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[VI] VIETNAM MACRO AND INDUSTRY REPORT - Mar 2026

January Vietnam economic macro indicators continued to show clearer signs of improvement, particularly in manufacturing and exports. However, underlying risks and the delayed recovery of the domestic private sector (DDI), consumption, and the interest rate environment warrant close monitoring.

18 March 2026

Vietnam economic - March 2026: Maintained solid growth momentum

  • 6 hours ago
  • 1 min read

Vietnam’s economy maintained solid growth momentum, with IIP up +10.36% YoY, manufacturing +11.48% YoY, and PMI at 54.3, indicating improving production and new orders.

Exports reached USD 76.4bn (+18.3% YoY), while imports grew faster (+26.3% YoY), reflecting rising demand for inputs in the new production cycle. Investment remained a key driver, with public investment disbursement and FDI maintaining growth.

However, domestic consumption slowed (real growth ~4.5% YoY – the lowest in four years), while exports remained dependent on the FDI sector and domestic enterprises continued to weaken.

Exchange rate, liquidity and interest rate pressures increased, with rising borrowing costs potentially weighing on investment and consumption. In the near term, risks from higher energy prices, geopolitical tensions and trade policy uncertainty may pose challenges to macro stability and export performance.



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TABLE OF CONTENTS

A. EXECUTIVE SUMMARY

B. KEY DEVELOPMENTS IN THE U.S./ISRAEL–IRAN CONFLICT

C. KEY MARKET INDICATORS TO WATCH

D. SECTOR HIGHLIGHTS – JAN–FEB 2026

E. VIETNAM MACROECONOMIC CONDITIONS

Business performance of enterprises

Domestic production activities

  • Business environment and operating conditions

  • External trade performance

  • Overview

  • Market structure

  • Export developments across selected product groups

  • Bilateral trade between Vietnam and the Middle East

Domestic consumption trends

State budget and investment developments

F. FINANCIAL MARKETS

  • Credit system

  • Government bond market

  • Corporate bond market

  • Stock market

G. SECTORAL ECONOMIC PERFORMANCE

  • Transportation and logistics

  • Tourism

  • Steel

  • Cement

  • Textile and garment

  • Fisheries – Pangasius and shrimp

  • Fertilizers

  • Rubber

  • Agricultural commodities – Rice, cashew, coffee, pepper

H. COMMODITY PRICES AND EXCHANGE RATE MOVEMENTS

  • Exchange rate pairs

  • Prices of selected international and domestic commodities

  • International freight rates




Báo cáo ngành Thép Việt Nam 2026

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