Retail sales post significant increase in 9 months
The total retail sale value of goods and services from January to September posted the highest year-on-year increase in 2017, according to the General Statistics Office (GSO).
The total retail sale value of goods and services from January to September posted the highest year-on-year increase in 2017 (Photo: VNA)
Hanoi (VNA) – The total retail sale value of goods and services from January to September posted the highestyear-on-year increase in 2017, according to the General Statistics Office(GSO).
The latest updates revealed that the total retail sale jumped by 10.5 percentover the same period last year, and 9.2 percent if inflation wasexcluded, with a value touching more than 2.9 quadrillion VND (129.6billion USD).
In comparison, the increases were 8.9 percent in theeight-month and 8.7 percent in the seven-monthperiods, and 8.4 percent in the first half of this year.
The increase in the retail sale of the service sector contributedsignificantly to the country’s gross domestic product (GDP) growth in the firstnine months of this year, even higher than the contribution of thefinance-banking and insurance sector and real estate business, according to GSO.
In the service sector, accommodation and catering services increased by 12 percentto touch 362.5 trillion VND, largely thanks to the improving tourismrevenue.
The retail sales of the goods totalled 2.18 quadrillion VND, up by10.5 percent, in which, food and foodstuff was up by 9.8 percent, householdappliances sales went up 11.3 percent, garment saleswent up 14.9 percent, and the transport means went up24.9 percent.
According to Nguyen Bich Lam, GSO’s General Director, the considerable increasein the retail sale of the service sector demonstrated the transition of Vietnam’seconomic structure.
The country’s GDP grew 6.41 percent from January to September.-VNA
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The total retail sale value of goods and services from January to September posted the highest year-on-year increase in 2017 (Photo: VNA) 
