Customers shop at the Ben Thanh Market in HCM City. Total revenue from retail trade and services reached approximately US$48.5 billion in the first four months of this year. — VNA/VNS Photo Thanh Vu

HA NOI  (Biz Hub) — The total revenue from retail trade and services reached approximately US$48.5 billion during the first four months of this year, the General Statistics Office (GSO) said.

The figure represents a year-on-year rise of 8.8 per cent, GSO said, adding that the increase would be 8 per cent if inflation was excluded.

The total retail sales growth (inflation excluded) during the period was fairly higher than what was recorded during the four months of 2014 at 5.5 per cent, four months of 2013 at 4.6 per cent and four months of 2012 at 6.6 per cent, GSO noted.

GSO statistician Vu Manh Ha attributed such encouraging growth to a slumping consumer price index (CPI). The average CPI growth for the first four months was 0.13 per cent, compared to 0.22 per cent; 0.60 per cent and 0.64 per cent seen during the same periods of 2014, 2013 and 2012, respectively.

From January to April, the non-State owned sector accounted for the largest share of the nation's total retail sales revenue at 85.7 per cent or more than $41.57 billion.

Ha also predicted that the total revenue for retail trade and services was likely to increase in the coming time, owing to several upcoming and long holidays, which were expected to improve revenue earned from tourism and services. — VNS