Accelerated Growth and Core Drivers: Vietnam's economy sustained robust growth momentum with a marked acceleration in the first nine months of 2026, as GDP expanded by 9.01%, significantly surpassing the 7.85% growth recorded in the same period of 2025. This economic resilience was particularly pronounced in the third quarter when GDP growth surged to 9.95%. The primary engine driving this expansion was the manufacturing sector, which grew by 11.36%, coupled with the steady expansion of the services sector supported by 17.68 million international visitor arrivals.   

FDI Influx and Trade Balance Reversal: A strategic bright spot emerged from the strong attraction of foreign capital, with registered FDI surging to USD 50.36 billion, a 76.4% year-on-year increase driven by large-scale projects in data centers and logistics. Realized FDI also maintained a steady growth of 12.1%, directly bolstering manufacturing capacity. On the trade front, the dynamic showed positive signals as the trade balance returned to a surplus of USD 1.27 billion in September, setting the stage to narrow the cumulative deficit from earlier in the year.   

Macroeconomic Challenges and Q4 Outlook: Despite sustaining high growth, the economy continues to face persistent macroeconomic pressures. Inflation re-accelerated as the September CPI crossed the 5% threshold for the first time since May, driven primarily by surging fuel prices. Concurrently, credit growth accelerated to 16.69%, heightening funding and liquidity management pressures across the banking system. Heading into the final quarter, the ability of businesses to control input costs, alongside sustaining the trade surplus and maintaining exchange rate stability, will be decisive factors in protecting profit margins and ensuring the sustainability of the growth momentum.