Vietnam retail sales soar during seven months

Vietnam retail sales and services rose 11.1 per cent in the first seven months, according to the General Statistics Office (GSO).

The revenue reached VND2.49 quadrillion (US$108.3 billion) thanks to a strong increase in purchasing power during prolonged hot weather, the GSO said.

Sales in July reached the highest level during the past three months, with May and June each seeing 8.3 per cent growth.

The retail sector gained a year-on-year surge of 11.7 per cent in revenue to VND1.88 quadrillion, accounting for 75 per cent of the total revenue from retail sales and services.

Products recording strong increases included food (up 12.6 per cent), apparel (up 12.4 per cent), home appliances (up 12.3 per cent), cultural and education services (up 10.3 per cent) and transport (up 10.4 per cent).

GSO said demand for food rose during the FIFA World Cup in June and July.

Tourism revenue grew 17.7 per cent, followed by accommodation and restaurant and catering services, up 9.1 per cent.

The GSO expects Vietnam retail sales to grow by 10.5 per cent over the full year.


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