Q3 2022 GDP growth hit a record high. According to the General Statistics Office of Vietnam (GSO), Vietnam’s GDP surged 13.67% YoY in Q3 2022, bringing GDP growth in 9M 2022 to 8.83% — the highest 9M growth rate in the 2011 – 2022 period. Q3 2022’s record high growth was mainly driven by the solid recovery of the economy and the low base of Q3 2021. 

The services sector continued to recover robustly with 18.9% YoY growth in Q3 2022, which brought 9M 2022 growth to 10.6% YoY and contributed 54.2% to overall GDP growth in 9M 2022. Meanwhile, the industry & construction sector grew 12.9% in Q3 and 9.4% in 9M 2022— contributing 41.8% to overall GDP growth in 9M 2022 — with the manufacturing subsector as the main driver as it increased 13% YoY in Q3 and 10.7% in 9M 2022. Additionally, the agriculture, forestry & fishery sector advanced 3.2% in Q3 and 3.0% in 9M 2022, contributing 4.0% to overall GDP growth. 

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