HÀ NỘI — Việt Nam's total retail sales of consumer goods and services reached nearly VNĐ6.4 quadrillion (US$252 billion) in 2024, marking a year-on-year increase of 9 per cent, according to the General Statistics Office (GSO).

Of this total, revenue from retail sales of goods were estimated at VNĐ4.9 quadrillion, an 8.3 per cent increase compared to the previous year. Key categories saw notable growth, with food and foodstuffs up 10.8 per cent, household appliances and tools rising 3.6 per cent, garments increasing by 8.4 per cent, vehicles (excluding cars) up 5.4 per cent, and cultural and educational products growing by 9.1 per cent.

GSO General Director Nguyễn Thị Hương highlighted that efforts to promote domestic market development and stimulate consumption during the last months of 2024 contributed significantly to the growth of the trade and service sector. As a result, total retail sales of goods and consumer services in the fourth quarter of 2024 increased by 9.3 per cent compared to the same period last year.

In December alone, retail sales were estimated at VNĐ570.7 trillion, up 1.9 per cent from the previous month and surging 9.3 per cent year-on-year.

Đinh Thị Thúy Phương, Director of the Department of Trade and Service Statistics under the GSO, attributed these results to the Government's strong directions to ministries, agencies and localities. Efforts to boost production, stimulate consumption and develop the domestic market helped address challenges in manufacturing and business activities.

She noted that the reduction in VAT for essential goods and the adjustment to increase the basic salary from July 1 contributed to the growth in total retail sales of goods and consumer services in 2024.

The import of consumer goods in 2024 also rose by 20.6 per cent compared to the previous year, reflecting a recovery in domestic consumption demand, Phương added.

Several localities recorded notable increases in retail sales of goods, including Quảng Ninh (9.7 per cent), Hải Phòng (9.6 per cent), Cần Thơ (7.8 per cent), Đà Nẵng (7.2 per cent), Hà Nội (6.6 per cent) and HCM City (5.2 per cent).

Revenue from accommodation and catering services totalled nearly VNĐ734 trillion, up 13 per cent year-on-year, while tourism and travel services generated VNĐ62.5 trillion, a 16 per cent increase compared to 2023.

The GSO also reported a significant rise in the number of visitors to Việt Nam in 2024. Nearly 17.6 million foreign arrivals were recorded, a 39.5 per cent increase from 2023 and equal to 97.6 per cent of the pre-pandemic level in 2019. This surge positively impacted domestic service sectors, particularly accommodation, food and beverage services, transport, retail and travel.

In December alone, Việt Nam welcomed 1.75 million international visitors, up 27.4 per cent compared to the same period last year. Meanwhile, 363,100 Vietnamese citizens travelled abroad, a 3.1 per cent increase year-on-year. — VNS