Keyword: "retail sales"

High consumption demand during the Lunar New Year holiday, and the strong tourism recovery fuelled retail sales of consumer goods and services in January.

HCM City’s Tet spending rose, with retail and service revenue reaching 108 trillion VND (4.3 billion USD) in January, up 7.5% year-on-year.

The culture, entertainment, and tourism group, saw the sharpest monthly increase, at 0.74%, in January.

The following is a brief review of the day’s events as reported by the Vietnam News Agency.

Vietnam’s total retail sales of consumer goods and services saw a year-on-year increase of 8.5% to over 5,246 trillion VND (207.5 billion USD) during January – October, the General Statistics Office (GSO) reported.

HSBC has lifted its 2024 gross domestic product (GDP) growth forecast for Vietnam to 7.0% from 6.5% after the country recorded stronger-than-expected growth in Q3 despite the devastation left by Typhoon Yagi.

The total retail sales of goods and services increased by 8.5% to nearly 4.15 quadrillion VND (169.7 billion USD) in the January – August period thanks to improving consumption, production and tourism, according to the latest updates of the General Statistics Office (GSO).

The domestic consumer market, with its population of 100 million, remains a vital pillar of the country's GDP growth, yet it has not been fully tapped. The Ministry of Industry and Trade has pledged to actively support local retail businesses in better utilizing domestic opportunities.

The northern city of Hai Phong recorded a year-on-year rise of 15.01% in the index of industrial production (IIP) during the first seven months of 2024, a fast pace compared to some other localities, statistics show.

Hanoi’s Consumer Price Index (CPI) in the January – July period rose 5.51% from the same time last year, according to the city’s statistics office.

Hanoi’s total retail sales of goods and consumer services revenue reached 266.2 trillion VND (10.46 billion USD) in the first four months of this year, up 9% year-on-year, according to the municipal People’s Committee.

Foreign and domestic investment in the southern province of Ba Ria - Vung Tau stood at almost 1.63 billion USD and over 25.93 trillion VND (1 billion USD) during the first four months of 2024, surging 7.2-fold from a year earlier.

Retail sales and services revenue in the first four months of this year totaled 2.06 quadrillion VND (81.06 billion VND), up 8.5% year-on-year, the General Statistics Office (GSO) said.

The Vietnamese economy is expected to carry momentum in the months to come after experiencing improvements in foreign direct investment (FDI) attraction, industrial production, and retail sales, among others, in the first four months of this year, experts have said.

Honda Vietnam on April 11 announced that its retail sales of motorcycles and automobiles in March increased by 11.4% and 124% compared to the previous month.

The total revenue from the retail sales of goods and consumer service in March was estimated at 509.3 trillion VND (20.3 billion USD), up 0.5% month-on-month and 9.2% year-on-year, according to the General Statistics Office (GSO).

The total retail sales of goods and consumer service revenue in February increased by 8.5% over the same period last year to 509.7 trillion VND (20.63 billion USD), according to the General Statistics Office (GSO).

Total retail sales of goods and revenue from consumer services in January were estimated at 21.5 billion USD, up 8.1% year-on-year, as consumers have been on the mood to shop for the upcoming Tet (Lunar New Year) Festival.

Purchasing power for the traditional Lunar New Year (Tet holiday) will increase 10% from the same time last year, according to the Ministry of Industry and Trade.

Experts expect that purchasing power during the upcoming Lunar New Year (Tet) holidays may increase by over 10% compared to the same period last year.