Retail sales growth remains stable over 10 months

Retail sales growth remains stable over 10 months

This increase showed that consumer demand remains stable, said the National Statistics Office.

The total retail sales of goods and consumer service revenue were estimated at VNĐ5.7 quadrillion for the first 10 months of the year. — Photo vietnamplus.vn

The total retail sales of goods and consumer service revenue were estimated at VNĐ598.4 trillion (US$23 billion) last month, up 0.2 per cent compared to the previous month and 7.2 per cent compared to the same period last year. 

This increase showed that consumer demand remains stable, said the National Statistics Office.

The total retail sales of goods and consumer service revenue were estimated at VNĐ5.7 quadrillion for the first 10 months of the year, up 9.3 per cent compared to the same period last year, higher than the 8.8 per cent growth last year.

Excluding price factors, the growth was 7 per cent, indicating that people’s real purchasing power continues to improve.

Of this, retail sales of goods reached VNĐ4.4 quadrillion, accounting for 76.2 per cent of the total and rising by 8 per cent compared to the same period last year. 

Key product groups all experienced stable growth, including food and beverages up 10 per cent, clothing up 8.6 per cent, household goods and equipment up 7.1 per cent, and cultural and educational items up 6.9 per cent.

Regionally, retail activities continued to thrive in major economic centres. 

Đà Nẵng grew by 9.4 per cent, Cần Thơ by 8.7 per cent, while HCM City and Hải Phòng both increased by 8.3 per cent and Hà Nội by 8 per cent. 

This even growth reflects the effectiveness of demand stimulation programmes, promotions, and efforts to boost domestic consumption during the year-end period.

With the current recovery momentum, the trade and services sector is expected to continue being a bright spot in Q4, driving GDP growth and ensuring a balance between domestic consumption and exports amid ongoing global economic fluctuations. 

Bizhub