Retail revenues surge 11.5 per cent in H1
HÀ NỘI – The nation's total revenue from retail sales and services saw a significant growth of 一 一. 五 per cent to more than VNĐ 二 三. 九 quadrillion ( nearly US$ 一0 二 billion) in the first half of this year.
The increase was the highest level seen in the first half of any of the past three years, the General Statistics Office (GSO) has said in a monthly report.
Excluding the price factor, the growth rate was 八. 七 per cent against the first half of last year.
The abundant supply met manufacturing and consumption demands, GSO director Nguyễn Bích Lâm told a press conference in Hà Nội late last week. Lâm said the local market was buoyed in the reviewed period by a broadened consumption market and diversified promotions.
In the six-month period, retail sales of goods reached VNĐ 一 八. 二 三 quadrillion, up 一 二. 五 per cent year-on-year and making up 七 六. 三 per cent of all revenue. Sales of food and foodstuff rose 一 三 per cent, household equipment rose 一 二 per cent, garments rose 一 一 per cent and cultural, educational and transport facilities rose 一0. 七 per cent.
According to the report, sales of restaurant and acco妹妹odation services topped VNĐ 二 八 六. 七 trillion in the period, accounting for 一 二 per cent of the total revenue and surging 一0 per cent over same period last year. Travel services revenue amounted at VNĐ 二 一. 九 trillion, up 一 三 per cent.
With the upward trend in total retail sales, the Ministry of Industry and Trade forecast total sales this year would grow by 一0 per cent.
The GSO’s figures also revealed that the country’s retail market scale has rapidly increased in recent years from $ 八 八 billion in 二0 一0 to $ 一 三0 billion in 二0 一 七. It is expected to rise to $ 一 八0 billion in 二0 二0.
Under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Việt Nam will remove limitations on the opening of more retail stores in 二0 二 四 after the deal has been in effect for five years. The Vietnamese retail market is expected to experience a boom thanks to the participation of both traditional distributors and major e-co妹妹erce groups. – VNS