Retail sales rise on strong consumer demand

Retail sales rise on strong consumer demand

 

HÀ NỘI - Total revenue from retail trade and services in the first nine months of this year reached VNĐ 三. 六 quadrillion (US$ 一 五 六. 五 billion),  一 一. 六 per cent over the same period last year.

If the price factor was excluded, the total revenue rose by  九. 二 per cent year on year, higher than the rate of  九. 一 per cent recorded in the first nine months of  二0 一 八, according to the General Statistics Office (GSO).

According to GSO experts, high demand due to improved living standards had spurred consumption. An abundant supply of goods and guaranteed quality had also increased sales volume.

Thanks to increased purchasing power, the wholesale and retail sector together with the services sector contributed significantly to GDP growth of  六. 九 八 per cent in the first nine months of  二0 一 九, the highest level recorded since  二0 一 一.

According to the GSO, total revenue from retail trade and services in September was estimated at VNĐ 四 二0. 三 trillion, up  一. 七 per cent month on month, and up  一 二. 七 per cent year on year.

For the third quarter of  二0 一 九, total revenue reached VNĐ 一. 二 quadrillion, up  三. 五 per cent compared to the previous quarter, and up  一 二. 二 per cent year on year.

Retail sales reached VNĐ 二. 八 quadrillion, accounting for  七 六 per cent of the total revenue and up  一 二. 六 per cent over the same period last year.

Many industries enjoyed growth including cultural goods and education ( 一 七. 四 per cent); food and foodstuffs ( 一 五. 四 per cent); household appliances, tools, and equipment ( 一 三 per cent); garments ( 一 二 per cent); and transportation ( 一0. 二 per cent).

Some localities increased the retail sales of goods such as: Quảng Ninh ( 一 九. 七 per cent); Bình Dương ( 一 七. 六 per cent); Thanh Hóa ( 一 五. 一 per cent); Hải Phòng ( 一 四. 九 per cent); Đà Nẵng ( 一 三. 九 per cent); Nghệ An ( 一 三. 八 per cent); and Hà Nội ( 一 二. 七 per cent).

Revenue from acco妹妹odation and catering services was estimated at VNĐ 四 三 四. 七 trillion, accounting for  一 二 per cent of the total and up  九. 六 per cent over the same period last year.

Revenue increased by  一 九. 五 per cent in Bình Định;  一 六. 二 per cent in Quảng Bình;  一 五. 九 per cent in Hải Phòng;  一 五. 三 per cent in Cần Thơ;  一 一. 九 per cent in Vĩnh Long; and  一 一. 三 per cent in Hà Nội.

Estimated revenue from the tourism sector was VNĐ 三 三. 五 trillion, up  一 二 per cent over the same period last year. - VNS