Vietnam’s retail sales increase 3.4 percent in first half of this year

SGGP
In the first six months of this year, the total retail sales of consumer goods and services of the country reached VND2.3 quadrillion, down 0.8 percent from the same period last year. Of which, retail sales of goods were VND1.9 quadrillion, accounting for 79.6 percent of the total retail sales of consumer goods and services, and up 3.4 percent compared to the same period last year.

The group of essential commodities still maintained growth momentum due to stable consumer demand. (Photo: SGGP)

The group of essential commodities still maintained growth momentum due to stable consumer demand. (Photo: SGGP)

Some localities with a relatively high increase in the retail sales of goods included Hai Phong City with an increase of 10.4 percent, Ho Chi Minh City with an increase of 10.1 percent, Hanoi with an increase of 9.9 percent, and Dong Nai with an increase of 8.4 percent.

On the opposite, the revenue from accommodation and catering services in the first six months was estimated at nearly VND230 trillion, accounting for 9.9 percent of the total retail sales of consumer goods and services and down 18.1 percent over the same period last year. It increased by 10.2 percent in the same period last year. Of which, the second quarter saw a drop of 26.1 percent. The provinces with the highest reduction were Khanh Hoa with a decrease of 60.3 percent, Ba Ria - Vung Tau with a decrease of 49.4 percent, and Ho Chi Minh City with a decrease of 47.3 percent. Similarly, the revenue from tourism services in the first six months reached VND10.3 trillion, accounting for 0.4 percent of the total retail sales of consumer goods and services, and decreasing by 53.2 percent over the same period last year. It increased by 12.4 percent in the same period last year.

Explaining this reason, many businesses (DN) said that in the retail sector, despite the complicated Covid-19 outbreak, enterprises still maintained an abundant supply of goods. Moreover, online shopping has become more and more popular, so in the time of social distancing, they still met the needs of people. While in the field of accommodation, catering, and tourism services, there was a sharp decrease due to the effect of the month when the country implemented social distancing.

The domestic tourism remained subdued due to the suspension of receiving international tourists to prevent the spread of the Covid-19 pandemic and late summer break. Currently, the Ministry of Industry and Trade has been cooperating with relevant authorities to promote advertising for Vietnamese products, stimulate domestic tourism to resurrect the retail industry of consumer goods and services. Of which, they will focus on accelerating domestic tourism to help enterprises operating in the fields of accommodation, catering, and tourism to maintain operations and develop stably in the future.

By Minh Ha – Translated by Thuy Doan

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