Retail sales of goods, consumer services record positive growth

Trade and tourism activities continued to show positive growth in July, with total retail sales of goods and consumer service revenue estimated at VND576.4 trillion ($21.98 billion), up 1.1% month-on-month and 9.2% year-on-year.

Specifically, revenue from food and foodstuffs increased by 9.9% year-on-year; garments by 7.9%; household appliances, tools, and equipment by 7.1%; accommodation and catering services by 16.3%; and travel services by 12.6%, according to the National Statistics Office under the Ministry of Finance.

For the first seven months, the total revenue at current prices was estimated at VND3,990 trillion, up 9.3% year-on-year. Excluding the price factor, the increase was 7.1%.

Of the total, retail sales of goods were estimated at approximately VND3,050 trillion, accounting for 76.4% of the total revenue and rising by 7.8% compared to the same period last year.

Among these, sales of food and foodstuffs and educational and cultural products both rose by 9.4%, garments by 6.4%, and household appliances, tools, and equipment by 5.5%.

Several localities recorded high year-on-year growth, including Danang (9.1%), Hai Phong (8.4%), Ho Chi Minh City (8.2%), Hanoi (8%), and Can Tho (7.8%).

In the period, travel and tourism revenue was estimated at VND52.8 trillion, up 20% compared to the same period last year. Meanwhile, revenue from accommodation and food services was estimated at VND481.9 trillion, up 15% year-on-year. That of other services was estimated at VND409.1 trillion, up 12.4%.

With the positive results in the first half of the year, Nguyen Thi Huong, director of the National Statistics Office, forecast that the trade and service sectors will continue maintaining strong recovery momentum in the coming months.

Favourable factors such as policies supporting domestic consumption, tourism stimulus measures, effective inflation control, along with improvements in people’s incomes, will create a foundation for stable and sustainable growth, she noted.

The office also noted the need to closely monitor market price fluctuations, input costs, and consumer sentiment to promptly adjust policies, ensure macroeconomic stability and maintain purchasing power.