July’s retail sale of goods, services surges

Tuesday, 2022-08-02 16:55:28
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NDO/VNA – Vietnam’s retail sale of goods and services in July is estimated at 486 trillion VND (20.8 billion USD), up 2.4% m-o-m, and 42.6% y-o-y, according to the General Statistics Office (GSO).

In the first seven months of 2022, the total retail sale is estimated at 3.2 quadrillion VND, up 16% compared to the same period last year.

The revenue from retail sale of commodities in the period is estimated at 2.55 quadrillion VND, up 13.7% y-o-y.

Meanwhile, the revenue from accommodation and catering services is 324.9 trillion VND, up 37.5% y-o-y, thanks to an increasing demand for travel after a two-year hiatus due to the COVID-19 pandemic. Notably, the revenue in July enjoyed a y-o-y surge of 134.7%.

Travel and tourism activities also produced an estimated revenue of 11.9 trillion VND, a 2.7-fold rise against the same period last year.

The sale of other services during Jan-Jul is estimated at 312.6 trillion VND, up 13.9% y-o-y.

To promote consumption in the coming time, the GSO proposes the Ministry of Industry and Trade closely monitor the fluctuations of the world and domestic economies, proactively consult appropriate response solutions, and coordinate with ministries and sectors to guide enterprises to make more use of signed free trade agreements (FTAs), especially the Regional Comprehensive Economic Partnership (RCEP).