Revenue of retail sales and services rises in July

Viet Nam’s revenue of retail sales and services in July was estimated at VND431.9 trillion (US$18.6 billion), up 3.3 per cent over the previous month and up 4.3 per cent from the same period last year, according to the General Statistics Office (GSO).

 

Trade and service activities in July continued to increase due to policies on stimulating domestic consumption and tourism, along with government support packages to help people reduce the burden of spending.

This was also the month during the summer vacation of students, so many families travelled in the country.

Revenue reached VND333.8 trillion from retail sales, up 2.6 per cent month on month and up 7 per cent year on year; VND48.2 trillion from accommodation and food services, up 9.2 per cent month on month but down 4.4 per cent year on year; and VND1.5 trillion from tourism, up 29.6 per cent month on month but down 59.7 per cent year on year.

In the first seven months of this year, total revenue of retail sales and services was VND2.8 quadrillion, down 0.4 per cent over the same period last year.

If excluding the price factor, the total revenue decreased by 4.8 per cent year on year while in the first seven months of last year, it gained an increase of 9 per cent year on year.

Of which, the revenue of retail sales in the first seven months reached VND2.2 quadrillion, accounting for 79.2 per cent of the total. It rose by 3.6 per cent over the same period last year because July was a promotional month to stimulate domestic consumption, increase market shares and restore the domestic economy affected by the COVID-19 pandemic.

The revenue of accommodation and catering services in the first seven months was estimated to reach VND280.9 trillion, accounting for 10 per cent of the total. It was down 16.6 per cent over the same period last year.

Localities having strong reductions in revenue of accommodation and catering services included Khanh Hoa (59.1 per cent), Ba Ria-Vung Tau (46.5 per cent), HCM City (45.1 per cent), Can Tho (27.5 per cent), Da Nang (24.5 per cent), Thanh Hoa (21.5 per cent) and Ha Noi (18.9 per cent).

The tourism revenue in the seven months was estimated at VND11.1 trillion, down 55.4 per cent over the same period last year.

Some localities had a sharp decrease in tourism revenue included Khanh Hoa (76.4 per cent), HCM City (74.9 per cent), Ba Ria - Vung Tau (63.3 per cent), Da Nang (58.6 per cent), Can Tho (57.1 per cent), Quang Ninh (50.5 per cent), Quang Binh (48.6 per cent), Ha Noi (38.6 per cent), Thanh Hoa (38.5 per cent), Binh Dinh (38 per cent) and Hai Phong (23.7 per cent). 

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