First-quarter retail sales and services revenue surged about 24.1 percent against the same three months of last year to almost 364.5 trillion VND (19.2 billion USD), General Statistics Office figures show.
The rise was 14.4 percent allowing for inflation.
Private business with revenue of 121.2 trillion VND (6.4 billion USD) - a rise of 34.8 percent - contributed most to the surge.
The figures for the first three months of 2008 and 2009 illustrate the size of the jump.
First-quarter sales and service revenue for 2008 increased 11 percent against the first three months of 2007; the figure for 2009 was 6.5 percent.
The GSO attributes the jump to the economic rebound that lifted domestic consumption, especially during Tet (Lunar New Year).
Trade industries contributed most to the surge with revenue of 287.3 trillion VND (15.1 billion USD), up 24.7 per cent; hotels and restaurants followed with 40.3 trillion VND (2.1 billion USD).
Services-industry revenue was 32.9 trillion VND and tourist industry revenue, 3.9 trillion VND.
The Viet Nam Retailers Association reports that retail sales and services revenue surged 18.6 percent last year from the previous year to about 63 billion USD.
Excluding 6.9 percent for inflation, retail sales grew about 11 percent year-on-year.
Domestic consumption rescued production last year when export revenue fell 9.7 percent from the previous year.
The healthy domestic retail market helped attract many of the world's most famous trademarks including Naf Naf, Morgan de Toi, Mexx, Aldo, Hard Rock Cafe and Debenhams to Vietnam despite the global economic contraction.
CB Richard Ellis Vietnam director Richard Leech forecasts that more international retailers will enter Vietnam this year to tap a market where consumers often spend 70 percent of their incomes shopping.
The Ministry of Industry and Trade has forecast retail sales and services revenue to increase 22 percent to roughly 74 billion USD this year./.
The rise was 14.4 percent allowing for inflation.
Private business with revenue of 121.2 trillion VND (6.4 billion USD) - a rise of 34.8 percent - contributed most to the surge.
The figures for the first three months of 2008 and 2009 illustrate the size of the jump.
First-quarter sales and service revenue for 2008 increased 11 percent against the first three months of 2007; the figure for 2009 was 6.5 percent.
The GSO attributes the jump to the economic rebound that lifted domestic consumption, especially during Tet (Lunar New Year).
Trade industries contributed most to the surge with revenue of 287.3 trillion VND (15.1 billion USD), up 24.7 per cent; hotels and restaurants followed with 40.3 trillion VND (2.1 billion USD).
Services-industry revenue was 32.9 trillion VND and tourist industry revenue, 3.9 trillion VND.
The Viet Nam Retailers Association reports that retail sales and services revenue surged 18.6 percent last year from the previous year to about 63 billion USD.
Excluding 6.9 percent for inflation, retail sales grew about 11 percent year-on-year.
Domestic consumption rescued production last year when export revenue fell 9.7 percent from the previous year.
The healthy domestic retail market helped attract many of the world's most famous trademarks including Naf Naf, Morgan de Toi, Mexx, Aldo, Hard Rock Cafe and Debenhams to Vietnam despite the global economic contraction.
CB Richard Ellis Vietnam director Richard Leech forecasts that more international retailers will enter Vietnam this year to tap a market where consumers often spend 70 percent of their incomes shopping.
The Ministry of Industry and Trade has forecast retail sales and services revenue to increase 22 percent to roughly 74 billion USD this year./.
