Total Retail Sales Grow 20.5 per cent in 2005

Total retail sales revenues for goods and services throughout Vietnam this year grew by 20.5 per cent on-year to VND475.38 trillion ($30.1 billion), reported the government’s General Statistics Office (GSO).

 

The private sector registered the highest retail sales growth among all five economic sectors, increasing by 25.3 per cent this year. It also accounts for the largest proportion in revenues, reaching VND288.92 trillion, or 60.8 per cent.

 

The foreign invested sector followed with total retail sales rising by 20.7 per cent to VND18.23 trillion.

 

The individual economic sector saw an on-year increase of 19.4 per cent with retail sales of VND101.1 trillion and the collective sector a growth of 16.8 per cent to VND5 trillion.

 

The State-owned sector rose slightly by 3.9 per cent to VND62.13 trillion.

 

In 2005, the trade sector accounted for 77.9 per cent of the country's total retail sales and posted an on-year growth rate of 19 per cent, while the hotel and restaurant sector reported retail sales equal to 12.2 per cent of the total and an on-year increase of 28.6 per cent.

 

Meanwhile, the tourist and service sectors also saw strong growth with 19.9 per cent and 23.8 per cent, respectively.

 

The retail sale growth rate of 20.5 per cent for the whole year is higher than the rate forecast by the Ministry of Trade earlier this year at 17 per cent.

 

In 2004, total retail sales of goods and services around Vietnam rose by 18.5 per cent on-year to VND372.5 trillion ($23.7 billion).
Vietnam Economic Times