Retail sales rise on increased consumption demand in Q1
Retail sales rise on increased consumption demand in Q1
The total retail sales value of consumer goods and services was estimated to reach nearly 1.185 quadrillion (US$51.75 billion) in the first quarter of this year, according to the latest updates from the General Statistics Office.
This represented a rise of 12 per cent over the same period last year, and 8.9 per cent excluding inflation, fuelled by increased consumption demand in the early months of the year when the Tet (Lunar New Year) holidays occurred, the office said.
The retail value of consumer goods totalled $910.4 trillion, accounting for 76.8 per cent of the retail sales total and rising by 13.4 per cent over the same quarter last year. Significant rises in purchasing power for consumer goods were seen in Long An, Quang Nam, Binh Duong, Hai Phong, Ha Tinh, Bac Ninh, HCM City and Ha Noi, with growth rates ranging from 12 per cent to 18 per cent.
Revenue from accommodation and catering services was estimated at VND140 billion, up by 9.2 per cent, while retail revenue from tourism services totaled $11.3 trillion, up by 12.8 per cent.
International tourist arrivals to Viet Nam increased by 7 per cent in the first quarter, reaching 4.5 million, mainly from mainland China, South Korea, Japan, Rusia, Taiwan and the US.
Statistics also showed that telecommunications services revenue totalled VND104 trillion in January – March, a rise of 7.5 per cent. As of the end of March, Viet Nam had more than 135 million phone subscribers together with 13.9 million internet subscribers.
