Business

Retail sales continue positive growth in H1

Vietnam’s total revenue from retail sales and services in the first half of this year has maintained high growth since the beginning of the year, according to the General Statistics Office (GSO).

Local people shop for vegetables (Photo: VNA)

Local people shop for vegetables (Photo: VNA)

Retail goods and services posted a revenue of nearly VND2.12 quadrillion (9$4 billion ) in the first six months of 2018, a year-on-year rise of 10.7 percent. If inflation was excluded, the increase would be 8.3 percent, higher than the 7.9 percent growth seen in the first five months of 2017, the GSO said.
An abundant supply of essential goods and stable prices had spurred local trade and lifted purchasing power during the period, Vu Manh Ha, a GSO statistician, said.
Retail sales of goods, which accounted for 75.3 percent of the total revenue, reached an estimated VND1.59 quadrillion ($70.9 billion ) with several products recording strong increases, including food and foodstuffs (12.4 percent), garments (12.3 percent), home appliances (12 percent) and transport services (8.8 percent).
Meanwhile, retail sales in accommodation, restaurants and catering services saw a yearly increase of 9.6 percent to VND260.9 trillion ($11.5 billion ), with the central coastal provinces of Khanh Hoa, Binh Dinh and Da Nang, the Central Highlands city of Da Lat and the northern province of Quang Ninh leading the way.
From January to June, revenue from tourism services also recorded significant on-year growth of 19.5 percent to VND19.6 trillion ($860 million ) thanks to a rising numbers of local tourists and those traveling abroad.
Vietnam’s visa exemption policy for several Western European countries and the country’s domestic and overseas tourism promotion campaigns had also prompted tourism service revenue to grow, the GSO said, outlining some provinces and cities that recorded encouraging growth, such as Ca Mau (29 percent), HCM City (24.3 percent), Quang Ninh (18 percent) and Hanoi (14 percent).
Sales of other services during the six months hit VND243 trillion (over $11 billion ), a jump of 7.3 percent compared to a year ago.

Vietnamnews

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