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Eight-month revenue from retail, services up 19.3 percent

Of the figure, goods retail revenue was estimated at 2.925 quadrillion VND, a rise of 15.4 percent from the same period last year.

Retail revenue of cultural, education products surged 26.7 percent, garment 14.4 percent, food and foodstuff 12 percent and home appliances and tools 7.6 percent.

Eight-month revenue from retail, services up 19.3 percent

Total revenue from goods retail and services n the January-August period increased by 19.3 percent year on year to over 3.679 quadrillion VND (156.8 billion USD) - Photo: VNA

Localities recording high growth in goods retail revenue included Khanh Hoa (27.8 percent), Ho Chi Minh City (18.2 percent), Binh Duong (16.6 percent), Hai Phong (12.8 percent), Quang Ninh (12.2 percent), and Hanoi (10.7 percent).

Meanwhile, revenue from accommodation and eating out services in the period picked up 48.1 percent year on year to 377.8 trillion VND thanks to rocketing demand for entertainment and tourism in summer after more than two years of travel and going-out restrictionsprompted by the COVID-19 pandemic.

Can Tho posted a 95.5 percent rise in this type of revenue, Da Nang 84 percent, HCM City 76.3 percent, Quang Ninh 72 percent, and Hanoi 65.2 percent.

The 8-month travelling and tourism revenue was estimated at 15.4 trillion VND, up 3.4 times from the same period last year, but equal to only 47.7 percent of the same period in 2019.

Revenue from other services came to 361 trillion VND, up 24.2 percent year on year.

To stimulate consumption, the GSO suggested the Ministry of Industry and Trade closely monitor developments in the domestic and world economy and proactively propose suitable response measures. The ministry should also coordinate with relevant ministries and agencies to guide enterprises in better optimizing signed free trade agreements, including the RCEP.


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