Vietnam’s retail and consumer services up 11.7% in 2018

Friday, 2018-12-28 10:18:06
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Retail sales and consumer services were estimated at VND394.5 trillion in December. (Photo: VnEconomy)
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NDO - The total revenues of retail sales and consumer services in 2018 reached nearly VND4.4 quadrillion (US$189 billion), up 11.7% against the previous year, according to the General Statistics Office.

In December alone, retail sales and consumer services were estimated at VND394.5 trillion (US$17 billion) while the figure for the final three months was VND1,161 trillion (US$50 billion), a year-on-year increase of 12.9%.

Retail sales in 2018 rose by 12.4% annually to more than VND3.3 quadrillion, with strong growth seen in precious stones and metals, timber and building materials, food, household appliances and garment products.

Revenues from accommodation and catering services were estimated at VND539.5 trillion (US$15.5 billion), up 9.1% compared with 2017.

Meanwhile tourism and travel revenues went up 14.1% from the previous year to VND41 trillion (US$1.76 billion), helped by increasing tourism demand and strong growth in foreign arrivals.

Hai Phong, Ho Chi Minh City, Binh Dinh, Kien Giang, Quang Binh, Khanh Hoa and Hanoi are some of the localities showing impressive tourism revenue growth.