Vietnam's total retail sales and service revenues reached 2,618trillion VND (124.66 billion USD), up 12.6 percent year-on-year, theGeneral Statistics Office (GSO) reported.
Theincrease, however, was the lowest seen in the past four years, comparedwith the 24.5 percent, 14.2 percent and 16 percent increases seen in2010, 2011 and 2012, respectively.
Vu Manh Ha, asenior expert at the GSO Trade Department, blamed this year's slowerretail sales pace on low local demand as customers have curbed spendingto focus only on buying or using essential goods and services.
Many enterprises in the sector, meanwhile, had to restrict theirbusiness expansion plans as they continued to encounter obstaclesincluding capital shortages, a high volume of stockpiled goods, andincreasing prices of raw materials, Ha said.
Thetrade sector, which accounted for nearly 80 percent of total revenues,rose 12.2 percent over the same period last year, while hotel andrestaurant services' revenues were up 15.2 percent, and the tourismsector saw a modest rise of 3.5 percent.
During thisyear, foreign-invested enterprises posted the highest revenue rise of33 percent, followed by the local private sector, with 15.3 percent.Notably, State-owned companies saw an 8.6 percent slump in total retailsales.
The country's retail sector, with a boostfrom foreign retail distributors, has initially proven it has changedfor the better.
At present, there are 650supermarkets in 59 of the 63 provinces and cities across the country and117 shopping centres in 32 provinces and cities.-VNA
Theincrease, however, was the lowest seen in the past four years, comparedwith the 24.5 percent, 14.2 percent and 16 percent increases seen in2010, 2011 and 2012, respectively.
Vu Manh Ha, asenior expert at the GSO Trade Department, blamed this year's slowerretail sales pace on low local demand as customers have curbed spendingto focus only on buying or using essential goods and services.
Many enterprises in the sector, meanwhile, had to restrict theirbusiness expansion plans as they continued to encounter obstaclesincluding capital shortages, a high volume of stockpiled goods, andincreasing prices of raw materials, Ha said.
Thetrade sector, which accounted for nearly 80 percent of total revenues,rose 12.2 percent over the same period last year, while hotel andrestaurant services' revenues were up 15.2 percent, and the tourismsector saw a modest rise of 3.5 percent.
During thisyear, foreign-invested enterprises posted the highest revenue rise of33 percent, followed by the local private sector, with 15.3 percent.Notably, State-owned companies saw an 8.6 percent slump in total retailsales.
The country's retail sector, with a boostfrom foreign retail distributors, has initially proven it has changedfor the better.
At present, there are 650supermarkets in 59 of the 63 provinces and cities across the country and117 shopping centres in 32 provinces and cities.-VNA
