January retail sales up 3% due to growing consumption demand for Tet

Friday, 2018-02-02 17:58:15
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NDO - The total retail sale value of goods and services in January was estimated to reach VND361.1 trillion (US$15.89 billion), up 3% compared to the previous month and up 9.5% compared to the same period last year, according to the General Statistics Office (GSO).

The retail sales increase has been attributed to the bustling trade activities due to the increasing consumption demand as the Lunar New Year (Tet) festival approaches.

The GSO reported the total retail sales of goods at VND272 trillion (US$11.97 billion) in January, up 3.5% against the previous month and 8.3% against the corresponding period in 2017.

Household appliances and equipment posted the highest increase at 4.7% over the previous month, followed by garments and food with increases of 4.4% and 4.1%, respectively, in comparison to the previous month.

Meanwhile, the retail sales of accommodation and catering services were estimated at VND45.1 trillion (US$1.98 billion), up 0.5% over the previous month and the retail sales of travel services reached VND3.9 trillion (US$171.6 million), a rise of 3.9% against the previous month, reported the GSO.

The retail sales of other services was calculated at VND40.1 trillion (US$1.76 billion), an increase of 1.8% against the previous month.

Deputy Prime Minister Vuong Dinh Hue has asked the ministries and sectors concerned to ensure a stable supply and maintain the prices of goods and services in order to meet the increasing demand during the Tet festival, heard a recent government meeting on price management.