Retail sales and consumer services revenue reaches highest rate in four years

The country’s total revenue generated from retail sales and consumer services in the first four months of 2019 reached the highest growth rate since 2015, topping nearly VND1.6 quadrillion (US$68.8 billion).

Consumer demand continued to increase in the first few months of the year. (Photo: VGP)
Consumer demand continued to increase in the first few months of the year. (Photo: VGP)

According to the General Statistics Office of Vietnam, the figure in April alone was estimated at VND400 trillion (US$17.2 billion), up 2.3% over the previous month and up 12% over the same period last year.

For the first four month period, total goods retail sales and consumer service revenue were estimated at nearly VND1.6 quadrillion, up 11.9% over the same period last year, if excluding the price increase at 9% (up 8.9% in the same period in 2018).

Of which, the revenue from retail sales of goods in the period was estimated at over VND 1.2 quadrillion, accounting for 76.8% of the total and rising quite well with an increase of 13.2% compared to the same period last year.

Revenue from accommodation and catering services was estimated at VND187.4 trillion, accounting for 11.8% of the total and increasing by 9.2% year on year.

Travel was projected to collect VND 14.9 trillion, accounting for 0.9% of the total and increasing by 13.1% over the same period last year.