Vietnam’s retail and consumer services down 2.7% in August

Monday, 2020-08-31 16:39:44
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Retail sales and consumer services have been hit hard by the coronavirus.
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NDO - Revenue from retail sales and consumer services in August fell by 2.7% against the previous month as the resurgence of the coronavirus knocked domestic demand.

Accommodation & food and travel services were the hardest hit, falling by 14.7% and 61.8%, respectively, compared with July.

After more than three months without any domestic transmission of Covid-19, a new outbreak in late July has dealt a strong blow to the already weakened tourism industry, which was only just beginning to recover.

Overall, retail sales and consumer services in the first eight months fell by a slight 0.02% over the same period of 2019.

A breakdown shows retail sales rose by 4% from last year, primarily driven by revenue from food, but accommodation and food services shrank by 16.4%, mostly in Khanh Hoa, Quang Nam and Ba Ria-Vung Tau.

Travel suffered the biggest drop at 54.4% as tours and cultural events were cancelled and many tourist sites were closed due to the coronavirus.

The largest contraction in travel revenues was recorded in Khanh Hoa, Ho Chi Minh City, Ba Ria-Vung Tau and Quang Nam.