Retail sales of goods, services increase by 8.5% in February: GSO
The total retail sales of goods and consumer service revenue in February increased by 8.5% over the same period last year to 509.7 trillion VND (20.63 billion USD), according to the General Statistics Office (GSO).
Total retail sales of goods and consumer service revenue in February rose 8.5% year on year. (Photo: VNA)
Hanoi (VNA) – The total retail sales of goods andconsumer service revenue in February increased by 8.5% over the same period lastyear to 509.7 trillion VND (20.63 billion USD), according to the GeneralStatistics Office (GSO).
The figure contributed to a year-on-year rise of 8.1% in totalretail sales of goods and revenue from consumer services in the first twomonths of this year to 1.03 quadrillion VND.
Of the total, retail sales of goods were estimated at 798.3trillion VND, accounting for 77.4% of the total and up 6.8% over the sameperiod last year (up 4.5% if excluding the price factor).
Of which, retail revenue of food and foodstuffs rose by 10.8%, while thatof household appliances and tools was up 18.1%, garment 9.8%, vehicles(except cars) 1.8%, and cultural and educational products 16.5%.
Particularly, revenue from accommodation and cateringservices rose by 14%, while that from travel services surged by 35.8%.
Thanks to the favourable visa policies,tourism stimulus programmes as well as the efforts of the Government andpeople, the number of foreign visitors to Vietnam in February reached more than1.5 million, up 1.3% over the previous month and 64.1% over the same periodlast year. The number for the first two months of this year hit more than 3 million,an increase of 68.7% over the same period last year.
As a result, revenue from tourism services in the first two months of this yearreached 9 trillion VND.
Meanwhile, revenue from other services was estimated at105.9 trillion VND, accounting for 10.2% of the total and increasing 9.7% overthe same period last year.
🧜 Economists held that the shopping season during theLunar New Year (Tet) festival was a leverage for retailers to boost domesticdemand and increase revenue right from the beginning of the year. The businessoutcomes in Tet also showed the consumption trend of the year, helping enterprisesdecide their market development strategies and business plans for the year,they added./.
Total retail sales of goods and revenue from consumer services in January were estimated at 524.1 trillion VND (21.47 billion USD), up 8.1% year-on-year, as consumers have been on the mood to shop for the upcoming Tet (Lunar New Year) Festival, according to the General Statistics Office (GSO).
The strong recovery of industrial production, the exponential rise in exports, abundant goods supply, and good revenue from services in January paint a rosy picture for the domestic industry and trade sector this year, heard an online conference held by the Ministry of Industry and Trade (MoIT) on February 16.
The consumer price index (CPI) in February rose 1.04% against January and 3.98% year-on-year, fueled by high consumer demand for Tet (Lunar New Year) holiday and a surge in rice prices, the General Statistics Office said on February 29.
The packaging industry, which is projected to expand 15-20% in the next few years, is among sectors posting highest growth rate in the country, experts said at a press conference held in Ho Chi Minh City on February 29 to introduce the 17th International Processing and Packaging Exhibition and Conference for Vietnam (ProPak Vietnam 2024.)
Vietnam saw a continuous recovery trend and positive socio-economic results across all fields in February and the first two months of this year, heard the Government regular meeting held in Hanoi on March 2 under the chair of Prime Minister Pham Minh Chinh.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Total retail sales of goods and consumer service revenue in February rose 8.5% year on year. (Photo: VNA) 
