Vietnam Q1 Growth Slows to 7.83 Percent as Energy Costs Rise

Vietnam's economic expansion slowed during the first quarter of 2026 as surging energy costs and Middle Eastern geopolitical tensions challenged the nation's annual growth objectives. According to the National Statistics Office (NSO), gross domestic product (GDP) expanded by 7.83% year-on-year in the January-to-March period, a decrease from the 8.46% growth recorded in the final quarter of 2025.

The NSO reported that rising input costs and energy prices, particularly for Brent Crude Oil, continue to pose significant hurdles for economic management. Consumer prices in March rose 4.65% compared to the previous year, driven largely by a 10.81% jump in transportation costs. This inflationary pressure is exacerbated by the country's reliance on external energy, as it imports over 80% of its crude oil from the Middle East.