Q1 retail revenue reaches US$50 billion
Q1 retail revenue reaches US$50 billion
Vietnam’s total retail revenue from goods and services in the first quarter of this year was estimated at VND1.185 quadrillion, equivalent to US$51 billion and up 12% from a year earlier, the General Statistics Office noted in its latest socioeconomic performance report.
The office’s data shows that the total sales of goods and services in March, the month after the Lunar New Year (Tet holiday), rose by 0.9% over the previous month to VND392.2 trillion, a year-on-year rise of 12.1%.
Last month saw sales of goods increase at a faster month-on-month rate of 0.8%. At the same time, sales continued to grow for accommodation and food, tourism and other services by between 0.6% and 1.5%.
Between January and March, Vietnam’s goods retail sales stood at VND910.4 trillion (US$39.2 billion), accounting for 76.8% of the total and up 13.4% compared with the corresponding period of the preceding year.
During the three months, sales of food and foodstuffs, home appliances, garments, vehicles, and stationery increased between 10.8% and 13.5% against the year-ago period.
The provinces and cities that registered strong retail sales growth included Hanoi, Phu Tho, Bac Ninh and Haiphong in northern Vietnam; Quang Nam and Ha Tinh in central Vietnam; and Binh Duong, HCMC, Long An and Tra Vinh in the southern part of the country.
Lodging and catering service revenue was an estimated VND140 trillion, up 9.2% over the three-month period of 2018, while tourism revenue stood at VND11.3 trillion, up 12.8%, according to the office.
In 2018, the country’s total revenue from goods and services advanced 11.7% year-on-year to nearly VND4.396 quadrillion (US$191 billion), of which its goods retail sales surged 12.4% to over VND3.306 quadrillion.
