Vietnam’s retail sales and service revenues rise 11.5% in H1
The upward trend has proved the increasing purchasing power among Vietnamese people.
Total goods retail sales and service revenues in the first six months of 2019 rose to VND2,391.1 trillion (US$102.6 billion), up 11.5% year-on-year, the General Statistics Office has said in a monthly report.If excluding the price factor, the growth rate was 8.7% against the same period of 2018, a little higher than an annualized increase of 8.6% of the same period of 2018.
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The revenue of the second quarter of 2019 is estimated at VND1,206.9 trillion (US$51.8 billion), up 1.9% compared to the previous quarter and 11.1% year-on-year. Retail sales made up most of the revenue and the remaining belonged to accommodation and catering services, tourism and other services.
When it comes to goods retail sales, the revenue of this segment in the six-month period reached VND1,823.6 trillion (US$78.3 billion), making up 76.3% of total revenue, up 12.5% year-on-year. The sales of foods and foodstuffs increased by 13%; those of household equipment up by 12.1%, garment up 11.1%; and cultural, educational and transport facilities up 10.7%.
In the first half this year, restaurant and accommodation revenue is estimated at VND286.7 trillion (US$12.3 billion), accounting for 12% of the total revenue and up 9.8%.
Travel revenue is estimated to amount at VND21.9 trillion (US$940 million), up 13.3% year-on-year, said the office.
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