October 08, 2024 | 06:30 GMT+7

Retail sales show steady growth in nine-month period

Vũ Khuê -

For the first nine months of 2024, retail sales grew by 8.8% compared to the same period last year.

Illustrative Photo
Illustrative Photo

Vietnam's retail sales of consumer goods and services continued their upward trajectory in September, with total retail sales increasing  by 1.2% compared to the previous month and by 7.6% year-over-year, according to the General Statistics Office.

For the first nine months of 2024, retail sales grew by 8.8% compared to the same period last year. Accommodation and catering services saw a 13.6% increase in revenue, while travel and tourism services experienced a significant rise of 16.7%.

In terms of total revenue, retail sales from January to September reached VND3.6 quadrillion ($146.59 billion), representing a 7.9% year-on-year increase. Excluding price factors, the growth rate was estimated at 5.4%.

The hospitality and catering sector generated VND543 trillion ($21.9 billion) in revenue during the first nine months, up 13.6% from the previous year. Travel and tourism services contributed VND45.6 trillion ($1.84 billion), a 16.7% increase driven by proactive promotional efforts by local authorities.

Other services accounted for VND484.6 trillion ($19.6 billion) in revenue, growing by 9.2% compared to the same period in 2023.

While the overall growth rate of retail sales in 2024 has been positive, it has not yet reached pre-pandemic levels, the General Statistics Office noted. Nevertheless, the scale of retail sales has shown substantial growth compared to the previous two years.

 

Attention
The original article is written and published on VnEconomy in Vietnamese only. To read the full article, please use the Google Translate tool below to translate the content into your preferred language.
VnEconomy is not responsible for the translation.

Google translate