Retail sales of goods, services increase by 8.5% in February: GSO

Foreign tourists in HCM City. Revenue from accommodation and catering services rose by 14 per cent, while that from travel services surged by 35.8 per cent. — VNA/VNS Photo

Retail activities saw an 8.5 per cent increase in February with the total retail sales of goods and consumer service reaching VNĐ509.7 trillion (US$20.63 billion), according to the General Statistics Office (GSO).

The figure contributed to a year-on-year rise of 8.1 per cent in total retail sales of goods and revenue from consumer services in the first two months to VNĐ1.03 quadrillion. Of the total, retail sales of goods were estimated at VNĐ798.3 trillion, accounting for 77.4 per cent of the total and up 6. per cent over the same period last year (up 4.5 per cent if excluding the price factor).

Of which, retail revenue of food and foodstuffs rose by 10.8 per cent, while that of household appliances and tools was up 18.1 per cent, garment 9.8 per cent, vehicles (except cars) 1.8 per cent, and cultural and educational products 16.5 per cent.

Particularly, revenue from accommodation and catering services rose by 14 per cent, while that from travel services surged by 35.8 per cent.

Thanks to the favourable visa policies, tourism stimulus programmes as well as the efforts of the Government and people, the number of foreign visitors to Vietnam in February reached more than 1.5 million, up 1.3 per cent over the previous month and 64.1 per cent over the same period last year. The number for the first two months of this year hit more than three million, an increase of 68.7 per cent over the same period last year.

As a result, revenue from tourism services in the first two months of this year reached VNĐ9 trillion.

Meanwhile, revenue from other services was estimated at VNĐ105.9 trillion, accounting for 10.2 per cent of the total and increasing 9.7 per cent over the same period last year.

Economists held that the shopping season during the Tết (Lunar New Year) festival was a leverage for retailers to boost domestic demand and increase revenue right from the beginning of the year. The business outcomes in Tết also showed the consumption trend of the year, helping enterprises decide their market development strategies and business plans for the year, they added. — VNS