Retail sales of goods, services up almost 10% in Q1

Retail sales of goods, services up almost 10% in Q1

Total retail sales of goods and consumer service revenue in the first quarter of 2025 were estimated at VNĐ1.7 quadrillion (US$65.5 billion), up 9.9 per cent year-on-year, according to the General Statistics Office (GSO).

Foreign tourists in Hạ Long Bay. Revenue from travel and tourism services in the first quarter of 2025 was up by 25.1 per cent year-on-year. — VNA/VNS Photo

Total retail sales of goods and consumer service revenue in the first quarter of 2025 were estimated at VNĐ1.7 quadrillion (US$65.5 billion), up 9.9 per cent year-on-year, according to the General Statistics Office (GSO).

GSO director Nguyễn Thị Hương stated that high domestic consumption demand during the holidays, such as Tết, as well as the significant number of international visitors to Việt Nam, are key factors contributing positively to the growth of the trade and service sector.

Retail sales reached VNĐ1.3 trillion, accounting for 76.8 per cent of the total, and up 8.8 per cent from the same period last year. 

Revenue from accommodation and food services rose by 14 per cent year-on-year to more than VNĐ200 trillion. In comparison, that from tourism and travel services increased by 18.3 per cent to VNĐ21.5 trillion, making up 11.7 per cent and 1.3 per cent of the total, respectively. 

Meanwhile, revenue from other services was estimated at VNĐ175 trillion, up 12.5 per cent year-on-year, marking 10.2 per cent of the total.

In March alone, total retail sales of goods and consumer service revenues rose by 10.8 per cent compared to the same period last year, driven by the increasing demand for national holidays and the growing number of foreign visitors to Việt Nam, the GSO reported. 

In the month, the retail sales of cultural and educational goods rose by 9.9 per cent, food and foodstuffs by 9.6 per cent, household appliances and tools by 8.1 per cent and garments by 5.7 per cent.

Revenue from accommodation and catering, and travel and tourism services, surged by 16.4 per cent, and 25.1 per cent, respectively.

To promote the growth of the domestic market, the Ministry of Industry and Trade commits to accelerating the review, revision, development and completion of several legal documents related to domestic market development, ensuring that they align with current circumstances and effectively support the management of the macroeconomy and the buying and selling of goods by individuals and businesses.

The Ministry also continues to coordinate with local ministries and agencies to closely monitor market developments, ensure an adequate supply of essential goods to meet public demand, especially during peak holiday periods, to prevent shortages and price hikes.

Hương emphasised the need to focus on promoting consumption and developing the domestic market.

She recommended effectively implementing trade promotion programmes and enhancing the distribution of goods through digital platforms and e-commerce. 

It also aims to promote connections between domestic manufacturers and modern distribution channels, expanding the consumption of domestic products nationwide.

The Government should introduce policies to exempt, reduce and extend taxes, fees, charges and land rents to support people and businesses, promoting production and business activities. 

"Additionally, localities should intensify tourism promotion, improve the quality of tourism products and create unique attractions to draw more tourists," said Hương.

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