Vietnam Retail Sales Soar 20.7 per cent in Jan-November

Total retail sales revenues for goods and services across Vietnam between January and November are estimated to grow 20.7 per cent from a year earlier to VND523.427 trillion ($32.7 billion), reported the government’s General Statistics Office (GSO).

 

The per capita spending was estimated at VND6.3 million in this period, or VND572,000 a month on average.

 

In the January-November period, the individual sector was the biggest seller with combined revenues of VND326.875 trillion, up 22.1 per cent on-year and accounting for 62.4 per cent of total retail sales.

 

The private sector followed with revenue of VND112.194 trillion, or 21.4 per cent of total sales, but recording a highest rise of 24.3 per cent on-year.

 

The state-owned sector gained total sales of VND65.729 trillion, or 12.6 per cent of the total, posting an increase of 9.1 per cent on year.

 

The economic collective and foreign invested sectors made small contribution to the country’s retail sales, at VND5.095 trillion and VND13.534 trillion, or 1 per cent and 2.6 per cent of total, respectively. The collective sector witnessed growth rate of 20.6 per cent on-year and the foreign sector 20.8 per cent.

 

Regarding businesses, the trade sector contributed the biggest proportion to the country’s total retail sales, at VND426.514 trillion (81.5 per cent of total), followed by the hotel and restaurant sector at VND63.219 trillion (12.1 per cent), the service sector at VND29.922 trillion (5.7 per cent) and the tourism sector at VND3.772 trillion (0.7 per cent).

 

Last year, Vietnam obtained a retail sale growth rate of 20.5 per cent with the total revenue of VND475.38 trillion ($30.1 billion).
(GSO Nov 2006)