Consumers shop at Big C Thang Long Supermarket in Ha Noi. Vietnamese retail revenue continued its stable momentum during the first 11 months of this year. — VNA/VNS Photo Tran Viet

HA NOI (Biz Hub) — Vietnamese retail revenue continued to rise during the first 11 months of this year, reaching VND2.95 quadrillion (US$134 billion), a year-on-year increase of 9.4 per cent.

With price increases excluded, the rise was in fact only 8.3 per cent, according to the General Statistics Office (GSO).

In the last 11 months, all four retail goods and services saw an increase over the same period last year. The retail sector taking the lead accounted for 76.2 per cent of the total retail sales, bringing in revenue of $102 billion, or an increase of 10.7 per cent.

It was followed by retail sales in accommodation, restaurant and catering services accounting for 11.5 per cent of the total, posting a revenue of $15.353 million with an increase of 4.6 per cent.

Other service sectors including weddings, funerals, and spa and beauty, accounted for 11.4 per cent, bringing total revenue of 6.9 per cent, while the tourism sector accounted for 0.9 per cent of the total retail sales.

GSO expert Vu Manh Ha said that total retail sales reflects the improvement of purchasing power and stable growth due to falling prices in some consumer goods and many promotional programmes offered by supermarkets.

In addition, the commercial management and price stabilisation policy offered by the State have been effectively deployed to contribute a part in stabilising the market in the remaining months of the year, Ha said.

According to the GSO, the total retail sales may improve sharply in the last months of the year due to the high consumption months with many festivals and holidays. — VNS