Illustrative photo (Source: VNA)

Hanoi (VNA) - Vietnam's retail sales of goods and services were estimated at 297.7 trillion VND (13.4 billion USD) in January, up 11.7 percent from the same period last year, data from the General Statistics Office (GSO) revealed.

The retail sales of goods, which account for 76.1 percent of the total sales, reached 226.6 trillion VND (10.2 billion USD), up 12 percent from last year. Of which, garments and textiles are estimated to have increased 12.9 percent; and food and foodstuffs, 11.5 percent.

Retail sales growth was triggered by the increasing demand in preparation for the Lunar New Year (Tet), the GSO said.

In the reviewed month, Vietnam saw 8,320 new enterprises begin operations, with total capital of 59.3 trillion VND (2.7 billion USD), representing a 21.2 percent year-on-year increase in the number of new businesses, and an 87 percent year-on-year increase in capital.

More than 4,870 firms also resumed operations, up 69.6 percent against the same period last year.

According to the GSO, this January had the highest number of firms resuming operation in the past few years, adding that the numbers in January 2014 and January 2015 were 2,375 and 2,872 firms, respectively.

However, the number of firms that have either suspended or shut down operations in the month was also high.

In January, the number of enterprises which have completed disclosure procedures and shut down operations rose by 34.7 percent to 1,338. Most of the firms were small-sized, with registered capital of less than 10 billion VND (456,600 USD) each.

Further, companies that have declared a temporary suspension of operations numbered 12,456, up 27.5 percent year-on-year.-VNA