Retail sales of goods, services record positive growth

Retail sales of goods, services record positive growth

Trade and tourism activities continued to show positive growth last month, with total retail sales of goods and consumer service revenue estimated at VNĐ576.4 trillion (US$21.98 billion).

For the first seven months, the total revenue at current prices was estimated at VNĐ3.99 quadrillion, up 9.3 per cent year-on-year. — VNA/VNS Photo

Trade and tourism activities continued to show positive growth last month, with total retail sales of goods and consumer service revenue estimated at VNĐ576.4 trillion (US$21.98 billion), up 1.1 per cent month-on-month and 9.2 per cent year-on-year, according to the National Statistics Office under the Ministry of Finance.

Specifically, revenue from food and foodstuffs increased by 9.9 per cent year-on-year, garments by 7.9 per cent, household appliances, tools, and equipment by 7.1 per cent, accommodation and catering services by 16.3 per cent, and travel services by 12.6 per cent.

For the first seven months, the total revenue at current prices was estimated at VNĐ3.99 quadrillion, up 9.3 per cent year-on-year. Excluding the price factor, the increase was 7.1 per cent.

Of the total, retail sales of goods were estimated at approximately VNĐ3.05 quadrillion, accounting for 76.4 per cent of the total revenue and rising by 7.8 per cent compared to the same period last year. Among these, sales of food and foodstuffs and educational and cultural products both rose by 9.4 per cent, garments by 6.4 per cent, and household appliances, tools, and equipment by 5.5 per cent.

Several localities recorded high year-on-year growth, including Đà Nẵng (9.1 per cent), Hải Phòng (8.4 per cent), HCM City (8.2 per cent), Hà Nội (8 per cent), and Cần Thơ (7.8 per cent).

In the period, travel and tourism revenue was estimated at VNĐ52.8 trillion, up 20 per cent compared to the same period last year. Meanwhile, revenue from accommodation and food services was estimated at VN 481.9 trillion, up 15 per cent year-on-year. That of other services was estimated at VNĐ409.1 trillion, up 12.4 per cent.

With the positive results in the first half of the year, Nguyễn Thị Hương, Director of the National Statistics Office, forecast that the trade and service sectors would continue to maintain strong recovery momentum in the coming months.

Favourable factors such as policies supporting domestic consumption, tourism stimulus measures, effective inflation control, along with improvements in people’s incomes, would create a foundation for stable and sustainable growth. 

Bizhub