Retail and service revenue up 13.3 percent in Jan-Aug

Data released on September 3 by the National Statistics Office (Ministry of Finance) shows that total retail sales of goods and consumer service revenue reached over VND5.23 quadrillion ($200.6 billion) in the first eight months of 2026, up 13.3 percent year-on-year.

In specific terms, the state agency reported that retail sales of goods during the eight-month period were estimated at VND3.94 quadrillion ($151.1 billion), accounting for 75.4 percent of total sales and increasing 12.8 percent year-on-year.

By locality, several major provinces and cities recorded impressive retail growth compared to the same period last year.

Da Nang led the expansion with a 14.2 percent increase, followed by Quang Ninh at 13.9 percent. Can Tho and Hai Phong both posted 13.1 percent growth, while Hanoi and Ho Chi Minh City grew by 12.8 percent and 12.2 percent, respectively.

Alongside strong purchasing power for consumer goods, accommodation, food services, and travel sectors experienced significant acceleration.

Revenue from accommodation and catering services reached VND670.3 trillion ($25.7 billion) in the eight-month period, representing 12.8 percent of total retail and service revenue and climbing 16.4 percent year-on-year.

Key tourist destinations experienced sharp growth in accommodation and food service revenue. Da Nang led with a 21.4 percent surge, followed by Khanh Hoa 20.4 percent, Hue 20.2 percent, and Lam Dong 19.5 percent.

Other strong performers included Thanh Hoa up 17.5 percent, Hai Phong 16.8 percent, Can Tho 16.5 percent, Hanoi 14.4 percent, Ho Chi Minh City 13.9 percent, and Ca Mau 13.2 percent.

A major catalyst driving the broader service sector’s growth was the powerful rebound in tourism. Travel revenue in the eight-month period was estimated at VND68.7 trillion ($2.6 billion), accounting for 1.3 percent of the total and surging 17.1 percent year-on-year, underscoring tourism’s role as an essential engine of economic vitality.

This growth was strongly bolstered by international tourism. In January-August, foreign arrivals reached 15.9 million, up 14.4 percent year-on-year, underscoring tourism’s role as an essential economic driver.