Retail sales, services revenue up 8.5 per cent in four months

Saturday, May 04, 2024 09:09

Sales of food and foodstuffs rose by 11.8 per cent, the GSO has reported. — VNA/VNS Photo

Retail sales and services revenue in the first four months of this year totaled VNĐ2.06 quadrillion (US$81.06 billion), up 8.5 per cent year-on-year, the General Statistics Office (GSO) said.

In April alone, the value was VNĐ522.1 trillion, a rise of 9 per cent from the same period last year, with food and foodstuff sales up 10.3 per cent, household utensils 12.9 per cent, garment 12.7 per cent, lodging and catering services 19.1 per cent, and tourism 57.6 per cent.

In the four months, retail sales reached some VNĐ1.59 quadrillion, up 7.1 per cent year-on-year (up 4.4 per cent if the price factor is excluded).

Sales of food and foodstuffs rose by 11.8 per cent, household appliances 14.9 per cent, garment 10.3 per cent, vehicles (except cars) 0.1 per cent, and cultural and educational products 17.8 per cent. Revenue from accommodation and catering services was estimated at VNĐ237.3 trillion, up 15.3 per cent year-on-year.

The office said favourable visa policies and tourism stimulus programmes have proven effective, helping lure nearly 1.6 million international visitors in April, up 58.2 per cent year-on-year, and 6.2 million in the four months, up 68.3 per cent.

Tourism revenue in the period was VNĐ19.4 trillion, representing an increase of 49.3 per cent from the corresponding time last year.

Meanwhile, revenue from other services stood at VNĐ211.1 trillion, a year-on-year rise of 9.4 per cent.

To ensure the supply of essential goods and boost the domestic market in the remaining months, the GSO suggested the Ministry of Industry and Trade (MoIT) further review, amend and perfect legal documents regarding State management of the domestic market.

The MoIT should continue its coordination with other ministries, agencies and localities in monitoring market developments, and providing consultations in price management, it said.

In an effort to promote consumption demand, Minister of Finance Hồ Đức Phớc, authorised by the Prime Minister, submitted a proposal to the National Assembly for extending the cut in value-added tax (VAT) from 10 per cent to 8 per cent on specific groups of goods and services from July 1 until the end of the year. — VNS

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