The total retail sales and service revenue earned in the country inJanuary this year was more than 275.4 trillion VND (13 billion USD),data from the General Statistics Office (GSO) revealed.
Thefigure represents a 13 percent year-on-year rise, GSO said, adding thatthe increase will be 11.9 percent if price hikes are excluded.
VuManh Ha from the GSO said that January recorded the highest totalretail sales growth (inflation excluded) over the past five years. Hesaid retail sales saw yearly increases of 8.9 percent in January 2011; 4percent in January 2012; 1 percent in January 2013; and 7.2 percent in2014.
Ha attributed the significant rise in 2015 to surgingconsumer demand for the forthcoming Tet holiday, as well as thecountry's low consumer price index and sharp decline in the globalpetroleum price, which has curbed price hikes of essential goods. Thathas encouraged local consumers to buy more.
During the month,the trade sector, which accounts for 77 percent of total revenue, surged13.6 percent year-on-year. Several products posted increases in trade,including garments (6.2 percent) and home appliances (5.7 percent).
Meanwhile,the hotel-restaurant sector, which comprises 11.3 percent of the totalrevenue, was up 2.9 percent month-on-month and 5.2 percent year-on-year.However, tourism and other services had a yearly sales revenue fall of1.8 percent and 4.2 percent respectively in January.
The GSO reported that the country's total value of retail sales ofgoods and services in 2014 increased approximately by 10.6 percent, whencompared to last year.
Experts revealed that last year'sincrease in purchasing power was below expectations as the rate was justhalf the value attained in 2010. They explained that while supplyexceeded demand, incomes did not improve much.-VNA
Thefigure represents a 13 percent year-on-year rise, GSO said, adding thatthe increase will be 11.9 percent if price hikes are excluded.
VuManh Ha from the GSO said that January recorded the highest totalretail sales growth (inflation excluded) over the past five years. Hesaid retail sales saw yearly increases of 8.9 percent in January 2011; 4percent in January 2012; 1 percent in January 2013; and 7.2 percent in2014.
Ha attributed the significant rise in 2015 to surgingconsumer demand for the forthcoming Tet holiday, as well as thecountry's low consumer price index and sharp decline in the globalpetroleum price, which has curbed price hikes of essential goods. Thathas encouraged local consumers to buy more.
During the month,the trade sector, which accounts for 77 percent of total revenue, surged13.6 percent year-on-year. Several products posted increases in trade,including garments (6.2 percent) and home appliances (5.7 percent).
Meanwhile,the hotel-restaurant sector, which comprises 11.3 percent of the totalrevenue, was up 2.9 percent month-on-month and 5.2 percent year-on-year.However, tourism and other services had a yearly sales revenue fall of1.8 percent and 4.2 percent respectively in January.
The GSO reported that the country's total value of retail sales ofgoods and services in 2014 increased approximately by 10.6 percent, whencompared to last year.
Experts revealed that last year'sincrease in purchasing power was below expectations as the rate was justhalf the value attained in 2010. They explained that while supplyexceeded demand, incomes did not improve much.-VNA
