Vietnam economy shows trade growth and shifting real estate trends

Vietnam's economy shows mixed signals across trade, real estate, and finance. Total import-export turnover for the first eight months of 2026 reached $770.14 billion, a 28.7% increase, though SMEs face challenges in competing with FDI-dominated sectors.

The real estate market is experiencing shifts. While inventory for listed developers exceeds 39,000 units and debt levels have risen to a 15-quarter high—with Vinhomes and Novaland seeing significant increases—inner-city Hanoi is seeing a positive cycle driven by real demand. Additionally, northern Hanoi is emerging as a high-potential growth pole due to infrastructure development.

In the financial sector, credit risks in the corporate bond market are improving, with delinquency rates dropping to 0.24% in August. However, banks continue to carry the burden of long-term funding, highlighting an urgent need to develop capital markets to support medium and long-term credit needs, which have been growing faster than short-term credit.