Vietnam Reports Retail Sales up 20.3 per cent to US$27Bln in January-November

Total local retail sales revenues for goods and services throughout Vietnam rose by 20.3 per cent on-year to VND426.9 trillion (US$27 billion) in the first eleven months of 2005, reported the government’s General Statistics Office (GSO).

 

The private sector still secured the highest retail sales growth among all economic sectors, increasing by 25.9 per cent. It also accounts for the high proportion in retail sales with 62.2 per cent.

 

The collective sector, which made up only 1 per cent of the sales, jumped to the second position with a growth of 18.3 per cent, followed by the individual business sector with 18 per cent, the foreign invested sector with 16.2 per cent, the State-owned sector 2.7 per cent.

 

During the January-October period, the hotel and restaurant sector posted highest rise with 30.3 per cent on-year and accounted for 13 per cent of the country’s total retail sales.

Meanwhile, the tourist sector increased 20.7 per cent, and the service sector grew by 17.9 per cent.

 

The trade sector accounted for 78.2 per cent of the total retail sales with the growth of 19 per cent in the period.

 

The Ministry of Trade has forecast that total retail sales of goods and services in 2005 may reach VND440 trillion (US$28 billion) this year, an increase of 17 per cent over last year.
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