Retail sales and services earn 172 billion USD in 11 months. (Photo: Hanoi (VNA) – Vietnam’s total revenue fromretail sales and services has continued to grow strongly, reaching 4quadrillion VND (172 billion USD) in the first 11 months of this year, a year-on-yearincrease of 11.5 percent, according to the Statistics Office of Vietnam.
Vietnam’s consumers spent 3 quadrillion VND (129 billionUSD) on retail goods, accounting for three-fourths of the total revenue and up12.3 percent from the same period last year. Several products enjoyed stronggrowth, including food and foodstuff (12.7 percent), clothing (12.3 percent) and home appliances(12.1 percent).
In November, consumers in the country purchased 385 trillion VND (16.54billion USD) worth of retail goods and services, up 1.1 percent from Octoberand 12.2 percent year on year.
Of the figure, they spent 288.6 trillion VND (12.4 billion USD) onretail goods, 47 trillion VND (2.02 billion USD) on accommodation and cateringservices and 3.4 trillion VND (146.1 million USD) on travel.
Last year, retail sales and services earned 3.93 quadrillion VND(174.85 billion USD), surging 10.9 percent year on year.
The growth showed the people’s purchasingpower was improving, largely due to the curbingof the consumer price index (CPI) at a hike rate of 3.53 per cent for 2017, belowthe government’s target.
Retail sales revenue also made up three quartersof the total figure, hitting 2.94 quadrillion VND (130.8 billion USD), ayear-on-year rise of 10.9 percent.
The revenue of retail salesrose 14 per cent for automobiles, 13.2 per cent for gemstones and preciousmetals, 12.8 per cent for wooden products and building materials, 11.1 per centfor food, 10.2 per cent for cultural and educational products, and 9.6 per centfor clothing.
Meanwhile, turnover from accommodation andcatering services stood at 494.7 trillion VND (22 billion USD), 12.6 percent ofthe total revenue and up 12 percent year on year. –VNA
VNA
