Retail sales shrug off economic woes

While exports and industrial output declined in the first half, retail sales of goods and services posted a year-on-year increase of about 20 percent, market officials said.

Customers at an outlet of food company Vissan in HCMC. Retail sales remain strong in Vietnam despite the global recession, growing by 20 percent in the first half of 2009. (Photo: SGGP)

Speaking at a meeting in Hanoi on June 30, the Government’s Domestic Market Regulation Team, made up of officials from several ministries, attributed the good performance to the measures taken by the Government to prevent a recession.

The country's retail sales revenues in January-June topped VND547.5 billion (about US$31.3 million), the team said.

The Government’s measures to boost consumer spending would spur consumption even higher during the rest of this year, the team predicted.

The global prices of some commodities, particularly oil and petrol, could go up, causing a rise in prices of several goods in the country, it said.

However, with consumer spending yet to return to past levels and supply remaining strong, prices would remain in check, the team said.

Delegates at the meeting said the A/H1N1 flu has impacted some sectors like tourism, partly affecting retail sales.

By P. Nguyen – Translated by Truc Thinh

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