The domestic market remained stable in May with total revenue from goods retail sales and services exceeding 354 trillion VND (15.6 billion USD), up 1.5 percent against the previous month and 10.4 percent year-on-year.
Hanoi (VNA) – Thedomestic market remained stable in May with total revenue from goods retailsales and services exceeding 354 trillion VND (15.6 billion USD), up 1.5percent against the previous month and 10.4 percent year-on-year.
The amount lifted thetotal revenue from goods retail sales and services in the first five months ofthis year to nearly 1.75 quadrillion VND (77.2 billion USD), an increase ofmore than 10 percent over the corresponding period last year, according to theMinistry of Industry and Trade (MoIT)’s Domestic Market Department.
The value was mainly contributedby essential goods like food and foodstuff, garments-textiles and householdutensils. Of note, revenue from tourism services expanded by 23 percent thanksto effects of the beginning of the tourism season and Vietnam’s efforts todevelop the tourism sector.
Despite rosy signs ofthe market in the five months, huge inflation pressure is forecast to persistin the time ahead, mainly due to increasing trends of prices of petroleum andother major materials, plus results of the market price roadmap for severalpublic services like health care and education.
Besides, the adjustmentof the basic salary from July 1 is expected to impact on prices of goods and domesticconsumption.
Given this, the MoIT hasunderlined the need to keep a close watch on the market in the remaining monthsof the year in order to ensure macro-economic stability.-VNA
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Illustrative photo (Photo: VNA) 
