VN consumer spending rises 11.7% in 2018

VGP - Total retail sales of consumer goods and services in Viet Nam reached an estimated VND 4.4 trillion (US$189 billion) in 2018, up 11.7% against the same period last year, according to the General Statistics Office (GSO).

December 28, 2018 4:56 PM GMT+7

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In November, revenue from retail sales and services stood at VND385 trillion (US$16.55 billion), up 1.1% month-on-month and 12.2% year-on-year.

Retail sales in 2018 rose by 12.4% annually to more than VND3.3 quadrillion, with strong growth seen in precious stones and metals, timber and building materials, food, household appliances and garment products.

Tourism and travel revenues went up 14.1% from the previous year to VND41 trillion (US$1.76 billion), helped by increasing tourism demand and strong growth in foreign arrivals.

Revenues from accommodation and catering services were estimated at VND539.5 trillion (US$15.5 billion), up 9.1% compared with 2017.

Ho Chi Minh City, Hai Phong, Binh Dinh, Kien Giang, Quang Binh, Khanh Hoa and Ha Noi are some of the localities showing impressive tourism revenue growth.

By Vien Nhu