Vietnam's economy surges near 10% growth target as trade rebounds

Vietnam's gross domestic product grew 9.95% in the July-September period compared to the same quarter last year, substantially exceeding the median economist forecast of 8.65%. The robust expansion brings the economy close to policymakers' full-year growth target and underscores the strength of the recovery from earlier pandemic-related disruptions.

The third-quarter performance reflects broad-based economic momentum across Vietnam's key sectors. Manufacturing activity has regained momentum while domestic consumption continues to support growth, contributing to the economy's trajectory toward double-digit expansion.

A return to trade surplus provides additional relief for Vietnam's external position. The improvement in the trade balance signals growing competitiveness in international markets and suggests improving conditions for the nation's export-dependent economy, which has faced headwinds from global supply chain disruptions and shifting trade patterns.

The strong quarterly result positions Vietnam among Asia's faster-growing economies and highlights its status as a beneficiary of shifting manufacturing trends in the region. Continued momentum in the coming quarters could help the country achieve or exceed its ambitious full-year growth objectives.