HANOI: Vietnam’s gross domestic product (GDP) grew 9.95% in the third quarter (3Q26) from a year earlier, the fastest quarterly growth since the Covid-19 pandemic, and accelerating from a revised expansion of 8.81% in the 2Q26, government data showed last Saturday.
Growth in the July to September quarter was driven by strong exports and robust investment in infrastructure, but remains short of the country’s full-year growth target of above 10%.
The export-reliant economy has faced rising import costs this year due to the Iran war, with the trade deficit in the first nine months of this year hitting a record high.
Exports of goods in September increased 39.1% from a year earlier to US$59.48bil, while imports rose 45.8% to US$58.21bil, resulting in a trade surplus of US$1.27bil for the month, the National Statistics Office (NSO) said in a report.
For the first nine months of this year, exports rose 24.5% to US$434.3bil, while imports were up 36.7% to US$453.72bil, translating into a trade deficit of US$19.42bil, a record high.
Higher prices for energy imports were partly to blame for the widening trade deficit. Imports of crude oil in the period fell 13.5% in volume, but were up 14.4% in value, according to the report. Imports of refined fuels rose 11.5% in volume but were up 79.3% in value.
Consumer prices in September rose 5.08% from a year earlier, the NSO said. Industrial production in September increased 16.7% year-on-year, it added. — Reuters
