Vietnam Posts Retail Sales Up 30 per cent to US$38 Bln in Jan-August
Vietnam’s total retail sales of goods and services reached more than VND609 trillion (US$38 billion) in January-August, increasing 30 per cent against the same period last year, according to the General Statistics Office (GSO).
Per capita spending in the period is calculated at VND896,000 a month on average, twice against the VND438,000 monthly spending in 2007.
The trade sector posted retail sales of VND501.9 trillion, accounting for 82.3 per cent of total revenues, and increasing 30.4 per cent on year.
The hotel and restaurant sectors ranked second with sale value of VND69.1 trillion, or 11.4 per cent of total. It grew 25.3 per cent on year.
The tourism sector saw the highest sale growth of 43.2 per cent at VND8 trillion, representing a 1.3 per cent of total sales, and the service sector of 30.8 per cent at VND30.2 trillion, or 5 per cent of total.
The individual economic sector is the biggest seller with revenues of VND342.7 trillion, up 32.9 per cent on year, followed by the private sector with sales of VND176.7 trillion, up 34.1 per cent.
The state-owned sector posted total sales up 9.1 per cent at VND68.8 trillion, the foreign-invested sector up 30.1 per cent at VND14.8 trillion, and the collective sector up 36.4 per cent at VND6.4 trillion.
The high retail sale growth is mainly attributed to the surging prices of goods and services, which is estimated to surge 21.65 per cent from the beginning of this year. (GSO August 2008)
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