Retail sales up 9.5% in January

Total revenue from retail trade and services reached VND361 trillion (US$15.84 billion) in January, surging 3 per cent over December and 9.5 per cent over the same month last year. If inflation were excluded, the amount marked a year-on-year increase of 8.4 per cent, a report of the General Statistics Office (GSO) revealed. Retail sales of goods topped more than VND272 trillion ($11.93 billion), up 3.5 per cent month-on-month and 8.3 per cent year-on-year as domestic firms focused on stockpiling goods to meet rising demand of local consumers for the forthcoming Lunar New Year (Tet) holiday, GSO said. The sectors recording a positive revenue increase include home appliances (up 8 per cent), food and foodstuff (up 7.5 per cent) and transport services (up 5.6 per cent). Meanwhile, retail sales in accommodation, restaurant and catering services experienced a yearly increase of 15 per cent to VND45.1 trillion ($198 million), thanks to a strong increase in the number of international and domestic tourists and a rising demand for restaurant and catering services. Some localities that posted positive accommodation, restaurant and catering sale in January were the northern province of Quang Ninh (30 per cent), central Thanh Hoa province (15.2 per cent), HCM City (9 per cent) and the capital city (8.5 per cent). In the first month of this year, revenue from tourism services also saw significant year-on-year growth of 39.3 per cent to VND3.9 trillion ($171 million), with some provinces and cities recording strong growth, such as Ninh Binh (76 per… [Read full story]

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