Vietnam's economy accelerates to near double-digit growth in third quarter

Vietnam's economy demonstrated sustained strength in the opening three quarters of the year, with year-on-year GDP growth reaching 9.01%, according to official data. The third-quarter performance, which accelerated to 9.95%, reflected broad-based expansion across the nation's economic sectors.

Industry and construction emerged as the primary growth driver, expanding 11.21% and contributing nearly half of the economy's overall value-added growth at 49.62%. The services sector, which encompasses tourism, trade, and financial services, grew 8.69% and accounted for 45.03% of gross value-added expansion. Agriculture, forestry and fisheries, while growing at a more modest 4.02%, contributed 5.35% to aggregate growth.

Looking ahead, Vietnamese authorities have set ambitious targets for the coming decade. Tourism is projected to comprise 12% of GDP by 2030, while the green economy is targeted to reach 10% of GDP during the 2026-2030 period. International financial institutions have also expressed confidence in Vietnam's prospects, with Standard Chartered raising its 2026 GDP growth forecast to 9.5%, reflecting expectations of sustained economic expansion.