The total revenue from retail trade and services topped 118.4 billion USD during the first nine months of this year, surging 9.5 percent year-on-year, according to the General Statistics Office (GSO).
Consumer goods on shelves at the Aeon Mall in Long Bien District, Hanoi. (Photo: VNA)
Hanoi (VNA) - The total revenue from retail trade and services topped 118.4 billion USD during the first nine months of this year, surging 9.5 percent year-on-year, according to the General Statistics Office (GSO).
Excluding inflation, the increase would be 7 percent, lower than the 9.2 percent seen in the same period last year, GSO said.
GSO statisticians blamed the slow growth of retail trade in the period for the fact that local consumers have curbed their spending due to price fluctuations in the consumer market and other services such petroleum, health-care and school fees.
Retail sales of goods, which accounted for more than three fourths of the total sales, reached 90.2 billion USD from January to September, up 9.7 percent against last year’s corresponding period with several sectors recording a positive revenue increase including food and foodstuffs (up 13.2 percent); home appliances (up 10.1 percent) and textile and garments (up 9.5 percent) and transport services (up 7.6 percent).
Meanwhile, retail sales in accommodation, restaurant and catering services, which accounted for 10 percent of the total, posted a revenue of 13.64 billion USD, a yearly rise of 8.3 percent.
Some localities recording an encouraging retail revenue growth included Bac Giang, Lang Son and Hanoi while several others witnessed a sale reduction such as Hoa Binh, Ha Tinh, Phu Tho, Nghe An and Lai Chau.
The country’s retail turnover is expected to rise to 179 billion USD by 2020, the Association of Vietnam Retailers (AVR) has forecast.
According to AVR, the sector’s huge potential has attracted a lot of local and fore﷽ign investors, especially in HCM🔯 City, the country’s economic hub.-VNA
HCM City's annual sales promotion month from August 30 until the end of the year is expected to boost retail sales and attract a large number of local and foreign visitors.
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More than a product showcase, Vietfood & Beverage – Propack Vietnam 2025 is designed as a comprehensive ecosystem where businesses, experts, and consumers can share knowledge, explore technologies, and connect for collaboration.
Both sides expressed their hope that the outcomes of the discussion will continue to improve the efficiency of customs clearance activities at the customs clearance points and dedicated transport routes of the Huu Nghi – Youyi Guan international border gate pair.
The maximum retail price of E5 RON92 petrol has increased by 207 VND to 19,608 VND (0.75 USD) per litre while that of RON95-III rose by 234 VND to 20,074 VND per litre.
Consumer goods on shelves at the Aeon Mall in Long Bien District, Hanoi. (Photo: VNA)
