Hanoi (VNA) - Recovery in domestic consumption and production demand, along with strong development in tourism, have contributed positively to the growth of the trade and service sector in the first nine months of 2024, according to General Director of the General Statistics Office (GSO) Nguyen Thi Huong.
The office’s report shows that the total retail sales of consumer goods and services enjoyed an estimated year-on-year rise of 8.8% to 4.7 trillion VND (189.1 million USD) in the period.
Of the total, revenue from retail sales of goods was estimated at 3.63 trillion VND, up 7.9% year-on-year. Sales of food and foodstuffs rose by 10.6%, household appliances and tools 9.3%, both apparel and cultural and educational products 9.1%, vehicles (except cars) 5.4%.
Localities seeing increases in the retail sales of goods in the reviewed period included Quang Ninh (10.4%), Hai Phong (9.3%), Can Tho (7.7%), Da Nang (7.4%), Ho Chi Minh City (7.2%), and Hanoi (7%).
In January-September, revenue from accommodation and catering services was estimated at 543 trillion VND, up 13.6% year-on-year, while tourism and travel services earned an estimated 45.6 trillion VND, up 16.7%. The GSO attributed these increases to localities’ efforts to accelerate promotion activities to attract both domestic and foreign visitors since the beginning of this year.
In September alone, the total retail sales of consumer goods and services was estimated at 535.8 trillion VND, up 1.2% month-on-month and 7.6% year-on-year, said the GSO.
To ensure the supply of essential goods and develop the domestic market in the remaining months of this year, the office recommended the Ministry of Industry and Trade to speed up the review, amendment, and perfection of several legal documents to support state management over the domestic market to effectively serve macroeconomic management as well as the trading activities of citizens and businesses.
🦂 There should be continued coordination between ministries, sectors and localities to closely monitor market developments, and ensure a sufficient supply of essential items to meet public demand and prevent shortages or price spikes, it added./.
Total retail sales up 8.5% in eight months
The total retail sales of goods and services increased by 8.5% to nearly 4.15 quadrillion VND (169.7 billion USD) in the January – August period thanks to improving consumption, production and tourism, according to the latest updates of the General Statistics Office (GSO).
