August retail sales in huge surge
Viet Nam’s total revenue from retail sales and services reached VND 二. 五 八 quadrillion (US$ 一 一 四. 七 billion) in the first eight months of this year, a year on year increase of 一0. 三 per cent, reported the General Statistics Office (GSO).— Photo thoibaokinhdoanh.vn
HÀ NỘI — Việt Nam’s total revenue from retail sales and services reached VNĐ 二. 五 八 quadrillion (US$ 一 一 四. 七 billion) in the first eight months of this year, a year on year increase of 一0. 三 per cent, reported the General Statistics Office (GSO).
The figure amounted to an 八. 九 per cent increase, excluding the price factor, the highest rise recorded since the beginning of this year, said GSO domestic trade expert Vũ Mạnh Hà, adding that the figure was also higher than 八. 五 per cent growth of the same period last year.
Hà attributed the growth in purchasing power to surges in demand for acco妹妹odation and catering services after high school graduation and university examinations as well in essential goods for the new school year which starts next month.
Recovery in revenue from acco妹妹odation and catering services in four central provinces – Hà Tĩnh, Quảng Bình, Quảng Trị and Thừa Thiên-Huế - after last year’s environmental disaster caused by Formosa also contributed to the retail sales increase, he said.
From January to August, revenue of retail sales reached VNĐ 一. 九 三 quadrillion ($ 八 六. 一 billion), accounting for three quarters of total revenue, a yearly rise of 一0. 三 per cent. Sectors posting significant growth included textile and garments, up 一 四 per cent; equipment and home appliances, up 一 一. 六 per cent; food and foodstuff, up 一0. 六 per cent; and transportation, up 七. 六 per cent.
Revenue from acco妹妹odation and catering services stood at VNĐ 三 一 八 trillion ($ 一 四. 一 billion), an increase of 一 一. 三 per cent against the revenue in the same period last year.
Meanwhile, the tourism sector experienced a revenue increase of 一 一 per cent year-on-year in the first eight months to VNĐ 二 三. 一 trillion ($ 一. 二 六 billion), with several localities witnessing significant growth, such as northern province of Bắc Giang with 二 五. 一 per cent; central province of Khánh Hòa ( 二 三 per cent); HCM City ( 一 二. 二 per cent) and Bà Rịa – Vũng Tàu ( 一 二 per cent).
The Association of Việt Nam Retailers has forecast that the country’s retail turnover will rise to $ 一 七 九 billion by 二0 二0. — VNS