Stable growth continues in retail
Vietnamese retail revenue continued to rise during the first 11 months of this year, reaching VND2.95 quadrillion (US$134 billion), a year-on-year increase of 9.4%.
With price increases excluded, the rise was in fact only 8.3%, according to the General Statistics Office (GSO).
In the last 11 months, all four retail goods and services saw an increase over the same period last year. The retail sector taking the lead accounted for 76.2% of the total retail sales, bringing in revenue of US$102 billion, or an increase of 10.7%.
It was followed by retail sales in accommodation, restaurant and catering services accounting for 11.5% of the total, posting a revenue of US$15.353 million with an increase of 4.6%.
Other service sectors including weddings, funerals, and spa and beauty, accounted for 11.4%, bringing total revenue of 6.9%, while the tourism sector accounted for 0.9% of the total retail sales.
GSO expert Vu Manh Ha said that total retail sales reflects the improvement of purchasing power and stable growth due to falling prices in some consumer goods and many promotional programmes offered by supermarkets.
In addition, the commercial management and price stabilisation policy offered by the State have been effectively deployed to contribute a part in stabilising the market in the remaining months of the year, Ha said.
According to the GSO, the total retail sales may improve sharply in the last months of the year due to the high consumption months with many festivals and holidays.