Report socio-economic ferformance Q1 2026

1. Gross Domestic Product Growth Rate

Viet Nam’s Gross Domestic Product (GDP) in the Q1 2026 was estimated to increase by 7.83% 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%.

Regarding the economic structure in 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 [1].

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. Agriculture, forestry and fishing

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. Of which, the Mekong River Delta reached 1,240.7 thousand hectares, showing a decrease of 24.8 thousand hectares; the harvested area reached 466.8 thousand hectares, accounting for 37.6% of the cultivating area and showed a decrease of 28.4 thousand hectares; the yield was estimated at 73.5 quintals/hectare, rising by 0.7 quintals/hectare; 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 period, 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 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^th, 2026, the cultivating progress of some spring crops such as soybeans and vegetables showed a year-on-year increase; the planted area of maize and peanuts decreased mainly due to low economic efficiency.

– Perennial crop: Production of perennial crops in the first quarter of 2026 witnessed a positive growth, prices of primary agricultural products remained high, encouraging people to expand cultivation scale and invested in crop care.

– 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; pig farming continued to show a recovery and stability. Total number of pigs nationwide at the end of March 2026 showed a year-on-year increase of 2.9%; total number of poultry showed a growth of 3.3%; total number of cattle experienced a decrease of 1.9%; and number of buffaloes decreased by 4.8%.

b) Forestry

In March 2026, the area of newly concentrated planted forests nationwide was estimated at 23.9 thousand hectares, showing a year-on-year decrease of 1.1%; the number of scattered forest trees planted reached 8.9 million trees, rising by 2.9%; production of exploited wood reached 1,684.2 thousand m³, rising by 4.1%; the area of forest damaged in March 2026 was 9.4 hectares, showing a year-on-year slump of 86.4%. Generally, 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%; the production of exploited wood reached 4,337.8 thousand m³, showing an increase of 2.6%; the forest damaged was 57.8 hectares, showing a decrease of 73.2%.

c) Fishing

Capture fisheries and aquaculture production in March 2026 reached 780.7 thousand tons, showing a year-on-year increase of 2.8%. Of which, aquaculture production was estimated at 495.4 thousand tons, showing a rise of 6.1%; Production of capture fisheries was estimated at 285.3 thousand tons, showing a decrease of 2.7%. Generally, in the first quarter of 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%, of which, aquaculture production was estimated at 1,296.8 thousand tons, showing a climb of 5.4%, production of capture fisheries was estimated at 887.2 thousand tons, showing  an increase of 0.2%.

3. Industrial production

– In the Q1 2026, Industrial Production Index (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.

– The IIP in the first quarter of 2026 experienced a year-on-year increase in all 34 provinces and municipalities.

– In Q1 2026, Index of Industrial Shipment of the manufacturing recorded 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 March 31^st, 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. Enterprise activities

a) Enterprise registration situation

– In March, the whole country had nearly 22.0 thousand newly established enterprises, a month-on-month increase of 94.1% and a year-on-year increase of 40.5%; over 7.9 thousand resumed operation enterprises, a month-on-month increase of 28.3% and a year-on-year decrease of 13.3%; 5,059 enterprises registered to temporarily suspended for a definite time, a month-on-month increase of 18.8% and a year-on-year increase of 15.2%; 6,304 enterprises suspended operation waiting for dissolution procedures, a month-on-month increase of 80.5% and a year-on-year increase of 28.7%, and 3,818 enterprises completed procedures for dissolution, a month-on-month increase of 16.0% and a year-on-year increase of 78.7%.

– Overall, in the Q1 2026, the whole country had 96.0 thousand newly registered and resumed operation enterprises, and a year-on-year increase of 31.7%; on average, there were 32.0 thousand newly established and resumed operation enterprises per month. The number of enterprises withdrew from the market was 91.8 thousand enterprises, a year-on-year increase of 16.5%; on average, 30.6 thousand enterprises withdrew from the market per month. The total registered capital added to the economy in the first quarter of 2026 was over 1.3 quadrillion VND, a year-on-year decrease of 5.1%.

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. 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.

5. Service activities

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 month-on-month decreasing of 2.2%, and passenger carried (passenger-kilometers) reached 26.8 billion passenger-kilometer, going down 5.7%. 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, month-on-month increase of 2.9% and freight transported (ton-kilometers) reached 54.8 billion ton-kilometer, a month-on-month upturn of 3.5%. 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 first quarter of 2026, was estimated at 102.8 trillion VND, a year-on-year increase of 6.3% (excluding price factors, it increased by 6.6%).

International visitors to Viet Nam in March 2026 reached nearly 2.1 million arrivals, a year-on-year increase of 1.3%. Overall, in the first quarter of 2026, 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 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. Banking, insurance, and security market activities

– As of March 24^th, 2026, total liquidity increased by 1.04% compared to the end of 2025. Deposits of credit institutions rose by 0.44%, and credit growth of the economy reached 2.15%.

– 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%.

– The stock market saw a significant expansion in trading volume, facilitating capital mobilization for enterprises. In the Q1 2026, the average trading value on the stock market reached 35,043 billion VND per session, increasing by nearly 19.8% compared to the 2025 average figure. In the bond market, the average trading value in the Q1 2026 reached 21,452 billion VND per session (up 2.6%). In the derivatives market, the average trading value reached nearly 276.9 thousand contracts per session, (up 14.2%).

7. Development investment

– 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%.

– Total inward foreign direct investment (FDI) in Viet Nam as of March 31^st, 2026, including: Newly registered capital, adjusted registered capital, and capital contribution and shares purchased by foreign investors reached 15.20 billion USD, a year-on-year upturn of 42.9%.

– Disbursed FDI in Viet Nam in the Q1 2026 was estimated at 5.41 billion USD, a year-on-year increase of 9.1%.

– Viet Nam’s outward direct 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 addition 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 and expenditure

Total state budget revenue in March 2026 was estimated at 219.3 trillion VND. The total state budget revenue accumulated in the Q1 2026 reached 829.4 trillion VND, reaching 32.8% of the annual estimate (+11.4% YoY).

Total state budget expenditure in March 2026 was estimated at 207.5 trillion VND. The accrued expenditure in the Q1 2026 was estimated at 530.1 trillion VND, reaching 16.8% of the annual estimate (+23.1% YoY).

9. Export and import of goods and services^[2]

a) Export and import of goods^[3]

In March 2026, total export and import turnover of goods reached 93.55 billion USD, a month-on-month increase of 39.2% and a year-on-year rise of 23.9%. Overall, in the 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%. The trade balance of goods recorded a deficit of 3.64 billion USD.

– Export of goods: Export turnover of goods in March 2026 amounted to 46.44 billion USD, increasing by 40.3% over the previous month and increased by 20.1% over that in the same period last year. 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%.

+ Regarding the structure of exported goods in the Q1 2026, the group of manufactured products reached 110.52 billion USD, accounting for 89.9%.

– Import of goods: Import turnover of goods in March 2026 reached 47.11 billion USD, a rise of 38.2% over the previous month and increased by 27.8% over that in the same period last year. 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%.

+ Regarding the structure of imported goods in the Q1 2026, the group of capital goods reached 118.84 billion USD, accounting for 93.9%.

– Regarding export and import markets of goods in the Q1 2026, the United States was Viet Nam’s largest export market with a turnover of 39.0 billion USD. China remained Viet Nam’s largest import market with a turnover of 50.1 billion USD.

– According to preliminary data, the trade balance of goods in March 2026 recorded a deficit of 0.67 billion USD. Overall, in the Q1 2026, the trade balance of goods posted a deficit of 3.64 billion USD (a surplus of 3.57 billion USD in the same period last year). Of which, the domestic economic sector ran a trade deficit of 10.73 billion USD; while the FDI sector (including crude oil) recorded a trade surplus of 7.09 billion USD.

b) Export and import of services

In the Q1 2026, the export turnover of services 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 Q1 2026 was 1.68 billion USD.

10. Consumer price index, gold and US dollar price index

a) Consumer price index, gold and US dollar price index

– The Consumer Price Index (CPI) in March 2026 witnessed a month-on-month increase of 1.23%; an expansion of 2.44% and 4.65% compared to that in December 2025 and same period last year, respectively. These figure was the highest year-on-year increase in CPI in March for five years. In general, the CPI in the Q1 2026 experienced a year-on-year increase of 3.51%; core inflation saw a rise of 3.63%.

– Gold price index 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%.

– 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%.

b) Producer Price Index

The input producer price index in the Q1 2026 possessed a year-on-year upturn. In contrast, merchandise export and import price index in the Q1 2026 possessed a year-on-year. In the Q1 2026, the producer price index of agriculture, forestry and fishing witnessed a quarter-on-quarter expansion of 5.39% and a year-on-year upturn of 4.5%. The producer price index of the industry possessed a quarter-on-quarter increase of 0.68% and a year-on-year rise of 2.95%. The producer price index of the service saw a quarter-on-quarter increase of 2.08% and a year-on-year rise of 4.07%. The input producer price index in the Q1 2026 experienced a quarter-on-quarter expansion of 1.44% and a year-on-year surge of 4.76%. The merchandise export price index recorded a quarter-on-quarter increase of 0.31% and a year-on-year decrease of 0.18%. The merchandise import price index gained a quarter-on-quarter jump of 0.63% and year-on-year downturn of 1.42%.

11. Social issues

a) Labor and employment

The labor and employment performance 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 and job quality. 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 percentage of trained workers with diplomas/certificates in the Q1 2026 was 29.6%, a quarter-on-quarter increase of 0.1 percentage points and a year-on-year rise of 0.8 percentage points.

The employed persons in Q1 2026 were estimated at 52.5 million persons, a decrease of 233.4 thousand, equivalent to a drop of 0.4% compared to the previous quarter, and an increase of 656.8 thousand, corresponding to a rise of 1.3% year-on-year.

The underemployment rate at working age in the Q1 2026 was 1.68% (1.27% in urban areas and 1.95% in rural areas); the unemployment rate at working age was 2.21% (2.46% in urban areas and 2.04% in rural areas); and the youth unemployment rate (aged 15-24) in Q1 2026 was 8.86%.

The average monthly income of employees in the Q1 2026 was 9.0 million VND/month, an increase of 329.0 thousand VND compared to the Q4 2025 and a rise of 706 thousand VND over the same period in 2025.

b) People’s living conditions and social security

According to the results of the household living standards survey, the proportion of households reporting increased income in the Q1 2026 compared to the same period in 2025 was 31.8%.

Social security work continued to receive prompt and practical attention and implementation from the central to local levels. According to summary reports from localities, from the beginning of the year (to March 25^th, 2026), the total social security support for all groups reached nearly 25.0 trillion VND, an increase of over 7.0 trillion VND compared to Q1 2025. Details for specific groups were as follows: support for national devotees and martyrs’ relatives reached nearly 12.7 trillion VND; support for social protection beneficiaries under Decree No. 20/2021/ND-CP was nearly 10.4 trillion VND; support for poor households, near-poor households, households in difficult circumstances, and social policy households reached nearly 1.6 trillion VND; sudden and unusual support in localities amounted to nearly 366.2 billion VND. Over 32.6 million health insurance cards/ free medical examination and treatment cards were distributed to beneficiaries.

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[4].

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[5].

c) Epidemic, food hygiene and safety, and food poisoning

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

Regarding food hygiene and safety, the authorities have detected and handled large-scale cases involving the collection, transportation, slaughter, and consumption of diseased pigs in several localities. 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.

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.

d) Culture and sports

In Q1 2026, a wide range of cultural activities and festivals were held nationwide, focusing on traditional and region-specific folk festivals, alongside notable cultural events such as the Pho Festival and the Ao Dai Week, thereby contributing to the preservation and promotion of cultural values.

Mass sports activities were dynamic and widespread, with enthusiastic participation of the public, in connection with celebrations of Viet Nam Sports Day and activities such as the Olympic Run for Public Health.

Elite sports continued to be promoted through numerous domestic and international competitions, in preparation for major events of the sector, while also contributing to the spread of the sporting spirit and enhancing the standing of Vietnamese sports.

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, 2026.

e) Traffic accidents

In Q1 this year, there were 3,926 traffic accidents nationwide, causing 2,407 deaths and 2,352 injuries. On average, in the Q1 2026, there were 44 traffic accidents occurred a day, causing 27 deaths and 26 injuries.

g) Disaster-induced loss

In 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 Q1 2026 were estimated at 159.7 billion VND, increased by 76.2% compared to the same period in 2025.

h) Environmental protection and fire and explosion prevention

In Q1 2026, the authorities detected 5,591 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 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] The corresponding structure for the same period in 2025 was 11.50%, 36.50%, 43.40%, and 8.60%, respectively.

[2] 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).

[3] The preliminary data of export and import of goods in March 2026 were provided by the Viet Nam Customs on April 3^rd 2026.

[4] According to Notice N^o. 36/TB-VPCP dated January 20^th, 2026, issued by the Government Office.

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