Vietnam Retail Sales Up 29.7 per cent at US$23 Bln in Jan-May

Total retail sales of goods and services of Vietnam are estimated at VND368.9 trillion (US$23 billion) in the first five months of 2008, an on-year increase of 29.7 per cent, said the Ministry of Industry and Trade.

 

The individual economic sector is the biggest seller, accounting for 56 per cent of total revenues, followed by the private sector for 29.2 per cent, the state-owned sector for 11.4 per cent, the foreign-invested sector for 2.4 per cent and the collective sector for 1 per cent.

 

The foreign sector and collective sectors have the highest sale growth, both at 36.3 per cent on year, followed by individual sector at 35.3 per cent.

 

The state sector reports revenues growth of only 2.8 per cent on year, the lowest level.

 

The high growth of retail sales is mainly attributed to the surging prices of goods and services.

 

The country’s consumer price index (CPI) is forecast to rise 25.2 per cent on year in May.

(Investment, News)