Vietnam’s growth hits 9.95pc, fastest in four years, as exports jump 24.5pc

Vietnam's economy experienced a remarkable surge in the July-September quarter, with growth accelerating to an impressive 9.95% from 8.81% in the previous period, marking the fastest pace in four years, according to government figures. The nation has consistently been a shining example of Asian economic success, with its communist regime aiming for double-digit expansion over the next five years.

In the first nine months of 2026, growth reached 9.01%, the fastest for that period in 15 years, as reported by the National Statistics Office. Exports enjoyed a significant boost, rising by 24.5% year-on-year, while imports climbed 36.7% during the same period. Despite the imposition of new tariffs by its largest export market, the United States, Vietnam managed to achieve an 8% annual growth rate last year, placing it among the top global growth performers.

The Asian Development Bank recently revised its forecast for Vietnam's 2026 annual gross domestic product (GDP) growth upward to 7.8%, from 7.2% previously forecasted in July. The upgrade was attributed to the continued expansion in manufacturing, robust domestic consumption, and sustained foreign direct investment. However, the bank cautioned that weaker global demand and geopolitical uncertainty could potentially hinder growth.

In September, FTSE Russell upgraded Vietnam's stock market to secondary emerging market status, further highlighting the country's impressive economic trajectory.