Eight-month revenue from retail, services remains growth

Total revenue from goods retail and services in the January-August period increased by over 19% year on year to nearly 157 billion USD, which is a high growth rate for the period in many years, according to the General Statistics Office.

Revenue from accommodation and eating out services in the period picked up 48.1% year on year to 377.8 trillion VND thanks to rocketing demand for entertainment and tourism in summer after more than two years of travel and going-out restrictions prompted by the COVID-19 pandemic.

The 8-month travelling and tourism revenue was estimated at 15.4 trillion VND, up 3.4 times from the same period last year, but equal to only 47.7% of the same period in 2019.

Revenue from other services came to 361 trillion VND, up 24.2% year on year.

To stimulate consumption, the Office suggested the Ministry of Industry and Trade closely monitor developments in the domestic and world economy and proactively propose suitable response measures.

The ministry should also coordinate with relevant ministries and agencies to guide enterprises in better optimizing signed free trade agreements, including the Regional Comprehensive Economic partnership./.

VNA