Revenue of retail sales and services rises in July

Vietnam’s revenue of retail sales and services in July was estimated at 431.9 trillion VND (18.6 billion USD), up 3.3 percent over the previous month and up 4.3 percent from the same period last year, according to the General Statistics Office (GSO).
Revenue of retail sales and services rises in July ảnh 1A Vinmart in Hanoi. The total revenue of retail sales in the first seven months of this year reached 2.2 quadrillion VND, up by 3.6 percent year on year. (Photo kinhtedothi.vn)

Hanoi (VNS/VNA)
– Vietnam’s revenue of retail sales and services in Julywas estimated at 431.9 trillion VND (18.6 billion USD), up 3.3 percentover the previous month and up 4.3 percent from the same period last year,according to the General Statistics Office (GSO).

Trade and service activities in July continued to increase due to policies onstimulating domestic consumption and tourism, along with government supportpackages to help people reduce the burden of spending.

This was also the month during the summer vacation of students, so manyfamilies travelled in the country.

Revenue reached 333.8 trillion VND from retail sales, up 2.6 percent month onmonth and up 7 percent year on year; 48.2 trillion VND from accommodation andfood services, up 9.2 percent month on month but down 4.4 percent year on year;and 1.5 trillion VND from tourism, up 29.6 percent month on month but down 59.7percent year on year.

In the first seven months of this year, total revenue of retail sales andservices was 2.8 quadrillion VND, down 0.4 percent over the same period lastyear.

If excluding the price factor, the total revenue decreased by 4.8 percent yearon year while in the first seven months of last year, it gained an increase of9 percent year on year.

Of which, the revenue of retail sales in the first seven months reached 2.2quadrillion VND, accounting for 79.2 percent of the total. It rose by 3.6 percentover the same period last year because July was a promotional month tostimulate domestic consumption, increase market shares and restore the domesticeconomy affected by the COVID-19 pandemic.

The revenue of accommodation and catering services in the first seven monthswas estimated to reach 280.9 trillion VND, accounting for 10 percent of thetotal. It was down 16.6 percent over the same period last year.

Localities having strong reductions in revenue of accommodation and cateringservices included Khanh Hoa (59.1 percent), Ba Ria-Vung Tau (46.5 percent), HCMCity (45.1 percent), Can Tho (27.5 percent), Da Nang (24.5 percent), Thanh Hoa(21.5 percent) and Hanoi (18.9 percent).

The tourism revenue in the seven months was estimated at 11.1 trillion VND,down 55.4 percent over the same period last year.

Some localities had a sharp decrease in tourism revenue included Khanh Hoa(76.4 percent), HCM City (74.9 percent), Ba Ria - Vung Tau (63.3 percent), Da Nang(58.6 percent), Can Tho (57.1 percent), Quang Ninh (50.5 percent), Quang Binh(48.6 percent), Hanoi (38.6 percent), Thanh Hoa (38.5 percent), Binh Dinh (38 percent)and Hai Phong (23.7 percent)./.
VNA

See more

VinFast showcases its complete range of electric vehicles at the BIMS 2024 exhibition. (Photo: VNA)

Vietnamese products rise from villages to global markets

Many Vietnamese brands like VinFast, Hoa Phat, Viettel, Vinamilk, and GrowMax have steadily increased their market share at home, expanded their export markets, and built production and value chains, all while contributing to the country’s economic growth.

At the forum (Photo: baoquocte.vn)

Vietnam – a land of opportunities for Nordic firms

Ole Linnet Juul, Senior Chief Advisor of the Confederation of Danish Industry, commended Vietnam’s recent strides, particularly in institutional reforms, technological advancements, innovation, and digital transformation.

Apartments building in HCM City. 2025 is predicted to be a crucial foundation year for the real estate sector in HCM City. (Photo baoxaydung.com.vn)

HCM City real-estate market predicted to recover this year

2025 will serve as a crucial foundation year for the real estate sector in Ho Chi Minh City, marking the path towards a full recovery by 2026 after facing challenges caused by COVID-19 and economic recession, experts predicted.

The Commission for Management of State Capital at Enterprises transfers the rights and responsibilities of the agency representing state capital ownership to the Ministry of Finance. (Photo: VNA)

State capital ownership rights transferred to Ministry of Finance

After merging with the Ministry of Planning and Investment and receiving 18 state-owned groups and corporations from the Commission for Management of State Capital at Enterprises (CMSC), the Ministry of Finance acts as the 'backbone' of the economy, managing all financial resources from public investment and resources from these groups and corporations, to foreign loans.

At the ceremony on February 28 to officially transfer MobiFone Telecommunications Corporation from the commission to the Ministry of Public Security. (Photo: VNA)

State-owned MobiFone now under Ministry of Public Security

MobiFone's profit before tax in 2024 was estimated at over 2 trillion VND (78.23 million USD), exceeding its annual target by 20.6%. The corporation's digital services sector has witnessed high growth rates across many products and services, including MobiFone Meet (1,050%), Cloud (312%), mobiAgri (49%), and MobiFone Invoice (58%).

Investors monitor the development of the stock market at MB Securities JSC (Photo: VNA)

Vietnam pushes to elevate stock market

Vietnam will create favourable conditions for the stock market to develop more breakthrough and innovative products, enhancing the quality of market offerings and attracting more investors.