AsemconnectVietnam - In April of 2026, several economic indexes of Vietnam saw increase, such as industrial output, inflation, trade gap, FDI, retail sale and tourist arrivals.

Meanwhile, manufacturing PMI fell .
Vietnam industrial output increased
Vietnam’s industrial production rose 9.9% year-on-year in April 2026, accelerating from an upwardly revised 7.2% growth in the previous month and marking the fastest pace since January. Output quickened across most sectors, led by mining and quarrying (7.6% vs 2.1% in March), manufacturing (10.0% vs 7.9%), and electricity and gas supply (10.9% vs 4.6%). In contrast, growth in water supply, waste management, and wastewater treatment eased (7.1% vs 11.2%).On a monthly basis, industrial output increased 3.0%. For the first four months of the year, industrial production gained 9.2% from the same period in 2025.
Vietnam manufacturing PMI fell
The S&P Global Vietnam Manufacturing PMI fell to 50.5 in April 2026 from 51.2 in the previous month, marking the lowest reading since September 2025. Output extended its expansion for a twelfth consecutive month, but growth slowed to its slowest rate since June 2025. Moreover, new orders contracted for the first time in eight months, with new export sales falling more sharply as elevated transportation costs weighed on international sales. The subdued demand was largely attributed to intensifying inflationary pressures, driven by rising fuel and oil prices, persistent supply chain disruptions, and heightened market uncertainty linked to the Middle East conflict. Input prices rose at their fastest pace in fifteen years, while output costs quickened to its steepest rise since April 2011. Finally, sentiment slipped to a seven-month low and fell below the long-term average, as firms expressed growing concern over the economic fallout from geopolitical instability.
FDI into Vietnam increased
Foreign direct investment (FDI) disbursed in Vietnam grew 9.8% year-on-year to USD 7.40 billion in January–April 2026, marking the highest amount of FDI implemented in the first four months of the year in the past five years. The processing and manufacturing industry reached USD 6.12 billion, accounting for 82.7% of total FDI implemented, followed by real estate activities at USD 540.5 million (7.3%), and electricity, gas, hot water, steam, and air conditioning production and distribution at USD 270.6 million (3.7%). Newly registered FDI reached USD 12.15 billion across 1,249 projects, up 3.7% in the number of projects and 2.2 times in registered capital compared to the same period last year. Manufacturing led with 66.8% of new capital, followed by utilities (19.0%) and other sectors (14.2%). By country, Singapore led with USD 6.05 billion (49.8% of the total newly registered capital), followed by South Korea (33.6%) and China (4.3%).
Vietnam posts largest trade gap in April
Vietnam posted a trade deficit of USD 3.28 billion in April 2026, shifting from a surplus of USD 0.90 billion in the same month a year earlier. It marked the largest trade gap since December 1996, as imports rose faster than exports. Exports rose 21% from a year earlier to USD 45.52 billion, while imports grew faster at 32.5% to a record high of USD 48.8 billion. For the first four months of the year, the country recorded a USD 7.11 billion trade deficit, with exports rising 19.7% year-on-year to USD 168.53 billion, and imports advancing 28.7% to USD 175.64 billion. During the period, processed industrial goods were estimated at USD 151.5 billion, accounting for 89.9% of total exports. The US remained the largest export market, with an estimated value of USD 53.9 billion. Meanwhile, production materials were estimated at USD 165.37 billion, accounting for 94.2% of total imports. China remained the largest import market.
Vietnam inflation rate reached the highest since 2020
Vietnam’s annual inflation rate accelerated to 5.46% in April 2026 from 4.65% in March, marking the highest level since January 2020, driven by higher domestic gas prices in line with rising global oil prices. Upward price pressures were broad-based across most components, including food (5.20% vs 4.72% in March); beverages and tobacco (4.21% vs 3.44%); clothing, hats, and footwear (2.29% vs 1.82%); housing, electricity, water, fuel, and building materials (7.95% vs 5.88%); household equipment and goods (3.14% vs 2.44%); healthcare (1.11% vs 1.00%); transport (11.08% vs 10.81%); education (3.37% vs 3.30%); culture, entertainment, and tourism (2.71% vs 2.07%); and other goods and services (4.52% vs 4.01%). Meanwhile, the cost of communication rebounded (0.24% vs -0.07%). Core inflation rose to 4.66% in April from 3.96% previously. Core inflation accelerated to 4.66% in April, marking the fastest pace since March 2023. Monthly, CPI rose 0.84%, easing from a 1.23% rise in March.
Vietnam retail sales increased
Retail sales in Vietnam rose 12.1% year-on-year in April 2026, matching March’s pace and remaining at the strongest growth since March 2023. Gains were broad-based across all components: retail goods eased slightly (12.2% vs 12.4% in March), accommodation and food services accelerated (14.1% vs 13.9%), tourism-related activities remained solid despite moderating (6.5% vs 11.5%), and other services picked up (9.4% vs 7.6%). For the first four months of the year, retail trade expanded 11.1% compared with the same period in 2025.
Vietnam tourist arrivals increased
International arrivals to Vietnam jumped 22.8% year-on-year to 2.03 million in April 2026, sharply building up from a 1.3% increase in the previous month. Visitors from Asia rose 17.8%, supported by strong increases from China (22.1%), Japan (18.3%), Taiwan (7.0%), Malaysia (22.7%), Thailand (13.5%), and Singapore (28.6%). Arrivals from the U.S. climbed 27.8%, while those from Europe surged 46.1%, led by Russia (228.2%), alongside gains from the UK (6.1%), France (9.2%), and Germany (7.1%). Visitors from Australia increased 23.1%, and those from Africa edged up 6.0%. For the first four months of the year, international arrivals expanded 14.6% year-on-year to 8.79 million.
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Source: VITIC/tradingeconomics.com