Retail sales of goods and services up in July

VIETNAM, August 6 – HÀ NỘI — Retail sales of goods and services in Việt Nam in July are estimated at 486 trillion VNĐ ($20.8 billion), up 2.4% month on month and 42.6% year-on-year, according to the General Statistics Office (GSO).

In the first seven months, total retail sales are estimated at VNĐ3.2 quadrillion, up 16% from last year. Of the total, commodity retail revenue during the period is estimated at NV2.55 quadrillion, up 13.7% year-on-year.

Notably, seven-month accommodation and food services revenue was VNĐ324.9 trillion, up 37.5% year-on-year, driven by increased demand travel after a two-year hiatus due to the pandemic. Revenue from this type of service in July saw a year-over-year increase of 134.7%.

From January to July, travel and tourism activities also generated revenue of VN11.9 trillion, an increase of 2.7 times compared to the same period last year.

Sales of other services during the period are estimated at VN312.6 trillion, up 13.9% year-on-year.

To promote consumption, the GSO proposes that the Ministry of Industry and Commerce closely monitor global and domestic price fluctuations, proactively recommend appropriate response solutions, and coordinate with ministries and sectors to guide companies to take greater advantage of the free trade agreements signed, in particular the regional comprehensive economic partnership. —VNS

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