Retailing and Services Booming in Vietnam

PUBLISHED: 31 July 2024

AUTHOR: Teuvo Tuomi

Vietnam's retail sales and services revenue in the first seven months of this year totaled about VNĐ3.6 quadrillion (US$143.2 billion), up 8.7% year-on-year, the General Statistics Office (GSO) reports.

In July alone, the value was VNĐ528.3 trillion, a rise of 9.4% from the same period last year, with food sales up 12.1% and tourism 6.8%.

In the seven months, retail sales reached some VNĐ2.8 quadrillion, up 7.4% year-on-year (up 4.3% if the price factor is excluded).

To stimulate consumption, localities have been stepping up trade promotion activities including the Hanoi Department of Industry and Trade which organized a July Promotion Day fair for five days at Times City Urban Area, in Hai Ba Trung District.

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