Viet Nam’s retail sales of goods and services in July are estimated at VND486 trillion (US$20.8 billion), up 2.4 per cent month-on-month, and 42.6 per cent year-on-year, according to the General Statistics Office (GSO).

In the first seven months, total retail sales are estimated at VND3.2 quadrillion, up 16 per cent compared to last year. Of the total, the revenue from the retail sale of commodities in the period is estimated at VND2.55 quadrillion, up 13.7 per cent year-on-year.

Notably, the seven-month revenue from accommodation and catering services is VND324.9 trillion, up 37.5 per cent year-on-year, thanks to increasing demand for travel after a two-year hiatus due to the pandemic. Revenue from this kind of service in July enjoyed a year-on-year surge of 134.7 per cent.

From January to July, travel and tourism activities also produced a revenue of VND11.9 trillion, a 2.7-fold rise against the same period last year.

The sale of other services during the period is estimated at VND312.6 trillion, up 13.9 per cent year-on-year.

To promote consumption, the GSO proposes the Ministry of Industry and Trade closely monitor the fluctuations of the world and domestic prices, proactively recommend appropriate response solutions, and coordinate with ministries and sectors to guide enterprises to make more use of signed free trade agreements, especially the Regional Comprehensive Economic Partnership. — VNS