Retail sales of goods and services in April increased by 12.1% YoY. Cumulatively for 4M2026, retail sales growth reached 11.1% YoY. However, excluding the price factor, real retail sales growth in the first four months was only 6.3% YoY, lower than the 2025 average of 7.05%, indicating that real consumer demand may be negatively affected by rising commodity prices.

Exports in April 2026 were estimated at USD 45.52 billion, up 21% YoY. Imports were estimated at USD 48.8 billion, up 3.6% MoM and 32.5% YoY. In 4M2026, exports and imports increased by 19.7% YoY and 28.7% YoY, respectively, resulting in an estimated trade deficit of USD 7.11 billion (compared to a trade surplus of USD 4.3 billion in the same period last year).

Index of Industrial Production (IIP) in April ước tăng 9,9% was estimated to increase by 9.9% compared to the same period last year. Overall, industrial production in 4M2026 rose by 9.2% YoY. Several industries recorded strong growth, including chemical manufacturing (+20.6%), metal production (+18.7%), beverage manufacturing (+15.9%), and electricity production and distribution (+10.9%).

State budget investment capital disbursed in April reached VND 54.8 trillion, up 8.2% YoY. In total, state budget investment in the first four months of 2026 reached VND 187.1 trillion, equivalent to 19.7% of the annual plan and up 10.4% YoY.

CPI in April increased by 5.46% YoY. On average, CPI rose by 3.99% in the first four months compared with the same period last year. Inflationary pressure stemmed from rising energy prices, logistics costs, and stronger demand. If global energy prices remain elevated, CPI is likely to stay high in the coming months.

As of April 29, 2026, the VND had depreciated by 0.19% YTD against the USD. Tensions in the Middle East have pushed energy prices higher, potentially prompting major central banks to raise interest rates, thereby increasing pressure on the currencies of many emerging economies, including Vietnam.