Retail sales of consumer goods, services up 9.4% in first 10 months: GSO
Vietnam’s total retail sales of consumer goods and services saw a year-on-year increase of 9.4 per cent to more than 5.1 trillion VND (207.8 million USD) during January – October, the General Statistics Office said.
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Revenue from retail sales of goods was nearly 3.99 trillion VND, accounting for 78.1 per cent of the total and up 8.3 per cent year-on-year.
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| Revenue from retail sales of goods was nearly 3.99 trillion VND. (Photo: VNA) |
Notably, revenue from tourism surged 47.6 per cent to an estimated 30.2 trillion VND as localities nationwide have carried out an array of tourism offerings as well as cultural and sports activities to stimulate travel demand.
A strong rise in revenue from retail sales of goods and services was seen in several localities, including Da Nang (143.8 per cent), Khanh Hoa (137.9 per cent), Quang Ninh (94.9 per cent), Ho Chi Minh City (68 per cent), Hanoi (59.5 per cent), Hai Phong, (47.35 per cent) and Can Tho (32.4 per cent).
Experts said that revenue from retail sales is expected to rise until the end of this year on the back of economic recovery and acceleration of public investment disbursement. However, as domestic consumption remains weak and is on a sluggish recovery due to the lingering impacts of the COVID-19 pandemic, it is necessary to sketch out rational solutions and attractive programs to lure more foreign tourists and bolster domestic tourism so as to fuel consumption.
Over the past time, an array of incentives has been implemented by the Government to encourage spending, comprising the organisation of discount programs, reduction of interest rates and personal income tax, and enhanced social welfare support.
The Ministry of Industry and Trade will join hands with competent ministries, sectors, and localities to keep a close watch on the market situation, ensure sufficient essential items, and stabilize the market during year-end holidays.
(Source: VNA)
