Vietnam growth slows as fuel prices surge
Vietnam’s economic growth has slowed in early 2026, as rising fuel prices begin to weigh on businesses and consumers.
According to the National Statistics Office of Vietnam, the country’s GDP expanded by 7.83% in the first quarter — down from 8.46% in the previous quarter, News.Az reports, citing Al Jazeera.
While Vietnam remains one of the fastest-growing economies globally, the dip highlights increasing pressure from higher energy costs, which are affecting both production and household spending.
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The impact has been amplified by disruptions in global oil supply routes, particularly through the Strait of Hormuz — a key passage for around one-fifth of the world’s oil. Ongoing tensions linked to Iran have further strained energy markets.
Like many fossil fuel-dependent economies in Asia, Vietnam is highly exposed to these shocks. The country imports roughly 85% of its crude oil from the Middle East, with nearly all of it supplied by Kuwait.
Economists warn that if energy prices remain elevated, Vietnam’s growth momentum could face further challenges in the months ahead.
By Aysel Mammadzada
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