Business

Hanoi’s GRDP up 7.87% in Q1

Hanoi’s gross regional domestic product (GRDP) in the first quarter of 2026 is estimated to have grown by 7.87% year-on-year, one of the highest rates in recent years, according to the municipal Statistics Office.

Panoramic view of Hoan Kiem Lake from above (Photo: VNA)
Panoramic view of Hoan Kiem Lake from above (Photo: VNA)

Hanoi (VNA) – Hanoi’s gross regional domestic product (GRDP) in the first quarter of 2026 is estimated to have grown by 7.87% year-on-year, one of the highest rates in recent years, according to the municipal Statistics Office.

The agro-forestry-fishery sector expanded by 3.73% in the reviewed period, contributing 0.09 percentage points to overall growth.

The industry and construction sector rose by 7.55%, contributing 1.33 percentage points. Industrial production maintained positive momentum from the start of the year, with enterprises resuming operations quickly after the Lunar New Year (Tet) holiday to fulfil domestic and export orders.

The industrial sector’s added value increased by 7.52%, contributing 0.97 percentage points to GRDP growth. Of this, manufacturing and processing grew by 7.08%; electricity production and distribution surged by 15.85%; and water supply, waste and wastewater treatment rose by 7.98%.

Meanwhile, the construction sector expanded by 7.62% year-on-year, contributing 0.36 percentage points. The city has accelerated the implementation of its 2026 public investment plan, focusing on key infrastructure and transport projects to drive growth. Public investment disbursement and site clearance have helped attract private investment along major transport corridors, forming an important short-term growth driver.

As of March 31, development investment expenditure had reached about 24 trillion VND (911 million USD), equivalent to 19.07% of the annual plan, triple the figure recorded in the same period last year.

The service sector posted strong growth of 8.21%, contributing 5.74 percentage points, the largest share to overall expansion. Authorities and businesses have stepped up measures to stimulate consumption, while retail systems and e-commerce platforms launched promotions and incentives to boost demand.

Taxes less subsidies on products increased by 7.12%, contributing 0.71 percentage points.

In Q1, the GRDP structure saw agriculture, forestry and fisheries accounting for 2.16%; industry and construction 17.77%; services 70.07%; and taxes less subsidies on products 10%. The respective figures for the same period last year were 2.05%, 17.83%, 69.99% and 10.13%./.

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