AsemconnectVietnam - In February, Vietnam’s annual inflation, retail sale, industrial production increased while the trade deficit narrowed.

Vietnam’s annual inflation rate rose to 3.35% in February
Vietnam’s annual inflation rate rose to 3.35% in February of 2026, up from 2.53% in the previous month, which was the lowest since July 2023. Costs increased for food and foodstuff services (5.28% vs 3.64% in January), household equipment and goods (2.23% vs 1.71%), clothing, hats, and footwear (1.87% vs 1.21%), education (3.21% vs 3.14%), culture, entertainment and tourism (2.31% vs 1.11%), beverages and tobacco (3.03% vs 1.95%), and other goods and services (4.10% vs 2.94%). At the same time, inflation held steady for housing electricity, water, fuel and building materials (5.60%), while deflation eased in transportation (-3.19% vs -3.76%) and information and communication (-0.24% vs -0.28%). Meanwhile, price growth slowed for medicines and medical services (0.74% vs 0.92%). On a monthly basis, consumer prices increased by 1.14% in February, accelerating from 0.05% in January. The core inflation rate also rose to 3.74% from 3.19% in January
Vietnam retail sales growth slowed in February
Retail sales in Vietnam rose by 8.5% year-on-year in February of 2026, easing from a 9.3% increase in the previous month. This marked the softest growth since November of 2025, as retail of goods, which accounts for 76.4% of overall retail sales, expanded 8.8%, slowing from 9.3% in January. Additionally, sales growth moderated for travel and tourism (13.8% vs 14%) and other services (4.4% vs 8.9%). On the other hand, activity continued to grow for accommodation and food services, rising 9.7% from 9.4% in the prior month. On a monthly basis, retail activity dropped by 1.5% in February, reversing a 2.6% gain in the preceding period. Considering the first two months of the year, retail sales were 7.9% higher compared to the same period a year ago.
Vietnam industrial output increased in February
Vietnam’s industrial production edged up 1.0% yoy in February of 2026, slowing sharply from a downwardly revised 19.4% surge in the previous month and marking the weakest growth since January of 2025. The slowdown largely reflected reduced activity during the Lunar New Year holiday, which typically disrupts manufacturing operations. Output growth in the key manufacturing sector eased sharply (2.3% vs 23.6% in January). Meanwhile, production contracted across several other sectors, including mining and quarrying (-5.3% vs 15.8%%), electricity and gas supply (-4.5% vs 16.7%), and water supply, waste management, and wastewater treatment (-5.6% vs 10.6%). On a monthly basis, industrial output dropped 18.4%. Despite the February slowdown, industrial production in the first two months of 2026 still increased 10.4% compared with the same period a year earlier.
Vietnam trade deficit narrowed in February
Vietnam's trade deficit narrowed to USD 1.04 billion in February of 2026 from USD 1.58 billion in the same month last year. Exports rose 5.7% year-on-year to USD 33.06 billion, driven by higher sales of crude oil (up 11.1%) and other products (up 17%). Meanwhile, imports increased at a softer pace of 4.4% to USD 34.1 billion, with purchases rising for corn (145.4%), soybeans (68%), and liquefied petroleum gas (174.3%). For the first two months of 2026, Vietnam’s trade balance showed a deficit of USD 2.98 billion, with the domestic sector in deficit by USD 6.5 billion, while the foreign-invested sector posted a surplus of USD 3.52 billion. Processed industrial goods accounted for USD 68.55 billion, or 89.8% of total exports in the period, whereas imports of production materials totaled USD 74.67 billion, representing 94.1% of total imports. The US remained Vietnam’s largest export market at USD 23.8 billion, while China was the top import source at USD 31.9 billion.
Vietnam tourist arrivals rose 17.7% year-on-year in February
International arrivals to Vietnam rose 18.5% year-on-year to 2.23 million in February of 2026, following an 18.5% increase in the previous month. New visa policies, innovative promotion and marketing, broader product offerings, and enhanced service quality helped attract international visitors. Arrivals from Asia increased by 7.9%, led by China (21.6%), South Korea (2.9%), and Cambodia (29.3%), with particularly strong growth also recorded from the Philippines (68.4%), India (62.2%), and Singapore (18.2%). Visitors from the Americas also rose by 21.3%, particularly from the US (20.9%) and Canada (22.9%). In Europe, arrivals surged by 76.7%, with notable increases from Russia (232.9%), the UK (12.1%), France (15.3%), and Germany (17.1%). Tourists from Australia went up by 18%, while arrivals from Africa rose by 16.3%. On a monthly basis, arrivals fell by 9.2%. For the first two months of the year, total tourist arrivals gained 18.1% to 4.68 million.
CK
Nguồn: VITIC/congthuong.vn