Consumer goods and services retail sales increased 10.9 % in H1

Total revenue from retail sales of consumer goods and services increased 10.9% year-on-year in the first six month of this year to more than 3 quadrillion VND (127 million USD), according to the General Statistics Office (GSO).

19:23 02/07/2023

Total revenue from retail sales of consumer goods and services increased 10.9% year-on-year in the first six month of this year to more than 3 quadrillion VND (127 million USD), according to the General Statistics Office (GSO).

Specifically, retail sales of goods stood at 2.3 quadrillion VND, up 9.3%, with the sales of food and foodstuff growing by 13.5% and those of cultural and educational products increasing by 9.3%.

Retail sales of goods in January-June period in some localities rose sharply such as Binh Duong (15.6%), Quang Ninh (14.5%), Hai Phong (14%), Dong Nai (12.3%) and Khanh Hoa (9.7%) compared with the same period last year.

Accommodation and food services generated about 321.7 trillion VND in the reviewed period, up 18.7% from a year earlier.

Tourism revenue surged 65.9% year-on-year to around 14.5 trillion VND. Localities seeing a sharp increase in revenue include Da Nang (174%), Hanoi (106.9%), Hai Phong (93.2%), and Ho Chi Minh City (78.5%).

Revenue from other services was estimated at 303.4 trillion VND, up 14.4% over the same period last year.

In June alone, retail sales of consumer goods and service revenue totaled 505.7 trillion VND, an increase of 0.5% month on month and 6.5% year on year.

The total retail sales of consumer goods and services in the second quarter of this year were estimated at 1.520 quadrillion VND, a year-on-year rise of 1.6%, the GSO reported.

Defining the domestic market as one of the important factors that promote GDP growth of the whole country, the Ministry of Industry and Trade will focus on effectively carrying out programmes on promoting trade in the domestic market, while pushing up the distribution of goods through digital platforms, and e-commerce to expand domestic consumption.

The ministry will enhance the implementation of a strategy on domestic trade development to 2030, with a vision to 2045 and other projects on domestic trade development.

It will support businesses in trade promotion activities, build trademarks and popularise regional specialties and typical products of Vietnam.

The ministry will also focus on modernising the distribution system in rural and mountainous areas to bring more Vietnamese goods to the countryside, combining traditional trade with modern ones and closely monitoring the prices of essential commodities for effective operation as well as ensuring the supply of electricity and petrol for the market in all situations.