Goods retail sales, service revenue rise almost 14% in Q1

A consumer shops at a supermarket. (Photo: VNA)

Hanoi (VNA) – Total retail sales of goods and consumer service revenue increased 13.9% year on year to over 1.5 quadrillion VND (63.9 million USD) in the first quarter of 2023, compared to the 5% growth in the same period of 2022, the General Statistics Office (GSO) reported.

Excluding the price factor, the retail sales and service revenue went up 10.3% while that in Q1 last year rose 2%.

Compared to Q1 of 2019, before the COVID-19 pandemic broke out, the amount in this year’s first three months increased 26.7%, the GSO noted.

Retail sales are estimated at nearly 1.19 quadrillion VND, up 11.4% (8.4% if the price factor is excluded). In particular, sales of grain food and foodstuff grew 14.6%, apparel 12.3%, vehicles (excluding automobiles) 4.5%, and household items and equipment 3.9%. Cultural and educational goods saw a decline of 2.7%.

Meanwhile, accommodation and food services generated about 161.1 trillion VND in Q1, up 28.4% from a year earlier.

Tourism revenue surged 2.2-fold from a year earlier to around 6.8 trillion VND, partly thanks to a large number of New Year cultural and tourism activities which were not held in the same period last year due to COVID-19, according to the GSO.

In March alone, retail sales of goods and consumer service revenue totalled 501.3 trillion VND, up 2% month on month and 13.4% year on year.

GSO General Director Nguyen Thi Huong attributed such results partly to the reopening to international tourists on March 15, 2022, overseas tourism promotion activities, and domestic consumption stimulation./.

VNA