Vietnam Posts 18.5 per cent Local Trade Growth in 2004 

Total retail sales of goods and services around Vietnam in 2004 are reported to rise by 18.5 per cent against 2003 to VND372.5 trillion (US$23.7 billion), compared with the targeted growth rate of 13 per cent, according to the General Statistic Office (GSO).

The private sector posted the highest growth of 24.2 per cent with VND68 trillion (US$4.3 billion) in the period, followed by individual economic sector with total retail sales rising by 19.4 per cent to VND234.6 trillion (US$14.9 billion).

The cooperative economic sector reached a growth rate of 15.1 per cent to have total retail sales of VND3.6 trillion (US$230.3 million) while the growth rate of the state-owned sector in the period was 9.9 per cent, amounting to VND57.7 trillion (US$3.7 billion).

The trade sector accounted for 81 per cent of the country's total local trade revenues in the year and posted an on-year growth rate of 19.7 per cent, while the hotel and restaurant sector reported retail sales equal to 12.4 per cent of the total, an on-year increase of 14.4 per cent.

• Lan Dung