Vietnam’s retail sales surge 8.7% YoY in 7 months

Vietnam’s retail sales and services sector continued to demonstrate robust growth in the first seven months of 2024, with total revenue reaching approximately $143.2 billion, up 8.7 per cent year-on-year, the General Statistics Office (GSO) said.

In July alone, retail sales and services revenue climbed 9.4 per cent year-on-year to 528.3 trillion Vietnamese dongs, with notable gains in food sales, household utensils, garments, lodging and catering services, and tourism.

Over the seven-month period, retail sales reached 2.8 quadrillion Vietnamese dong, marking a 7.4 per cent year-on-year increase. Key contributors included food and foodstuffs, household appliances, garments, and cultural and educational products.

Accommodation and catering services generated 419.2 trillion Vietnamese dong in revenue, up 11.6 per cent year-on-year, while tourism revenue surged 31.8 per cent to 35.2 trillion Vietnamese dongs.

The e-commerce channel currently accounts for eight per cent of the total value of the fast-moving consumer goods market and is projected to grow by two per cent in the next two years.

Attribution: Vietnam News