Seven-month retail sales boosted by growing consumption demand

Tuesday, 2018-07-31 11:58:39
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The consumption demand mainly focused on essential goods, including food and foodstuffs (illustrative image)
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NDO – Besides the impressive growth of the index of industrial production, trade and service activities were also bustling in the first seven months of this year due to increasing consumption demand.

According to the General Statistics Office (GSO), the total retail sale value of goods and services was estimated at VND371.5 trillion (US$15.97 billion) in July, up 1.6% over the previous month and up 13.3% over the same period in 2017.

Thus, the total retail sale value of goods and services in the first seven months of this year climbed to VND2,490 trillion (US$107.07 billion), an increase of 11.1% over the corresponding period last year.

Of which, the retail sale value of goods was reported at VND1,870 trillion (US$80.41 billion), accounting for 75.2% of the total retail sale revenue and up 11.7% compared to the same period in 2017.

The GSO reported that the consumption demand mainly focused on essential goods, including food and foodstuffs, with an annual increase of 12.6%, while apparels saw an annual rise of 12.4%, household equipment with an annual increase of 12.3% and cultural-educational products, up 10.3%.

Several localities posted high retail sale growth of over 12% including Thai Nguyen, Ho Chi Minh City, Thanh Hoa, Lam Dong, Binh Dinh, Bac Giang, Hanoi and Nam Dinh.