A 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 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).
Trade and service activities in July continued to increase due to policies on stimulating domestic consumption and tourism, along with government support packages to help people reduce the burden of spending.
This was also the month during the summer vacation of students, so many families travelled in the country.
Revenue reached 333.8 trillion VND from retail sales, up 2.6 percent month on month and up 7 percent year on year; 48.2 trillion VND from accommodation and food 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 59.7 percent year on year.
In the first seven months of this year, total revenue of retail sales and services was 2.8 quadrillion VND, down 0.4 percent over the same period last year.
If excluding the price factor, the total revenue decreased by 4.8 percent year on year while in the first seven months of last year, it gained an increase of 9 percent year on year.
Of which, the revenue of retail sales in the first seven months reached 2.2 quadrillion VND, accounting for 79.2 percent of the total. It rose by 3.6 percent over the same period last year because July was a promotional month to stimulate domestic consumption, increase market shares and restore the domestic economy affected by the COVID-19 pandemic.
The revenue of accommodation and catering services in the first seven months was estimated to reach 280.9 trillion VND, accounting for 10 percent of the total. It was down 16.6 percent over the same period last year.
Localities having strong reductions in revenue of accommodation and catering services included Khanh Hoa (59.1 percent), Ba Ria-Vung Tau (46.5 percent), HCM City (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
