July’s retail sale of goods, services surges

Illustrative image (Photo: VNA)

Hanoi (VNA) – Vietnam’s retail sale of goods and services in July is estimated at 486 trillion VND (20.8 billion USD), up 2.4% m-o-m, and 42.6%y-o-y, according to the General Statistics Office (GSO).

In the first seven months of 2022, the total retail sale is estimated at 3.2 quadrillion VND, up 16% compared to the same period lastyear.

The revenue from retail sale of commoditiesin the period is estimated at 2.55 quadrillion VND, up 13.7% y-o-y.

Meanwhile, the revenue from accommodation and cateringservices is 324.9 trillion VND, up 37.5% y-o-y, thanks to an increasing demandfor travel after a two-year hiatus due to the COVID-19 pandemic. Notably, therevenue in July enjoyed a y-o-y surge of 134.7%.

Travel and tourism activities also produced an estimatedrevenue of 11.9 trillion VND, a 2.7-fold rise against the same period last year.

The sale of other services during Jan-Jul is estimated at312.6 trillion VND, up 13.9% y-o-y.

To promote consumption in the coming time, the GSO proposes the Ministry ofIndustry and Trade closely monitor the fluctuations of the world and domesticeconomies, proactively consult appropriate response solutions, and coordinatewith ministries and sectors to guide enterprises to make more use of signedfree trade agreements (FTAs), especially the Regional Comprehensive EconomicPartnership (RCEP)./.

VNA