Vietnam retail sales soar this year
In this article (4)
Vietnam retail sales soared 10.3 per cent in the first eight months of this year, according to figures released by the General Statistics Office.
Even after the effects of inflation were removed from the data, sales were up by 8.9 per cent, total spending estimated at US$114.7 billion.
The rise was higher than for the same period last year and underline the significant improvement in the local population’s disposable income levels.
Excluding hospitality and catering sales from the data, Vietnam retail sales totalled $86.1 billion, three quarters of the total trade. Strongly performing categories included apparel, appliances and food, up 14 per cent, 11.6 per cent and 10.6 per cent respectively.
Vietnam’s total retail market is forecast by the Association of Vietnam Retailers to reach US$179 billion by 2020.
Questions & Answers
Q.What was the total estimated spending on retail sales in Vietnam for the first eight months of this year?
What was the total estimated spending on retail sales in Vietnam for the first eight months of this year?
Total spending for the first eight months of this year was estimated at US$114.7 billion. This figure represents an 8.9 per cent increase even after accounting for inflation's effects.
Q.Which retail categories showed particularly strong performance during this period?
Which retail categories showed particularly strong performance during this period?
Apparel, appliances, and food categories demonstrated strong performance. Apparel sales were up 14 per cent, appliances rose 11.6 per cent, and food increased by 10.6 per cent.
Q.What is the forecast for Vietnam's total retail market value by the year 2020?
What is the forecast for Vietnam's total retail market value by the year 2020?
The Association of Vietnam Retailers forecasts that Vietnam's total retail market will reach US$179 billion by 2020. This indicates significant anticipated growth in the sector.
Reader pulse
What does Vietnam's retail growth signify?
21,738 votes so far