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Vietnam Q1 growth slows as costlier Middle East energy tests 2026 target
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Summary
Click here to return to FAST Tap here to return to FAST FAST HANOI, April 4 : Vietnam's economy slowed in the first quarter from the three months prior, data showed on Saturday, as heavy exposure to Middle Eastern oil imports boosted inflation, presenting a challenge in reaching an annual growth target, authorities said. Gross domestic product grew 7.83 per cent in the quarter from January to March over the corresponding period a year earlier, but below 8.46 per cent in the fourth quarter, the National Statistics Office said in a report. "The pressure from rising input costs and energy prices on inflation remains, posing challenges for economic governance," the NSO added on Saturday. CNA Games Guess Word Crack the word, one row at a time Buzzword Create words using the given letters Mini Sudoku Tiny puzzle, mighty brain teaser Mini Crossword Small grid, big challenge Word Search Spot as many words as you can Show More Show Less This year's growth target of at least 10 per cent is under pressure as the Southeast Asian economy imports more than 80 per cent of crude oil supplies from the Middle East, where the Iran war, now in its sixth week, has disrupted shipments. "Entering the second quarter, Vietnam's socio-economic situation continues to face obstacles, and meeting the 2026 growth target remains a big challenge," said NSO Director Nguyen Thi Huong. Vietnam will retain its target of 10 per cent growth this year despite challenges, Prime Minister Pham Minh Chinh said on Saturday, promising steps such as greater public investment and diversification of export markets and supply chains. "Our country still faces limitations, shortcomings, and many difficulties, challenges and risks related to the pressure of macroeconomic management and ensuring energy security," Chinh told a cabinet meeting.
## Summary
Click here to return to FAST Tap here to return to FAST FAST HANOI, April 4 : Vietnam's economy slowed in the first quarter from the three months prior, data showed on Saturday, as heavy exposure to Middle Eastern oil imports boosted inflation, presenting a challenge in reaching an annual growth target, authorities said. Gross domestic product grew 7.83 per cent in the quarter from January to March over the corresponding period a year earlier, but below 8.46 per cent in the fourth quarter, the National Statistics Office said in a report. "The pressure from rising input costs and energy prices on inflation remains, posing challenges for economic governance," the NSO added on Saturday. CNA Games Guess Word Crack the word, one row at a time Buzzword Create words using the given letters Mini Sudoku Tiny puzzle, mighty brain teaser Mini Crossword Small grid, big challenge Word Search Spot as many words as you can Show More Show Less This year's growth target of at least 10 per cent is under pressure as the Southeast Asian economy imports more than 80 per cent of crude oil supplies from the Middle East, where the Iran war, now in its sixth week, has disrupted shipments. "Entering the second quarter, Vietnam's socio-economic situation continues to face obstacles, and meeting the 2026 growth target remains a big challenge," said NSO Director Nguyen Thi Huong. Vietnam will retain its target of 10 per cent growth this year despite challenges, Prime Minister Pham Minh Chinh said on Saturday, promising steps such as greater public investment and diversification of export markets and supply chains. "Our country still faces limitations, shortcomings, and many difficulties, challenges and risks related to the pressure of macroeconomic management and ensuring energy security," Chinh told a cabinet meeting.
## Article Content
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Vietnam Q1 growth slows as costlier Middle East energy tests 2026 target
FILE PHOTO: Labourers work at Hung Viet garment export factory in Hung Yen province, Vietnam December 30, 2020. REUTERS/Kham/File Photo
A container is loaded onto a cargo ship while docked at Hai Phong port, after U.S. President Donald Trump announced a 90-day pause on tariffs for many countries, in Hai Phong, Vietnam, April 16, 2025. REUTERS/Athit Perawongmetha
04 Apr 2026 09:51AM
(Updated: 04 Apr 2026 10:48AM)
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HANOI, April 4 : Vietnam's economy slowed in the first quarter from the three months prior, data showed on Saturday, as heavy exposure to Middle Eastern oil imports boosted inflation, presenting a challenge in reaching an annual growth target, authorities said.
Gross domestic product grew 7.83 per cent in the quarter from January to March over the corresponding period a year earlier, but below 8.46 per cent in the fourth quarter, the National Statistics Office said in a report.
"The pressure from rising input costs and energy prices on inflation remains, posing challenges for economic governance," the NSO added on Saturday.
Consumer prices rose 4.65 per cent in March on the year, driven by a surge of 10.81 per cent in transport costs, it said, accelerating from a rise of 3.35 per cent in February.
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Guess Word
Crack the word, one row at a time
Buzzword
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Mini Sudoku
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This year's growth target of at least 10 per cent is under pressure as the Southeast Asian economy imports more than 80 per cent of crude oil supplies from the Middle East, where the Iran war, now in its sixth week, has disrupted shipments.
"Entering the second quarter, Vietnam's socio-economic situation continues to face obstacles, and meeting the 2026 growth target remains a big challenge," said NSO Director Nguyen Thi Huong.
Rising fuel prices have spurred Vietnamese airlines to scale back operations and government efforts to cut costs, such as reducing taxes on fuel, subsidising prices and encouraging remote work to reduce consumption.
Growth was up from the 7.05 per cent on-year expansion of the first quarter of 2025.
Exports rose 20.1 per cent in March to $46.44 billion from a year earlier, the report said. March industrial production rose 6.9 per cent from a year earlier, but slowed from growth of 8.6 per cent in the corresponding month last year.
The war has driven up gasoline prices 21 per cent and diesel prices by 84 per cent in Vietnam, data from top fuel trader Petrolimex shows.
Senior officials have sought alternative oil sources from suppliers such as Gulf states, Japan and South Korea.
Vietnam's March imports rose 27.8 per cent to $47.11 billion, for a monthly trade deficit of $670 million.
For the first quarter, exports rose 19.1 per cent to $122.93 billion and imports were up 27.0 per cent at $126.57 billion, for a deficit of $3.64 billion.
Quarterly retail sales rose 10.9 per cent.
Foreign investment inflows in the first quarter rose 9.1 per cent on the year to $5.41 billion, the NSO said, while pledges, which indicate the size of future inflows, rose 42.9 per cent to $15.2 billion.
Vietnam will retain its target of 10 per cent growth this year despite challenges, Prime Minister Pham Minh Chinh said on Saturday, promising steps such as greater public investment and diversification of export markets and supply chains.
"Our country still faces limitations, shortcomings, and many difficulties, challenges and risks related to the pressure of macroeconomic management and ensuring energy security," Chinh told a cabinet meeting.
Source: Reuters
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## Expert Analysis
### Merits
- Vietnam will retain its target of 10 per cent growth this year despite challenges, Prime Minister Pham Minh Chinh said on Saturday, promising steps such as greater public investment and diversification of export markets and supply chains. "Our country still faces limitations, shortcomings, and many difficulties, challenges and risks related to the pressure of macroeconomic management and ensuring energy security," Chinh told a cabinet meeting.
### Areas for Consideration
- Click here to return to FAST Tap here to return to FAST FAST HANOI, April 4 : Vietnam's economy slowed in the first quarter from the three months prior, data showed on Saturday, as heavy exposure to Middle Eastern oil imports boosted inflation, presenting a challenge in reaching an annual growth target, authorities said.
- CNA Games Guess Word Crack the word, one row at a time Buzzword Create words using the given letters Mini Sudoku Tiny puzzle, mighty brain teaser Mini Crossword Small grid, big challenge Word Search Spot as many words as you can Show More Show Less This year's growth target of at least 10 per cent is under pressure as the Southeast Asian economy imports more than 80 per cent of crude oil supplies from the Middle East, where the Iran war, now in its sixth week, has disrupted shipments. "Entering the second quarter, Vietnam's socio-economic situation continues to face obstacles, and meeting the 2026 growth target remains a big challenge," said NSO Director Nguyen Thi Huong.
### Implications
- Foreign investment inflows in the first quarter rose 9.1 per cent on the year to $5.41 billion, the NSO said, while pledges, which indicate the size of future inflows, rose 42.9 per cent to $15.2 billion.
- Vietnam will retain its target of 10 per cent growth this year despite challenges, Prime Minister Pham Minh Chinh said on Saturday, promising steps such as greater public investment and diversification of export markets and supply chains. "Our country still faces limitations, shortcomings, and many difficulties, challenges and risks related to the pressure of macroeconomic management and ensuring energy security," Chinh told a cabinet meeting.
### Expert Commentary
This article covers per, cent, vietnam topics. Notable strengths include discussion of per. Areas of concern are also raised. Readability: Flesch-Kincaid grade 0.0. Word count: 809.
Click here to return to FAST Tap here to return to FAST FAST HANOI, April 4 : Vietnam's economy slowed in the first quarter from the three months prior, data showed on Saturday, as heavy exposure to Middle Eastern oil imports boosted inflation, presenting a challenge in reaching an annual growth target, authorities said. Gross domestic product grew 7.83 per cent in the quarter from January to March over the corresponding period a year earlier, but below 8.46 per cent in the fourth quarter, the National Statistics Office said in a report. "The pressure from rising input costs and energy prices on inflation remains, posing challenges for economic governance," the NSO added on Saturday. CNA Games Guess Word Crack the word, one row at a time Buzzword Create words using the given letters Mini Sudoku Tiny puzzle, mighty brain teaser Mini Crossword Small grid, big challenge Word Search Spot as many words as you can Show More Show Less This year's growth target of at least 10 per cent is under pressure as the Southeast Asian economy imports more than 80 per cent of crude oil supplies from the Middle East, where the Iran war, now in its sixth week, has disrupted shipments. "Entering the second quarter, Vietnam's socio-economic situation continues to face obstacles, and meeting the 2026 growth target remains a big challenge," said NSO Director Nguyen Thi Huong. Vietnam will retain its target of 10 per cent growth this year despite challenges, Prime Minister Pham Minh Chinh said on Saturday, promising steps such as greater public investment and diversification of export markets and supply chains. "Our country still faces limitations, shortcomings, and many difficulties, challenges and risks related to the pressure of macroeconomic management and ensuring energy security," Chinh told a cabinet meeting.
## Article Content
Advertisement
Business
Vietnam Q1 growth slows as costlier Middle East energy tests 2026 target
FILE PHOTO: Labourers work at Hung Viet garment export factory in Hung Yen province, Vietnam December 30, 2020. REUTERS/Kham/File Photo
A container is loaded onto a cargo ship while docked at Hai Phong port, after U.S. President Donald Trump announced a 90-day pause on tariffs for many countries, in Hai Phong, Vietnam, April 16, 2025. REUTERS/Athit Perawongmetha
04 Apr 2026 09:51AM
(Updated: 04 Apr 2026 10:48AM)
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Bookmark
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Set CNA as your preferred source on Google
Add CNA as a trusted source to help Google better understand and surface our content in search results.
Read a summary of this article on FAST.
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Click here to return to FAST
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FAST
HANOI, April 4 : Vietnam's economy slowed in the first quarter from the three months prior, data showed on Saturday, as heavy exposure to Middle Eastern oil imports boosted inflation, presenting a challenge in reaching an annual growth target, authorities said.
Gross domestic product grew 7.83 per cent in the quarter from January to March over the corresponding period a year earlier, but below 8.46 per cent in the fourth quarter, the National Statistics Office said in a report.
"The pressure from rising input costs and energy prices on inflation remains, posing challenges for economic governance," the NSO added on Saturday.
Consumer prices rose 4.65 per cent in March on the year, driven by a surge of 10.81 per cent in transport costs, it said, accelerating from a rise of 3.35 per cent in February.
CNA Games
Guess Word
Crack the word, one row at a time
Buzzword
Create words using the given letters
Mini Sudoku
Tiny puzzle, mighty brain teaser
Mini Crossword
Small grid, big challenge
Word Search
Spot as many words as you can
Show More
Show Less
This year's growth target of at least 10 per cent is under pressure as the Southeast Asian economy imports more than 80 per cent of crude oil supplies from the Middle East, where the Iran war, now in its sixth week, has disrupted shipments.
"Entering the second quarter, Vietnam's socio-economic situation continues to face obstacles, and meeting the 2026 growth target remains a big challenge," said NSO Director Nguyen Thi Huong.
Rising fuel prices have spurred Vietnamese airlines to scale back operations and government efforts to cut costs, such as reducing taxes on fuel, subsidising prices and encouraging remote work to reduce consumption.
Growth was up from the 7.05 per cent on-year expansion of the first quarter of 2025.
Exports rose 20.1 per cent in March to $46.44 billion from a year earlier, the report said. March industrial production rose 6.9 per cent from a year earlier, but slowed from growth of 8.6 per cent in the corresponding month last year.
The war has driven up gasoline prices 21 per cent and diesel prices by 84 per cent in Vietnam, data from top fuel trader Petrolimex shows.
Senior officials have sought alternative oil sources from suppliers such as Gulf states, Japan and South Korea.
Vietnam's March imports rose 27.8 per cent to $47.11 billion, for a monthly trade deficit of $670 million.
For the first quarter, exports rose 19.1 per cent to $122.93 billion and imports were up 27.0 per cent at $126.57 billion, for a deficit of $3.64 billion.
Quarterly retail sales rose 10.9 per cent.
Foreign investment inflows in the first quarter rose 9.1 per cent on the year to $5.41 billion, the NSO said, while pledges, which indicate the size of future inflows, rose 42.9 per cent to $15.2 billion.
Vietnam will retain its target of 10 per cent growth this year despite challenges, Prime Minister Pham Minh Chinh said on Saturday, promising steps such as greater public investment and diversification of export markets and supply chains.
"Our country still faces limitations, shortcomings, and many difficulties, challenges and risks related to the pressure of macroeconomic management and ensuring energy security," Chinh told a cabinet meeting.
Source: Reuters
Newsletter
Week in Review
Subscribe to our Chief Editor’s Week in Review
Our chief editor shares analysis and picks of the week's biggest news every Saturday.
Sign up for our newsletters
Get our pick of top stories and thought-provoking articles in your inbox
Subscribe here
Get the CNA app
Stay updated with notifications for breaking news and our best stories
Download here
Get WhatsApp alerts
Join our channel for the top reads for the day on your preferred chat app
Join here
Advertisement
Also worth reading
Content is loading...
Advertisement
Expand to read the full story
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST
Tap here to return to FAST
FAST
---
## Expert Analysis
### Merits
- Vietnam will retain its target of 10 per cent growth this year despite challenges, Prime Minister Pham Minh Chinh said on Saturday, promising steps such as greater public investment and diversification of export markets and supply chains. "Our country still faces limitations, shortcomings, and many difficulties, challenges and risks related to the pressure of macroeconomic management and ensuring energy security," Chinh told a cabinet meeting.
### Areas for Consideration
- Click here to return to FAST Tap here to return to FAST FAST HANOI, April 4 : Vietnam's economy slowed in the first quarter from the three months prior, data showed on Saturday, as heavy exposure to Middle Eastern oil imports boosted inflation, presenting a challenge in reaching an annual growth target, authorities said.
- CNA Games Guess Word Crack the word, one row at a time Buzzword Create words using the given letters Mini Sudoku Tiny puzzle, mighty brain teaser Mini Crossword Small grid, big challenge Word Search Spot as many words as you can Show More Show Less This year's growth target of at least 10 per cent is under pressure as the Southeast Asian economy imports more than 80 per cent of crude oil supplies from the Middle East, where the Iran war, now in its sixth week, has disrupted shipments. "Entering the second quarter, Vietnam's socio-economic situation continues to face obstacles, and meeting the 2026 growth target remains a big challenge," said NSO Director Nguyen Thi Huong.
### Implications
- Foreign investment inflows in the first quarter rose 9.1 per cent on the year to $5.41 billion, the NSO said, while pledges, which indicate the size of future inflows, rose 42.9 per cent to $15.2 billion.
- Vietnam will retain its target of 10 per cent growth this year despite challenges, Prime Minister Pham Minh Chinh said on Saturday, promising steps such as greater public investment and diversification of export markets and supply chains. "Our country still faces limitations, shortcomings, and many difficulties, challenges and risks related to the pressure of macroeconomic management and ensuring energy security," Chinh told a cabinet meeting.
### Expert Commentary
This article covers per, cent, vietnam topics. Notable strengths include discussion of per. Areas of concern are also raised. Readability: Flesch-Kincaid grade 0.0. Word count: 809.
per
cent
vietnam
rose
growth
fast
quarter
billion
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