Vietnam economic - March 2026: Maintained solid growth momentum

Mar 18
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