HCM City’s retail sales, services revenue surge by 11.2%

Tuesday, 2020-02-11 10:26:06
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Total retail sales and services revenue in Ho Chi Minh City were estimated at US$4.8 billion in January this year, up 11.2% compared to the same period last year.
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NDO/VNA – Total retail sales and services revenue in Ho Chi Minh City were estimated at VND112.77 trillion (US$4.8 billion) in January this year, an increase of 11.2% compared to the same period last year, according to the municipal Department of Industry and Trade.

Of which, the total retail sales of goods reached VND76.24 trillion, an increase of 13.2% compared to the same period last year, accounting for 67.61% of the total retail sales and services revenue, as the consumption demand of consumers increased heavily due to the festive season.

The revenues of products for Tet holidays were fairly high. Particularly, food and foodstuffs rose by 5.4% over the previous month and 13.8% year-on-year; garments edged up 4.4% over the previous month and 14.8% year-on-year; household appliances surged by 7.2% over the previous month and 13.7% year-on-year.

Supermarkets, shopping centres, traditional markets, and stores increased goods supply to meet the buying demand of people before the lunar New Year with purchasing power increased by about 30% compared to normal months, concentrating on sweetmeat and Tet gift baskets. Similarly, the purchasing power for home interior decor products also climbed swiftly.

Large distribution channels, including Saigon Co.op, Satra, Aeon-Citimart, and BigC, also ran several promotional campaigns, offering discounts from 5-49% on thousands of products, boosting purchasing power in the first month of this year.

As for import-export activities, the total export turnover of HCM City-based enterprises at border gates across the country was estimated at more than US$3.93 billion, down 5% compared to December last year but up 10.2% compared to the same period last year.

The total export turnover of HCM City-based enterprises via the border gate in the city was estimated at more than US$3.92 billion, an increase of 17.3% compared to the same period last year. If excluding crude oil, the figure was estimated at more than US$3.73 billion, up 19.4% over the same period last year.

Among products with higher export turnover, rice saw an increase of 25.1%; vegetables and fruits 22.6%; computers, electronic products, and electronic components 92.6%.

The import turnover of HCM City-based enterprises at border gates in the country was estimated at more than US$4.52 billion in January, down 8% compared to December last year but up 10.5% compared to the same period last year. The import turnover via ports in the city exceeded US$4.14 billion, down 4.1% compared to last month but up 17% compared to the same period last year.