Vietnam Posts Retail Sales up 22.7 per cent to US$28.7Bln in 8 Months

The General Statistics Office (GSO) reported that total retail sales of goods and services across Vietnam are estimated at VND458.6 trillion (US$28.7 billion) in the first eight months, a rise of 22.7 per cent on-year.

 

The individual economic sector was the biggest seller with revenue up 23.9 per cent on year to VND262 trillion, accounting for 57.1 per cent of the total sales, followed by the private sector up 34.4 per cent to VND130.7 trillion, or 28.5 per cent of total.

 

Revenue from the state-owned economic sector fell 4.7 per cent on-year to VND49.3 trillion, contributing 10.7 per cent to total sales.

 

The foreign-invested sector registered sale growth of 24.3 per cent on year to VND12.2 trillion, while the collective sector saw a rise of 22.4 per cent to VND4.4 trillion. These two sectors made contribution of only 2.7 per cent and 1 per cent to the total revenue, respectively.

 

In January-August, the trade sector recorded the biggest sale with total revenue of VND369.9 trillion, up 21.7 per cent on-year; followed by the hotel and restaurant sector with VND55.9 trillion, up 22.9 per cent.

 

The service sector saw the highest sale growth of 37.1 per cent to VND28.7 trillion.

 

The tourism sector posted retail sale growth of 18 per cent to VND4.1 trillion. (GSO August 2007)