Nation's retail sales up 11.7% in month before Tet

Friday, 2016-01-29 18:05:08
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The retail sales of goods reaches VND226.6 trillion (US$10.2 billion), up 12% from last year.
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NDO/VNA - Vietnam's retail sales of goods and services were estimated at VND297.7 trillion (US$13.4 billion) in January, up 11.7% from the same period last year, data from the General Statistics Office (GSO) revealed.

The retail sales of goods, which account for 76.1% of the total sales, reached VND226.6 trillion (US$10.2 billion), up 12% from last year. Of which, garments and textiles are estimated to have increased 12.9%; and food and foodstuffs, 11.5%.

Retail sales growth was triggered by the increasing demand in preparation for the Lunar New Year (Tet), the GSO said.

In the reviewed month, Vietnam saw 8,320 new enterprises begin operations, with total capital of VND59.3 trillion (US$2.7 billion), representing a 21.2% year-on-year increase in the number of new businesses, and an 87% year-on-year increase in capital.

More than 4,870 firms resumed operations, up 69.6% against the same period last year.

According to the GSO, this January had the highest number of firms resuming operation in the past few years, adding that the numbers in January 2014 and January 2015 were 2,375 and 2,872 firms, respectively.

However, the number of firms that have either suspended or shut down operations in the month was also high.

In January, the number of enterprises that completed disclosure procedures and shut down operations rose by 34.7% to 1,338. Most of the firms were small-sized, with registered capital of less than VND10 billion (US$456,600) each.

Further, companies that have declared a temporary suspension of operations numbered 12,456, up 27.5% year-on-year.