Vietnam retail sales surge ahead of Lunar New Year

Total retail sales of goods and revenue from consumer services in January are estimated at 479.9 trillion VND (nearly 20.77 billion USD), up 3.7 percent month-on-month and 6.4 percent year-on-year, according to the General Statistics Office (GSO).

Goods-retail sales totaled 378.9 trillion VND, accounting for 79 percent of the total and up 4.1 percent month-on-month and 8.7 percent year-on-year.

Revenue from accommodation and food service stood at around 48.7 trillion VND, representing 10.1 percent of the total. It increased 2.7 percent against December but was down 4.1 percent against January 2020.

Tourism revenue was around 1.6 trillion VND, or 0.3 percent of the total, up 0.7 percent compared to December but down 62.2 percent year-on-year.

Earnings from other services were estimated at 50.7 trillion VND, accounting for 10.6 percent of the total and up 1.1 percent month-on-month and 7.3 percent year-on-year.

The GSO said retail sales and consumer services have become more vibrant as the Lunar New Year (Tet) holiday nears.

Most enterprises, shopping centers, supermarkets, and business establishments have readied an abundant supply of goods and offered various promotional programs to stimulate consumption ahead of the lunar new year, the office noted.