August retail sales plunge as COVID-19 cases on rise
Total retail sales of goods and services in August slid 10.5 percent month-on-month and 33.7 percent year-on-year as a result of restrictions imposed to contain the ongoing COVID-19 resurgence, data from the General Statistics Office (GSO) shows.
Dozens of loaded trucks and container trucks queue for entering Can Tho on August 26 as the Mekong Delta city goes into social distancing state to contain the COVID-19 spread. (Photo: VNA)
Hanoi (VNA) – Total retail sales of goods andservices in August slid 10.5 percent month-on-month and 33.7 percentyear-on-year as a result of restrictions imposed to contain the ongoingCOVID-19 resurgence, data from the General Statistics Office (GSO) shows.
The spike in COVID-19 cases has forced many parts of thecountry to go into social distancing state under the Prime Minister’s DirectiveNo.16, bringing trade, travel and tourism to a grinding halt, according to theGSO.
This month, the transport sector carried more than 60.7 millionpassengers and nearly 91.1 million tonnes of goods, down 75.9 percent and 39.3percent, respectively, compared to the same period last year.
International arrivals were estimated at around 9,300, up24.4 percent month-on-month but 43 percent year-on-year.
In the first eight months of 2021, total revenue fromretail trade and services dropped 4.7 percent year-on-year to exceed 3.04 quadrillionVND (over 133.43 billion USD). The transport industry served over 1.92 billionpassengers and handled close to 1.07 billion tonnes of goods during the period,down 18.8 percent and 3.5 percent, respectively.
Foreign arrivals shrank 97.2 percent to just 105,000 overthe last eight months./.
Total retail sales of goods and services shrank 8.3 percent month-on-month in July to 339.4 trillion VND (14.84 billion USD) as a result of restrictions induced to stem the ongoing COVID-19 outbreak, according to the General Statistics Office (GSO).
I was surprised to receive a call from an American friend who lives in Singapore, asking about the pandemic situation in Ho Chi Minh City, Vietnam’s current COVID-19 epicentre with a daily record of thousands of cases.
The State Bank of Vietnam (SBV) has directed credit institutions to reduce some transaction fees from August 1 this year to support customers amid the outbreak of the latest COVID-19 pandemic.
A website featuring One Commune, One Product (OCOP) products of Hanoi has been launched, announced the city’s Coordination Office for New-style Rural Area Building on August 12.
Cross-border e-commerce has changed the way firms are doing business, with micro, small and medium sized enterprises (MSMEs) given more equal opportunities to access global market, said Vu Tien Loc, Chairman of the Vietnam Chamber of Commerce and Industry (VCCI).
The People’s Committee of Ho Chi Minh City has allowed shippers to resume operations in eight COVID-19 “red zones” under certain conditions from August 30.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
Dozens of loaded trucks and container trucks queue for entering Can Tho on August 26 as the Mekong Delta city goes into social distancing state to contain the COVID-19 spread. (Photo: VNA)
