The nation's total retail sales and service revenues increased 11.6 percent year-on-year to 474.10 trillion VND (22.6 billion USD) in the firsttwo months, the General Statistics Office (GSO) reported.
VuManh Ha, a senior expert at the GSO Trade Department, said that thenation's retail sales during the reviewed period have returned toaverage growth of 6.2 percent, if price hikes were excluded.
Thegrowth, however, was far lower than the rate seen in the same periodlast year. This means that the domestic consumption demand has yet to beimproved as the locals have curbed their spending habits and arefocused on buying or using only essential goods and services.
Manyenterprises in the retail sector, meanwhile, continued to restricttheir business expansion programmes as they continued to encounterobstacles including capital shortages, a high volume of stockpiled goodsand the increasing prices of raw materials, Ha stated.
The tradesector, which accounted for nearly 80 percent of total revenues, rose9.6 percent over last year's corresponding period.
In theJanuary-February period, the foreign-invested sector experienced thehighest revenue growth at 11.4 percent, reaching 19.63 billion USD,while the State-owned sector recorded a modest rise of 7 percent at only2.11 billion USD.
The country's retail sector, with a boost fromforeign retail distributors, has initially proven it has changed forthe better. At present, there are 650 supermarkets in 59 of the 63provinces and cities across the country and 117 shopping centres in 32provinces and cities.-VNA
VuManh Ha, a senior expert at the GSO Trade Department, said that thenation's retail sales during the reviewed period have returned toaverage growth of 6.2 percent, if price hikes were excluded.
Thegrowth, however, was far lower than the rate seen in the same periodlast year. This means that the domestic consumption demand has yet to beimproved as the locals have curbed their spending habits and arefocused on buying or using only essential goods and services.
Manyenterprises in the retail sector, meanwhile, continued to restricttheir business expansion programmes as they continued to encounterobstacles including capital shortages, a high volume of stockpiled goodsand the increasing prices of raw materials, Ha stated.
The tradesector, which accounted for nearly 80 percent of total revenues, rose9.6 percent over last year's corresponding period.
In theJanuary-February period, the foreign-invested sector experienced thehighest revenue growth at 11.4 percent, reaching 19.63 billion USD,while the State-owned sector recorded a modest rise of 7 percent at only2.11 billion USD.
The country's retail sector, with a boost fromforeign retail distributors, has initially proven it has changed forthe better. At present, there are 650 supermarkets in 59 of the 63provinces and cities across the country and 117 shopping centres in 32provinces and cities.-VNA
