Viet Nam's goods and services sector maintained impressive momentum during the first seven months of 2013 as total retail sales reached VND1,488 trillion (US$70.9 billion.—Photo vantaihanoi

HA NOI (Biz Hub)— Viet Nam's goods and services sector maintained impressive momentum during the first seven months of 2013 as total retail sales reached VND1,488 trillion (US$70.9 billion), representing a year-on-year increase of 12 per cent.

According to a General Statistics Office (GSO) report, the country's total retail sales reached VND213.3 trillion in July, up 0.4 per cent against the actualised figure in June and surging 12.83 per cent over the same period last year.

According to the GSO, the total retail sales in July increased due to a range of factors with stronger consumer demand one of the main drivers, while the consumer price index (CPI) is estimated to rise as a result.

Meanwhile other economic sectors posted growth of between 10-37 per cent year-on-year with the foreign-invested economic sector leading the charge, although it remains only a 3.3 per cent contributor to the common indicator.

Trade activities posted strong results, leaping 11.4 per cent, as did the hotel and restaurant sector with an increase of 14.7 per cent to VND179 trillion. Tourism meanwhile, rose 2 per cent to VND14.3 trillion. — VNS