 |
| A new urban project is under construction in Nam Nha Trang ward, Khanh Hoa province__Photo: VNA |
Vietnam’s gross domestic product (GDP) in the third quarter of 2026 was estimated to expand 9.95 per cent year-on-year, higher than the growth rates of 8.15 per cent in the first quarter and 8.81 per cent in the second, Director of the National Statistics Office under the Ministry of Finance Nguyen Thi Huong said at a press conference on October 3.
Huong said that despite complex developments in the global situation, Vietnam’s socio-economic performance in the third quarter and first nine months continued to deliver positive and important results across most sectors.
Agriculture, forestry and fisheries grew 4.21 per cent, contributing 5.14 per cent to the overall increase in gross value added; industry and construction rose 12.50 per cent, contributing 51.57 per cent; and services expanded 9.54 per cent, contributing 43.29 per cent.
On the expenditure side, final consumption in Q3 increased 8.96 per cent year-on-year, gross capital formation 21.39 per cent, exports of goods and services 23.27 per cent, and imports 28.75 per cent.
In the first nine months, GDP was estimated to increase 9.01 per cent from the same period last year. Agriculture, forestry and fisheries grew 4.02 per cent, contributing 5.35 per cent to overall gross value added growth; industry and construction rose 11.21 per cent, contributing 49.62 per cent; and services expanded 8.69 per cent, contributing 45.03 per cent.
In the economic structure, agriculture, forestry and fisheries accounted for 10.65 per cent of GDP in the first nine months; industry and construction 38.35 per cent; services 42.97 per cent; and taxes less subsidies on products 8.03 per cent. In terms of GDP use, final consumption rose 8.51 per cent year-on-year; gross capital formation expanded 17.88 per cent; while exports of goods and services increased 21.29 per cent, and imports 27.19 per cent.
Regarding local GRDP, 12 of the 34 localities recorded growth of at least 10 per cent in the first nine months. Quang Ninh led with 12.54 per cent, followed by Ha Tinh 12.36 per cent, Hai Phong 12.08 per cent, Bac Ninh 11.81 per cent and Ninh Binh 11.31 per cent.
Localities with lower GRDP growth included Son La at 5.59 per cent, Vinh Long 7.32 per cent, Ca Mau 7.37 per cent and Dong Thap 7.44 per cent, mainly due to declines in electricity output and the relatively large share of agriculture in their economic structures.
Overall, high growth was concentrated mainly in localities with strong industrial foundations and large-scale processing and manufacturing sectors, supported by investment, exports and expanding services, thereby contributing positively to national economic growth.
Huong attributed the positive Q3 and nine-month results to the involvement of the entire political system under the leadership of the Party Central Committee and its Politburo and Secretariat, as well as the Government’s and Prime Minister’s timely, flexible and effective direction and management.
She said ministries, sectors and localities had synchronously implemented key tasks and measures to promote economic growth and strive to achieve double-digit growth in 2026.
The completion and operation of the two-tier local administration model had also helped expand development space, strengthen regional connectivity and improve the effectiveness of State management, while promoting decentralisation, administrative reform and more efficient mobilisation and use of development resources, she added.- (VNA/VLLF)
