The country's total retail sales and service revenues were estimated to reach 1,706 trillion VND (80.47 billion USD) in the first eight months of 2013.

The figure represents a 12.3 percent year-on-year rise, the General Statistics Office (GSO) said, adding that the rise will be 5.1 percent if price hikes were excluded.

In August alone, Vietnam's total retail sales and service turnover was estimated at 216.4 trillion VND (10.21 billion USD), up 0.69 percent against last month.

The trade sector contributed 77 percent of the total turnover with 1,300 trillion VND, increasing 11.6 percent over the corresponding period last year. It also posted the highest growth in August with a 0.81 percent increase from July.

The hotel and restaurant sector followed with 205.7 trillion VND, and posted the highest growth in the eight-month period with a year-on-year rise of 15 percent.

The service sector came next, accounting for 10.2 percent of the total, rising 14.92 percent over the same period last year, while the tourism sector jumped 6.7 percent.

Individual economic sectors contributed the highest portion to the total retail and services revenue with 860.3 trillion VND or 50.43 percent in the period, up 16.5 percent over last year, followed by private economic, state-owned economic and foreign-invested sectors.

However, the foreign-invested sector posted the highest growth level with 9.58 percent in August and 37.54 percent over the first eight months, the GSO added.-VNA