Vietnam’s retail sales of goods, services in January was estimated at 544.8 trillion VND (23.22 billion USD), up 5.2% from the previous month and 20% as compared with the same period last year, according to the General Statistics Office (GSO).
The office explained that the hike was attributed to the growing consumption demand as Tet (Lunar New Year), the biggest and longest festival in the Southeast Asian nation, fell in the month, Vietnam News Agency reported.
Of the total, the retail sales of goods were 435.4 trillion VND, a year-on-year rise of 18.1%, with the biggest increase seen in garments (27%).
The revenue from lodging and catering services reached 56 trillion VND, representing a year-on-year rise 37.3%. Notably, tourism raked in 2.2 trillion VND, a surge of up to 113.4% from the corresponding time last year, with the highest increases recorded in such localities as Hai Phong (541.5%), Da Nang (387.1%), Tien Giang (380.2%), Lao Cai (196.3%), Hanoi (113.8%) and Ho Chi Minh City (98.7%).
The revenue from other services was valued at 51.2 trillion VND, up 16.8% year-on-year.
The GSO said the purchasing power during the holiday rose about 8-10% against other months and was equivalent to the same period last year, with the strongest growth seen in food, foodstuff and essential goods.
The Market Surveillance Agency under the Ministry of Industry and Trade said that, market management forces have intensified inspections and supervisions, especially on e-commerce platforms and social networks, while coordinating with other competent agencies in controlling the quality of oil and gas products
@ Vietnam News Agency.
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Source: Vietnam Insider