HCM City: February retail sales, service revenue drop
Total retail sales of goods and service revenue in Ho Chi Minh City approximated 239.27 trillion VND (10.4 billion USD) in February, down 5.4 percent month on month but up 11.2 percent year on year.
Consumers shop in a supermarket (Photo: VNA)HCM City (VNA) – Total retail sales of goods and service revenue in Ho Chi Minh City approximated 239.27 trillion VND (10.4 billion USD) in February, down 5.4 percent month on month but up 11.2 percent year on year.
That included almost 73.6 trillion VND in retail sales, falling 5.2 percent from January but still rising 4.6 percent from the same period last year, the municipal Department of Industry and Trade said on March 2.
Meanwhile, total retail sales of goods and service revenue in the first two months is estimated at over 491.23 trillion VND, up 8.2 percent year on year.
The department explained that since February followed the Lunar New Year holiday, consumption demand fell, especially for commodities in such groups as garment, timber and building materials. Besides, the decline in retail sales and service revenue last month was also attributable to the COVID-19 outbreak, which discouraged people from coming to public places like shopping centres or supermarkets.
Director of the authority Pham Thanh Kien said in this context, his department has been working with businesses, retailers and small traders to tackle difficulties facing them and coordinate goods supplies to meet people’s demand as consumption habits, purchasing power and prices of some goods are currently under impact of COVID-19./.
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