Inventory Turnover Ratio (ITR) for the manufacturing in the first quarter of 2026 was 84.9% (the corresponding period last year saw an average figure of 90.0%).

Number of employees in industrial enterprises as of March 1^st, 2026 saw a month-on-month growth of 1.1% and year-on-year increase of 2.4%.

4. Total number of enterprises entering and re-entering the market in the first quarter of 2026 reached 96.0 thousand enterprises, a year-on-year increase of 31.7%; 91.8 thousand enterprises withdrew from the market, a year-on-year increase of 16.5%.

a) Enterprise registration situation

In the Q1 2026, the whole country had over 57.4 thousand newly registered enterprises with a total registered capital of nearly 538.6 trillion VND and a total registered employee of over 265.9 thousand employees, a year-on-year increase of 57.8%, 51.0%, 16.5% in the number of enterprises, in registered capital and in the number of employees, respectively. The average registered capital of a newly established enterprises in the first quarter of 2026 reached 9.4 billion VND, a year-on-year decrease of 4.3%. The total registered capital added to the economy in the first quarter of 2026 had over 1.3 quadrillion VND, a year-on-year decrease of 5.1%[14].

In addition, the whole country had over 38.6 thousand resumed operation enterprises (a year-on-year increase of 5.7%), bringing the total number of newly established and resumed operation enterprises in the Q1/2026 to 96.0 thousand enterprises, and a year-on-year increase of 31.7%. On average, there were 32.0 thousand newly established and resume operation enterprises per month.

Overall, in the Q1 2026, the number of enterprises temporarily suspended for a definite time was nearly 63.5 thousand enterprises, a year-on-year increase of 3.3%; over 16.6 thousand enterprises suspended operation waiting for dissolution procedures, a year-on-year increase of 44.9%; and over 11.7 thousand enterprises completed procedures for dissolution, a year-on-year increase of 98.8%. On average, 30.6 thousand enterprises withdrew from the market per month.

b) Business tendency of the enterprise

Results of the business tendency survey of enterprises in the manufacturing in the first quarter of 2026 showed that: 23.8% of enterprises assessed that their business production situation was better than that in the fourth quarter of 2025; 46.1% of enterprises said that the business production situation was stable, and 30.1% of enterprises faced difficulties^[15]. It is expected that in the second quarter of 2026, 40.8% of enterprises presented that the tendency would get better than that in the first quarter of 2026; 37.5% of enterprises believed the business production situation would be stable, and 21.7% of enterprises predicted that it would be more difficult. Of which, the FDI enterprise sector was the most optimistic with 80.0% of enterprises forecasting that the business production situation in the second quarter of 2026 would be better and remain stable compared to the first quarter of 2026. These rate in the state-owned enterprise sector and the non-state enterprise sector were 79.6% and 77.3%, respectively.

Regarding production volume, 23.8% of enterprises assessed that the production volume in the Q1 2026 increased compared to the Q4 2025; 45.3% of enterprises considered it stable, and 30.9% of enterprises reported that the production volume reduced^[16]. In comparison with the Q1 2026, the trend in the Q2 2026 showed that 40.0% of enterprises forecasted an increase in production volume; 41.8% of enterprises predicted stability, and 18.2% of enterprises forecasted a decrease.

Regarding orders, 21.9% of enterprises had more new orders in the Q1 2026 than in the Q4 2025; 49.6% of enterprises witnessed stable orders, and 28.5% of enterprises recorded a decrease in orders^[17]. The quarter-on-quarter trend in the Q2 2026 showed that 37.7% of enterprises expected an increase in new orders; 44.2% of enterprises expected to have stable orders, and 18.1% of enterprises expected a decrease in orders.

Regarding export orders, for the quarter-on-quarter trend in the Q1 2026, 17.7% of enterprises confirmed more new export orders in; 55.0% of enterprises had stable new export orders, and 27.3% of enterprises had fewer new export orders. About the quarter-on-quarter trend in the Q2 2026, 30.3% of enterprises expected an increase in new export orders; 51.0% of enterprises expected stability orders, and 18.7% of enterprises expected a decrease.

5. Domestic consumer demand increased during holidays, including Tet, along with a rise in the number of international visitors to Viet Nam, serving as important drivers of growth in the trade and services activities in the first quarter of 2026. Overall, in the first quarter of 2026, gross retail sales of goods and services were estimated to rise by 10.9% year-on-year; passengers carried increased by 18.3% and passenger (passenger-kilometers) rose by 11.3% over that in the same period last year; freight transported increased by 14.5% and freight transported (ton-kilometers) rose by 12.0%. International visitors to Viet Nam amounted to 6.76 million arrivals, an increase of 12.4% over that in the same period last year, marking the highest first-quarter level on record.

The gross retail sales of goods and services at current prices in March 2026 were estimated at 638.6 trillion VND, increasing by 12.1% year-on-year. Overall, in the first quarter of 2026, the gross retail sales of consumer goods and services at current prices were estimated at 1,902.8 trillion VND, increasing by 10.9% over that in the same period last year, if excluding the price rising factor, the increase was 7.0%.

Passenger carried in March 2026 was estimated at 539.3 million turns of passengers, a year-on-year increase of 17.3% and passenger carried (passenger-kilometers) reached 26.8 billion passenger-kilometer, a year-on-year increase of 11.9%. Overall, in the first quarter of 2026, passenger carried was estimated at 1,649.8 million turns of passengers, a year-on-year increase of 18.3% and passenger carried (passenger-kilometers) reached 84.5 billion passenger-kilometer, a rise of 11.3%.

Freight transported in March 2026 was estimated at 272.5 million tons, a year-on-year rise of 16.3% and freight transported (ton-kilometers) reached 54.8 billion ton-kilometer, a year-on-year rise of 14.9%. Overall, in the first quarter of 2026, freight transported was estimated at 810.9 million tons, a year-on-year increase of 14.5% and freight transported (ton-kilometers) reached 157.6 billion ton-kilometer, a year-on-year increase of 12.0%.

­­­­ Telecommunications turnover at current prices in the Q1 2026, was estimated at 102.8 trillion VND, a year-on-year increase of 6.3% (excluding price factors, it increased by 6.6%). Total number of telephone subscribers as of the end of March 2026 was estimated at 122.4 million, an increase of 0.9% over that in the same period last year. Of which, the number of mobile subscribers was 120.0 million, a growth of 1.3%. The number of DSL Internet subscribers as of the end of March 2026 was estimated at 25.3 million, increasing by 4.0% over the same period last year.

 International visitors to Viet Nam in the first quarter of 2026 amounted to 6.76 million arrivals, an increase of 12.4% over that in the same period last year, of which, arrivals by air reached 5.56 million arrivals, accounting for 82.3% of total international visitors to Viet Nam and rising by 7.0% year-on-year; arrivals by road reached 1.05 million arrivals, accounting for 15.5% and increasing by 53.1%; arrivals by sea reached 148.2 thousand arrivals,  accounting for 2.2% and rising by 11.4%. By region, arrivals from Asia in the first quarter of 2026 reached 4.92 million, going up 4.4% over that in the same period last year; from Europe reached 1.23 million, up 55.6%; from the Americas reached 403.2 thousand, up 18.1%; from Oceania reached 189.7 thousand, up 18.5%; and from Africa reached 15.8 thousand, up 28.4%.

Number of outbound Vietnamese citizens in the first quarter of 2026 reached 1.2 million, going down 55% over the same period last year.

6. Monetary policy in the Q1 2026 was managed in a proactive, flexible, and synchronized manner, ensuring harmony with fiscal and other macroeconomic policies to support growth and stabilize the monetary, foreign exchange, and banking system. Meanwhile, the insurance sector recorded positive growth signals, and the stock market saw a significant expansion in trading volume, facilitating capital mobilization for enterprises.

As of March 24^th, 2026, total liquidity increased by 1.04% compared to the end of 2025 (versus a 1.89% increase during the same period in 2025). Deposits of credit institutions rose by 0.44% (the corresponding figure in 2025 was 1.23%), and credit growth of the economy reached 2.15% (against 2.28% in the corresponding period of 2025).

Regarding the insurance market, total premium revenue in the Q1 2026 was estimated at 57,058 billion VND, a year-on-year rise of 2.5%, specifically: Life insurance premium revenue was estimated at 33,073 billion VND, down 2.5%, while the non-life insurance premium revenue was estimated to reach 23,985 billion VND, an increase of 10.2%.

In the stock market, as of March 31^st, 2026, the VN-Index reached 1,674.49 points, a decline of 6.2% compared to the end of 2025. As of March 30th, 2026, market capitalization of listed stocks reached 9,613.6 trillion VND, down 3.6%. The average trading value reached 35,043 billion VND per session, increasing by nearly 19.8% compared to the 2025 average figure. By the end of February 2026, the stock market featured 728 listed stocks and fund certificates, and 844 stocks registered for trading on the UPCoM market. The total value of listed and registered securities reached 2,768 trillion VND, an increase of 2.5% compared to the end of 2025.

In the bond market, the average trading value in the Q1 2026 reached 21,452 billion VND per session, an increase of 2.6% compared to the 2025 average figure. By the end of February 2026, the bond market featured 471 listed bond codes with a listed value reaching 2,719 trillion VND, marking an increase of 1.6% compared to that in the end of 2025.

In the derivatives market, the average trading value in the Q1 2026 reached nearly 276.9 thousand contracts per session, representing an increase of 14.2% compared to the 2025 average figure. The number of investor accounts reached 12.3 million accounts by the end of February 2026, up 3.7% from year-end 2025.

7. Total disbursed investment in the first quarter of 2026 at current prices increased by 10.7% over that in the same period last year, higher than the growth of 9.4% recorded in the first quarter of 2025, reflecting a distinct recovery trend across various sectors and industries, contributing to enhance production capacity, improve infrastructure, and support economic growth. Disbursed Foreign Direct Investment (FDI) in Viet Nam for the first quarter of 2026 was estimated at 5.41 billion USD, a year-on-year increase of 9.1%, marking the highest first-quarter level recorded since 2022.

The total disbursed investment in the first quarter of 2026 at current prices was estimated at 744.7 trillion VND, a year-on-year increase of 10.7%, including: State sector’s investment capital reached 207.2 trillion VND, accounting for 27.8% of the total investment and a year-on-year upturn of 11.6%; the non-State sector’s investment  reached 402.4 trillion VND, accounting for 54.1%, up 9.8%; the FDI sector’s investment was estimated at 135.1 trillion VND, accounting for 18.1% and up 11.8%.

Total inward foreign direct investment (FDI) in Viet Nam[18] as of March 31st, 2026^[19] reached 15.20 billion USD, a year-on-year upturn of 42.9%. Of which: Newly registered capital, 904 projects were newly licensed with registered capital of 10.23 billion USD, a year-on-year increase of 6.4% in terms of the number of projects and an upturn of 2.4 times in terms of registered capital. Adjusted registered capital, 251 projects that were licensed from previous years registered to adjust investment capital to increase by 2.30 billion USD, a year-on-year decrease of 55.1%. There were 703 turns of registered capital contribution and shares purchased by foreign investors with a total capital contribution value of 2.66 billion USD, 2.3 times higher than that in the same period last year.

The disbursed FDI in Viet Nam in the three months of 2026 was estimated at 5.41 billion USD, a year-on-year increase of 9.1%.

Viet Nam’s outward investment in the three months of 2026 witnessed 48 projects granted with new investment certificates with a total capital of 597.2 million USD, 2.6 times higher than that in the same period last year; 4 turns of projects adjusted their capital with an additional of 22.8 million USD, 4.3 times higher than that in the same period last year. Generally, total Viet Nam’s outward FDI (newly licensed and adjusted capital) reached 619.9 million USD, 2.6 times higher than that in the same period last year.

8. State budget revenue in the Q1 2026^[20] was estimated to increase by 11.4% over the same period last year. State budget expenditure was estimated to increase by 23.1% over the same period in 2025, ensuring the needs of socio-economic development, national defense, security, state management, payment of due debts as well as timely payment to beneficiaries according to regulations.

The total state budget revenue accumulated in the Q1 2026 reached 829.4 trillion VND, reaching 32.8% of the annual estimate and going up by 11.4% over the same period last year[21]. Specifically: The domestic revenue in the Q1 2026 was 740.7 trillion VND, reaching 33.7% of the annual estimate and going up by 12.5% over the same period last year. Oil revenue in Q1 2026 was 11.2 trillion VND, reaching 26.1% of the annual estimate (down 15.8% YoY). This decline was attributed to the complicated and unpredictable global situation, intensifying strategic competition between major powers, and surging global oil prices.[22] Revenue from budget balance of import-export activities was 77.4 trillion VND, reaching 27.8% of the annual estimate (+7.6% YoY).

The total state budget expenditure in the Q1 2026 was estimated at 530.1 trillion VND, reaching 16.8% of the annual estimate (+ 23.1% YoY). Specifically, recurrent expenditure in the Q1 2026 was estimated at 376.0 trillion VND, equivalent to 20.8% of the annual estimate (+18.8% YoY); development investment expenditure was 116.1 trillion VND, equivalent to 10.4% of the annual estimate (+44.6% YoY); interest payment was 37.2 trillion VND, equivalent to 30.7% of the annual estimate (+11.9%YoY).

9. Export and import of goods and services

a) Export and import of goods^[23]

In Q1 2026, the total export and import turnover of goods reached 249.50 billion USD, going up 23.0% over same period last year, of which exports increased by 19.1%; and imports rose by 27.0%^[24]. The trade balance of goods recorded a deficit of 3.64 billion USD.

Export turnover of goods in March 2026 amounted to 46.44 billion USD, increasing by 40.3% over the previous month. Overall, in the Q1 2026, export turnover reached 122.93 billion USD, increasing by 19.1% over the same period last year. Of which, the domestic economic sector reached 24.47 billion USD, decreasing by 16.6%, accounting for 19.9% of total export turnover; the FDI sector (including crude oil) attained 98.46 billion USD, increasing by 33.3% and accounting for 80.1%. There were 20 export items with a value exceeding 1 billion USD, accounting for 86.8% of the total export turnover (including 5 items recorded export values of over 5 billion USD, accounting for 62.4%).

Import turnover of goods in March 2026 reached 47.11 billion USD, a rise of 38.2% over the previous month. Overall, in the Q1 2026, the import turnover of goods reached 126.57 billion USD, a year-on-year surge of 27.0%. Of which, the domestic economic sector reached 35.2 billion USD, a downturn of 4.3%; and the FDI sector reached 91.37 billion USD, an expansion of 45.3%. There were 22 imported products with a value exceeding 1 billion USD, accounting for 82.8% of the total import turnover (including 2 imported products with the value of over 5 billion USD, accounting for 49.8%).

b) Export and import of services

The export turnover of services in the Q1 2026 was estimated at 9.1 billion USD, a year-on-year increase of 19.2%. Of which, tourism services reached 4.9 billion USD (accounting for 53.8% of the total turnover), surging up 16.7%; and transport services reached 2.65 billion USD (accounting for 29.1%), shooting up 29.3%.

The import turnover of services in the Q1 2026 was estimated at 10.78 billion USD (including 4.0 billion USD for transportation and insurance service fees of imported goods), a year-on-year surge of 16.9%. Of which, transport services reached 4.75 billion USD (accounting for 44.1% of the total turnover), going up 27.2%; and tourism services reached 3.8 billion USD (accounting for 35.3%), accelerating by 11.8%.

The trade deficit of services in the Q1 2026 was 1.68 billion USD.

10. In the Q1 2026, the complex and unpredictable fluctuations of the global commodity market, escalating conflicts in the Middle East impacting the vital shipping routes, increased the risk of the global supply chain disruptions. The trend of trade protectionism, export and import controls, and the strategic goods reserves in many countries also increased. These factors impacted energy prices, logistics costs, and the prices of raw materials and fuels. Domestic production remained growth, meeting consumer demand during the Lunar New Year. The producer price index; input price index for production in the Q1 2026 experienced a year-on-year rise. In contrast, merchandise export and import price index in Q1 2026 recorded a year-on-year downturn.

a) Consumer price index

The Consumer Price Index (CPI) in March 2026 witnessed a month-on-month increase of 1.23% as result of a high rise in the prices of domestic gasoline in line with the prices of global fuel and the prices of construction material resulting from the higher costs of raw material and transport. The CPI in March saw an expansion of 2.44% and 4.65% compared to that in December 2025 and same period last year, respectively, leading to the highest year-on-year increase in CPI in March for five years[25]. In general, the CPI in Q1 2026 experienced a year-on-year increase of 3.51%.

Core inflation[26] in March 2026 witnessed a month-on-month increase of 0.47% and a year-on-year rise of 3.96%. On average, core inflation in the Q1 2026 recorded a year-on-year surge of 3.63%, higher than a soar of 3.51% in the overall CPI, mainly due to food prices which were the factors that caused a decline in the overall CPI, were excluded from the list of core inflation calculations.

b) Gold and US dollar price index

Domestic gold prices fluctuated in the opposite direction to the world gold prices. In March 2026, the world gold prices plunged after previous period of spike due to the combination of economic impacts and psychological impacts in the context of complex geopolitical environment. An increase in investor’s profit-taking and capital withdrawal at the end of February 2026 generated selling pressure on the gold market. Simultaneously, the US dollar appreciation and expectations of high interest rates led to a less attractiveness of gold. Domestic price index of gold in March 2026 possessed a month-on-month jump of 1.54%; a year-on-year spite of 82.77%; a surge of 18.81% compared to that in December 2025; the average gold price index in the Q1 2026 shot up 82.70%.

Domestic US dollar prices fluctuated in line with the global prices, the average on the free market was around 26,315 VND/USD. The US dollar price index in March 2026 saw a month-on-month expansion of 0.72%; a year-on-year upturn of 2.25%; a decrease of 0.47% compared to that in December 2025; the average US dollar price index in the Q1 2026 accelerated by 2.58%.

c) Producer price index, input producer price index

The producer price index of agriculture, forestry and fishing in the Q1 2026 witnessed a quarter-on-quarter expansion of 5.39% and a year-on-year upturn of 4.50%. Of which, the producer price index of agriculture and related services soared by 6.20% and 4.49%; the producer price index of forestry and related services jumped by 2.41% and 3.73%; the producer price index of aquaculture and fisheries products edged up 2.69% and 4.28%.

The producer price index of the industry in the Q1 2026 possessed a quarter-on-quarter increase of 0.68% and a year-on-year rise of 2.95%. Of which: The producer price index of mining and quarrying products fell by 0.05% and 3.59%; manufacturing increased by 0.69%, 3.13%; electricity, gas, hot water, steam and air conditioning added up 0.97%, 5.23%; water collection, sewerage, waste management and remediation activities edged up 2.01%, 2.73%.

The producer price index of the service in the Q1 2026 saw a quarter-on-quarter increase of 2.08% and a year-on-year rise of 4.07%. Of which: transport and storage services increased by 5.75% and 8.77%; accommodation and catering services jumped up 2.20% and 5.29%; information and communication added up 0.05% and decreased by 0.06%; education and training expanded by 0.15% and 3.42%; health care and social assistance activities climbed up 0.38% and 0.63%; arts, entertainment and recreation went up 0.36% and 1.52%.

The input producer price index in the Q1 2026 possessed a quarter-on-quarter expansion of 1.44% and a year-on-year upturn of 4.76%. Of which, the input price index for agriculture, forestry, and fisheries rose by 1.87% and 3.84%; the input price index for manufacturing grew by 1.42% and 4.64%; and the input price index for construction soared by 1.59% and 6.32%.

d) Merchandise export and import price index

The merchandise export price index in the Q1 2026 possessed a quarter-on-quarter increase of 0.31% and a year-on-year decrease of 0.18%. The merchandise import price index in the Q1 2026 experienced a quarter-on-quarter increase of 0.63% and year-on-year downturn of 1.42%. The terms of trade (TOT)[27] in the Q1 2026 recorded a quarter-on-quarter decrease of 0.32% and a year-on-year increase of 1.26%.

III. SOCIAL ISSUES

1. The labour and employment situation in the Q1 2026 remained stable. The size of the labour force and the number of employed persons decreased compared to the previous quarter but increased year-on-year, aligning with typical first-quarter trends. Average monthly income of employees rose both quarter-on-quarter and year-on-year, contributing to improved living standards of people. Unemployment rate and underemployment rate remained under control; the informal employment rate declined compared to the same period last year.

The labour force aged 15 and over in the Q1 2026 reached 53.6 million persons, a quarter-on-quarter decrease of 232.9 thousand persons and a year-on-year increase of 687.8 thousand persons; the labour force participation rate in the Q1 2026 stood at 68.3%, a quarter-on-quarter decline of 0.4 percentage points and a year-on-year growth of 0.1 percentage points. The proportion of employees with diplomas/certificates in the Q1 2026 was 29.6%, representing a quarter-on-quarter increase of 0.1 percentage points and a year-on-year rise of 0.8 percentage points.

The number of employed persons in the Q1 2026 was estimated at 52.5 million persons, declining by 233.4 thousand persons, equivalent to a quarter-on-quarter drop of 0.4% and rising by 656.8 thousand persons, corresponding to a year-on-year augment of 1.3%. Of which, the employees in the urban area were 20.6 million persons, sharing 39.2%, a quarter-on-quarter drop of 122.2 thousand persons and a year-on-year increase of 587.5 thousand persons; those in the rural area were 31.9 million persons, occupying 60.8%, a decrease of 111.2 thousand persons and a growth of 69.3 thousand persons, respectively.

The number of underemployed persons at working age[28] in the Q1 2026 was 786.7 thousand persons, representing a quarter-on-quarter increase of 2.7 thousand persons and a year-on-year decrease of 10.3 thousand persons. The underemployment rate at working age was 1.68%, reflecting a near-stable quarter-on-quarter trend and a slight year-on-year decline. Of which, the underemployment rate in urban areas was 1.27%, the figure for rural areas stood at 1.95%.

The average income of employees in the Q1 2026, sustained its upward trend, climbing to 9.0 million VND/month, reflecting a quarter-on-quarter growth of 329 thousand VND (3.8%) and a year-on-year rise of 706 thousand VND (8.5%). Of which, the average monthly income of male employees was 10.1 million VND/month, the figure for female employees registered at 7.7 million VND/month; the average income of employees in the urban areas was 10.7 million VND/month, while in the rural areas it was 7.9 million VND/month.

The unemployment rate at working age[29] in the Q1 2026 was 2.21%, remaining virtually unchanged quarter-on-quarter and year-on-year. The urban unemployment rate in Q1 this year was 2.46%, continuing to stay below 3.0%[30].

The labour underutilization rate[31] in Q1 2026 stood at 4.2%. Specifically, the labour underutilization rate in urban areas was 3.9%, while it was 4.3% in rural areas.

The number of owned-account workers in the Q1 2026 was over 3.8 million persons, equivalent to the same period last year.

2. According to monthly labour and employment survey results, household income and living standards continued to improve. Social security remained a priority, being implemented promptly and effectively by authorities from central to local levels.

The proportion of households assessing that their income in the Q1 2026 increased compared to the same period in 2025 was 31.8%; 64.0% of households saw no change, and 4.2% reported that their income decreased or undetermined. Compared to the fourth quarter of 2025, the percentage of households with increased income rose by 3.3 percentage points, those with stable income fell by 3.6 percentage points, and those reporting a decrease or uncertainty grew by 0.3 percentage points. In comparison with the Q1 2025, the proportion of households with rising income fell by 2.7 percentage points, unchanged income increased by 2.1 percentage points, and those with decreased or undetermined income rose by 0.6 percentage points.

The total social security support[32] for all groups (as of March 25^th, 2026) reached nearly 25.0 trillion VND, an increase of over 7.0 trillion VND (nearly 39.0%) compared to the Q1 2025. Details for specific groups were as follows: support for national devotees and martyrs’ relatives reached nearly 12.7 trillion VND, a rise of 38.7% compared to Q1 2025; support for social protection beneficiaries under Decree N^o. 20/2021/ND-CP was nearly 10.4 trillion VND, a growth of 53.5%; support for poor households, near-poor households, households in difficult circumstances, and social policy households reached nearly 1.6 trillion VND, a decrease of 15.3% ; sudden and unusual support in localities amounted to nearly 366.2 billion VND, a surge of 66.5%. Over 32.6 million health insurance cards/ free medical examination and treatment cards were distributed to beneficiaries, representing a 22.2% increase compared to the Q1 2025.

With respect to rice assistance, from the start of the year until March 27^th, 2026, the Government provided 15.3 thousand tons of rice to the people, of which: nearly 9.1 thousand tons for hunger relief during the Lunar New Year for 604.6 thousand persons; 5.6 thousand tons for pre-harvest hunger relief for 372.9 thousand persons; and over 604 tons for natural disaster and flood recovery for 40.3 thousand persons.

Regarding the “Quang Trung” Campaign, after 1.5 months of implementation, the campaign was completed two weeks ahead of schedule, 34,759 damaged houses were fully repaired, allowing residents to return by December 31^st, 2025, all 1,597 houses that were destroyed, collapsed, or swept away were rebuilt and completed before January 15^th, 2026, providing people with sturdy homes to celebrate the 14^th National Party Congress and welcome the new spring[33].

In implementation of the Conclusion Notice N^o. 81-TB/TW dated July 18^th, 2025, by the Politburo regarding the investment policy for school construction in border communes, on March 19^th, 2026, a simultaneous groundbreaking ceremony for multi-level boarding schools was held across 121 inland border communes in 17 provinces and cities nationwide. Along with the 108 schools started construction in 2025, this brought the total to 229 multi-level boarding schools, creating favorable conditions for the comprehensive educational development of pupils in 229 inland border communes[34].

3. Epidemic conditions, food hygiene and safety, and food poisoning remained largely under control in the Q1 2026, though risks of further spread persisted, potentially affecting public health and lives.

According to the report of the Ministry of Health, in general, in the Q1 2026, there were 38.6 thousand cases of dengue fever (04 deaths[35]); 22.6 thousand cases of hand, foot and mouth disease (04 deaths[36]); 2,430 cases of rash fever suspected of measles; 81 cases of viral encephalitis; 54 cases of COVID-19; 21 cases of meningococcal meningitis; and 10 deaths from rabies in the whole country.

As of March 17^th, 2026, the total number of people living with HIV nationwide was 255.6 thousand persons; the number of deaths from HIV/AIDS was 118.1 thousand persons.

Regarding food hygiene and safety, according to reports from several media agencies, in recent times, the authorities have detected and handled large-scale cases involving the collection, transportation, slaughter, and consumption of diseased pigs in several provinces. The violators distorted slaughter control results and created conditions for animals and animal products that did not meet veterinary hygiene and food safety requirements to enter the market. In response to this situation, on March 30^th, 2026, the Prime Minister issued the Official Dispatch N^o. 26/CĐ-TTg to rectify slaughter control activities and strengthen discipline and administrative order in the performance of public duties[37].

Regarding food poisoning, in the Q1 2026 (from December 19^th, 2025 to March 17^th, 2026), there were 20 cases with 500 persons poisoned (03 deaths) nationwide.

4. The protection and promotion of cultural heritage values received due attention and were actively implemented by local authorities. Elite sports also achieved several notable results.

In the Q1 2026, a wide range of vibrant and diverse cultural activities took place, including traditional festivals, heritage preservation efforts, and artistic and creative events. Several traditional festivals were organized, such as Dong Da Mound Festival, Giong Festival in Soc Son, Huong Pagoda Festival, Yen Tu Festival, Vieng Market Festival, Ba Chua Kho Temple Festival, and Con Son-Kiep Bac Festival. In addition, a number of other notable cultural events were held during the quarter, including New Year celebrations and activities at the Viet Nam National Village for Ethnic Culture and Tourism, featuring programs that recreated folk festivals, highland markets, and cultural exchanges among ethnic groups; Pho Festival 2026 held from March 20^th-22^nd in Ninh Binh; Ao Dai Week 2026 from March 1^st-8^th in celebration of the 116^th anniversary of International Women’s Day; and the opening ceremony of the National Tourism Year – Gia Lai 2026, themed “Gia Lai – Where the Great Highlands Meet the Blue Sea” held on March 28^th in Gia Lai, aiming to honor Viet Nam’s cultural, historical, and human values, and contributing to the promotion of tourism as a key economic sector.

Regarding mass sport, in the Q1 2026, mass sports activities were dynamic and widespread, with enthusiastic participation of the public, in connection with celebrations of Viet Nam Sports Day (March 27^th) and the orientation for sports development in the new period. Many localities simultaneously implemented the “National Physical Fitness and Sports Month” and the Olympic Run Day for Public Health, attracting participation from thousands to millions of people.

Regarding elite sport, in the Q1 2026, Viet Nam’s elite sport recorded numerous dynamic and significant activities, particularly in the context of the 80^th anniversary of the Traditional Day of the Sports Sector (March 27^th, 1946 – March 27^th, 2026) and preparations for the 10^th National Sports Games. Notable events included: the 67^th Tien Phong National Marathon and Long Distance Championships held in Khanh Hoa from March 27^th-29^th; the Ciputra Hanoi International Badminton Tournament held in Hanoi from March 22^nd-29^th; the 3×3 Basketball Open in Hanoi from March 13^rd to 15^th  and national U16 youth tournaments; the International Women’s Cycling Tournament held in Ho Chi Minh City from March 9^th to 14^th; beach wrestling in Bac Ninh from March 8^th to 15^th; and the Viet Nam Masters 2026 professional golf tournament held in Long An from March 15^th to 19^th.

Regarding international competition results, the Viet Nam women’s national football team recorded mixed results at the AFC Women’s Asian Cup 2026 held in Australia from March 1^st to 21^st. Alongside competitions, a number of honoring activities such as the “Glory of Viet Nam Sports” Gala and the nationwide “Olympic Run Day” were organized, contributing to honoring outstanding athletes and promoting the spirit of sports.

5. Traffic accidents^[38]

In the Q1 this year, there were 3,926 traffic accidents nationwide, causing 2,407 deaths and 2,352 injuries. Compared to the figures of the same period last year, the number of traffic accidents cases, deaths, and injuries decreased by 15.7%, 6.7%, and 24.1%, respectively. On average, in the Q1 2026, there were 44 traffic accidents occurred a day, causing 27 deaths and 26 injuries.

6. Damage caused by natural disasters[39], environmental pollution, fires and explosions had a significant impact on people’s lives in several localities.

In the Q1 2026, natural disasters caused 1 death and 10 injuries; damaged more than 2.4 thousand hectares of rice and other crops; destroyed, swept away, or damaged 446 houses. Total property losses caused by natural disasters in the Q1 2026 were estimated at 159.7 billion VND, increased by 76.2% compared to the same period in 2025.

In the Q1 2026, the functional authorities detected 5,591[40] cases of environmental violations, of which, 4,832 cases were addressed with a total fine of nearly 87.6 billion VND, recording a year-on-year increase of 24.0%. There were 729 cases of fire and explosion[41] nationwide, causing 26 deaths and 34 injuries, with an estimated loss of 237.6 billion VND, 4.6 times higher than the same period last year.

[1] IMF (Jan 2026), “World Economic Outlook Update: Global Economy: Steady amid Divergent Forces”, https://www.imf.org/en/publications/weo/issues/2026/01/19/world-economic-outlook-update-january-2026, accessed 26 Mar 2026.

[2] UN (Jan 2026), “World Economic Situation and Prospects 2026”, https://www.un.org/development/desa/dpad/publication/world-economic-situation-and-prospects-2025/, accessed 26 Mar 2026.

[3] WB, tháng 01/2026, “Triển vọng kinh tế toàn cầu tháng 01/2026”, https://www.worldbank.org/en/publication/global-economic-prospects, accessed 26 Mar 2026.

[4] OECD (Mar 2026), “OECD Economic Outlook, Interim Report March 2026 Testing Resilience”, https://www.oecd.org/en/publications/oecd-economic-outlook-interim-report-march-2026_d4623013-en.html, accessed 27 Mar 2026.

[5] FR (Mar 2026), “Global Economic Outlook – March 2026: Growth Continues Despite Geopolitical Shocks”, https://www.fitchratings.com/research/sovereigns/global-economic-outlook-march-2026-11-03-2026, accessed 26 Mar 2026.

[6] AMRO (Jan 2026), “Quarterly Update of the ASEAN+3 Regional Economic Outlook (AREO)”, https://amro- asia.org/asean3-regional-economic-outlook-areo/, accessed 26 Mar 2026.

[7] WB, UN, and AMRO forecasted Viet Nam’s 2026 growth at 6.3%, 6.0%, and 7.6%, respectively.

[8] From Q1 2026, GDP is calculated at constant 2020 prices.

[9] The corresponding structure for the same period in 2025 was 11.50%, 36.50%, 43.40%, and 8.60%, respectively

[10]  Scattered trees saw a decrease as localities adjusted their forestry plans, prioritizing the restoration of forest areas affected by storms at the end of 2025.

[11] The figures released by Ministry of Agriculture and Environment as of March 15, 2025.

[12] The IIP in the first quarter during the period 2020 to 2026 compared with the same period last year were: 5,6%; 5,7%; 6,8%; -2,6%; 5,9%; 8,3%; 9,0% respectively.

[13] The number of working days in March was 7 days more than in the previous month.

[14] Of which, the additional registered capital of active enterprises in the first quarter of 2026 reached over 777.4 trillion VND (a -year-on-year decrease of 24.5%).

[15]Corresponding index for Q4/2025: 35.2% of enterprises assessed better than the Q3/2025; 43.9% of enterprises said that the production and business situation was stable, and 20.9% of enterprises faced difficulties.

[16]Corresponding index of the Q4/2025: 36.8% of enterprises assessed production volume in the Q4/2025 increased compared to the Q3/2025; 41.9% of enterprises said it was stable, and 21.3% of enterprises assessed that production volume decreased.

[17]Corresponding index of the Q4/2025: 33.8% of enterprises had more orders in the Q4/2025 than in the Q3/2025; 45.5% of enterprises had stable orders, and 20.7% of enterprises had fewer orders.

[18] Including: newly registered capital, adjusting registered capital, and capital contribution and purchasing shares by foreign investors.

[19] According to the report of the Foreign Investment Agency, Ministry of Finance, received on April 2^nd, 2026.

[20] Data received from the State Budget Department – Ministry of Finance on March 31^st, 2026.

[21] During the Q1 2026, oversight of tax registration, declaration, payment, and refunds was significantly strengthened. Authorities stepped up tax collection and anti-evasion measures within the e-commerce sector, while ensuring the timely remittance of emerging revenues into the State budget. Simultaneously, tax, fee, and charge exemption and reduction policies continued to be implemented to alleviate hardships for businesses and citizens, supporting the recovery and socio-economic development.

[22] Brent crude oil prices were hovering around 107 USD per barrel, while WTI crude was at approximately 101 USD per barrel.

[23] The value of export turnover was calculated at F.O.B price and import turnover was calculated at C.I.F price (including transportation and insurance costs of imported goods).

[24] Total import and export turnover of goods in the first quarter of 2025 reached 202.89 billion USD, a year-on-year increase of 13.8%, of which export reached 103.23 billion USD, an expansion of 11.0%; import gained 99.66 billion USD, a surge of 17.0%.

[25] The year-on-year increase in CPI in March was 2.41%; 3.35%; 3.97%; 3.13%; 4.65% in 2022; 2023; 2024; 2025; and 2026, respectively.

[26] The CPI after excluding the prices of fresh food, foodstuff, energy, and State-managed goods, which include healthcare and education services.

[27] Merchandise export price index compared to merchandise import price index

[28] Underemployed persons at working age consist of employed persons who want to work overtime; are willing to work overtime; and actually work less than 35 hours per week.

[29] Unemployed persons are persons aged 15 and over, who simultaneously meet three criteria during the reference period: currently without work, seeking work and available for work. The unemployment rate expresses the percentage of unemployed persons in the labour force.

[30] The urban unemployment rates at working age in the first quarter for the 2022-2026 period were 2.88%, 2.66%, 2.64%, 2.38%, and 2.46%, respectively.

[31] The labour with unmet need for employment (also known as underutilized labour) includes the unemployed, the underemployed, and a group outside the labour force who are available for work but not seeking, or seeking but not currently available to start immediately. The labour underutilization rate is the ratio of the labour force with unmet need for employment to the total labour force that is in need of working in the economy.

[32] According to summary reports from localities, from the beginning of the year to date

[33] According to Notice No. 36/TB-VPCP dated January 20^th, 2026, issued by the Government Office.

[34] https://laodong.vn/thoi-su/229-truong-pho-thong-noi-tru-lien-cap-cac-xa-bien-gioi-da-duoc-khoi-cong-1671354.ldo

[35] Two additional deaths were recorded in February 2026.

[36] One additional death was recorded in February 2026.

[37] https://baochinhphu.vn/cong-dien-cua-thu-tuong-chinh-phu-ve-chan-chinh-cong-tac-kiem-soat-giet-mo-gia-suc-tang-cuong-ky-luat-ky-cuong-trong-thuc-thi-cong-vu-102260331011609845.htm

[38] According to a quick report from the Office of the Ministry of Public Security and the Viet Nam Maritime and Waterways Administration (Ministry of Construction) on March 29^th, 2026.

[39] According to reports compiled by provincial and centrally-governed cities Statistics Offices, reporting period from 26^th February to 25^th March 2026.

[40] According to data compiled by Provincial and centrally-governed cities Statistics Offices from the reports of Provincial Departments of Agriculture and Environment and Provincial Police Departments.

[41] According to a quick report from the Ministry of Public Security dated March 23^rd, 2026.