Retail sales revenues for goods and services throughout Vietnam between January and August this year posted an estimated on-year increase of 20.2 per cent, totaling VND364.041 trillion ($22.9 billion), reported the government’s General Statistics Office (GSO).
The per capita spending was estimated at VND4.4 million ($276.7) in the reviewed period, or VND550,000 ($34.6) per month.
In the first eight months, the private sector topped the advancers with a rise of 26 per cent to VND78.033 trillion ($4.9 billion), accounting for 21.4 per cent of the total retail sales.
Following was the foreign-owned sector with a rise of 23 per cent to VND9.457 trillion ($594.8 million), making up 2.6 per cent of total retail sales.
The individual economic sector, which contributed up to 62.7 per cent to the retail sales in the January-August period, also booked high growth of 20.9 per cent to VND228.357 trillion ($14.4 billion).
The collective sector saw a retail sales growth of 20.7 per cent against last year, totaling VND3.5 trillion ($220 million), representing only 1 per cent of the total; while the state-owned sector reported combined sales of VND44.694 trillion ($28.1 billion), or 12.3 per cent of the total, and an increase of 8.1 per cent.
The tourism sector witnessed the highest growth at 31.5 per cent, followed by the services sector 28.8 per cent, the hotel and restaurant sector 21 per cent and the trade sector 19.5 per cent.
Nevertheless, the trader sector contributed the biggest proportion to the country’s total retail sales, at VND296.675 trillion ($18.7 billion), or 81.5 per cent, followed by the restaurant sector at VND44.106 trillion ($2.774 billion), or 12.1 per cent.
The services sector posted retail revenue of VND20.752 trillion ($1.3 billion), or 5.7 per cent of the total, while the tourism sector booked VND2.508 trillion ($157.7 million), or 0.7 per cent.
Vietnam gained an average annual growth of 20 per cent in retail sales in recent years. The rate was 20.5 per cent last year with the total revenue of VND475.38 trillion ($30.1 billion).
P.V
Vietnamese
