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Retail sales reach US$8.4 billion in November
National retail sales were valued at around VND176.4 trillion (US$8.4 billion) in November, an increase of 1 percent against last month, according to the General Statistics Office (GSO).
Along with this figure, retail value over the past 11 months totalled VND1.810 trillion (US$86.4 billion), a year-on-year surge of 23.5 percent, the GSO says.
"Growth in the last two months outstripped achievements made between the start of the year and September," says Vu Manh Ha, a GSO economic expert.
Ha attributes the rise to people’s preparation for Tet and Christmas and the slowdown of the Consumer Price Index.
During the past 11 months, trade activities contributed 78.8 percent to the total retail value, a rise of 26.3 percent against the same period last year.
Retail value gained from the hotel and restaurant sectors accounted for 11 percent, a rise of 26.3 percent. Service value made up 9 percent of the total figure, a year-on-year surge of 11.7 percent.
Retail sales by State-owned enterprises during this period rose strongly on the increase of product volumes as part of the price-stabilisation program.
However, the number of retail shops decreased, contributing only 10.9 percent to the total national figure.
With the development of the distribution system, private companies contributed 34.9 percent to the national total while foreign invested companies managed to make only a 2.8 percent addition.
VOV
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