Retail sales pick up nearly 10% in January

VGP - Total revenue from retail trade and services reached VND 361 trillion (US$ 15.84 billion) in January, increasing 3% over December and 9.5% over the same month last year, the General Statistics Office (GSO) reported.

February 02, 2018 1:24 PM GMT+7

Illustration photo

Retail sales of goods valued VND 272 trillion (US$ 11.93 billion), up 3.5% month-on-month and 8.3% year-on-year as domestic firms focused on stockpiling goods to meet rising demand of local consumers for the upcoming Lunar New Year (Tet) holiday, GSO said.

The sectors witnessing a positive revenue increase include home appliances (up 8%), food and foodstuff (up 7.5%) and transport services (up 5.6%).

Meanwhile, retail sales in accommodation, restaurant and catering services experienced a yearly increase of 15% to VND 45.1 trillion (US$ 198 million), thanks to a strong increase in the number of international and domestic tourists and a rising demand for restaurant and catering services.

In the first month of this year, revenue from tourism services also saw significant year-on-year growth of 39.3% to 3.9 trillion (US$ 171 million), with some provinces and cities recording strong growth, such as Ninh Binh (76%), Quang Ninh (46%), HCMC (44%), Bac Ninh (34%) and Ha Noi (33%)./.

By Kim Loan