Business

HCM City's retail sales of goods, services down 6.6 percent in two months

Ho Chi Minh City’s total retail sales of goods and revenues from services exceeded 89.09 trillion VND (3.9 billion USD) in February, up 0.4 percent against the previous month and 0.9 percent from the same period last year.
HCM City's retail sales of goods, services down 6.6 percent in two months ảnh 1People shop at a supermarket in HCM City (Source: VNA)
HCM City (VNA) – Ho Chi Minh City’s total retailsales of goods and revenues from services exceeded 89.09 trillion VND (3.9 billion USD) inFebruary, up 0.4 percent against the previous month and 0.9 percent from thesame period last year.

However, the total sales declined 6.6 percent year-on-yearin the first two months of this year to over 177.8 trillion VND, largely due torising fuel prices. The fuel prices hit a record high after being revised upfor six consecutive times, having major impacts on people’s consumption.

Retail sales of goods stood at nearly 53.08 trillion VND lastmonth, accounting for 59.6 percent of the total. The figure was down 3.1percent month-on-month, with revenue of most of the commodity groups decreasingcompared to the previous month, or before the Tet (Lunar New Year), the country’sbiggest holiday of the year.

Growth was only seen in the sales of cultural and educational itemsand precious stones and metals.

The sales of cultural and educational items picked up 8.3 percent asstudents returned to school after months of online learning to curb theCOVID-19 spread. Those of precious stones and metals rose by 4.8 percent as aresult of rising global gold prices and high demand on the God of Wealth Dayearlier last month./.
VNA
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