Vietnam: Retail sales and services reach almost $143 billion

• Nov 02, 2017

HANOI — The total revenue from retail sales and services topped US$142.9 billion during the first 10 months of 2017, surging 10.7 per cent year-on-year, according to the General Statistics Office (GSO).

Excluding inflation, the increase would be 9.4 per cent, reaching the highest rate this year, GSO said. It was the second consecutive month with a growth rate of more than 9 per cent.

The growth showed that people’s purchasing power is improving and it is likely to remain stable this year, the office said.

Travel services, and sale of wooden products and building materials showed the highest growth rate at 15.2 per cent and 13.5 per cent, respectively, in the first 10 months of this year.

This was followed by retail sales in accommodation, restaurant and catering services with a growth rate of 12.5 per cent, revenue from food and foodstuffs showed a growth of 10.5 per cent, and education and cultural products of 9.9 per cent.

Other products that showed growth in revenue included textile and garments at 9.8 per cent, home appliances at 8.8 per cent, and transport services at 8.4 per cent.

Some localities recorded an encouraging growth in retail revenue including Binh Duong, Binh Phuoc, Lao Cai, Ha Nam, Long An and Quang Ninh provinces.

Meanwhile, Thai Binh, Thanh Hoa, Hai Phong and HCM City gained high revenue from tourism services. — VNS

Source: http://vietnamnews.vn/economy/416723/retail-sales-and-services-reach-almost-143-billion.html#d4utEkuHi1JlZ9Wk.99