Retail sales, services revenue up 8.5% in four months

By VNA   May 3, 2024 | 06:09 pm PT
Retail sales, services revenue up 8.5% in four months
Customers shop in a supermarket in Ho Chi Minh City. Photo by VnExpress/Thanh Tung
Retail sales and services revenue in the first four months of this year totaled VND2.06 quadrillion (VND81.06 billion), up 8.5% year-on-year, the General Statistics Office (GSO) said.

In April alone, the value was VND522.1 trillion, a rise of 9% from the same period last year, with food and foodstuff sales up 10.3%, household utensils 12.9%, garment 12.7%, lodging and catering services 19.1%, and tourism 57.6%.

In the four months, retail sales reached some VND1.59 quadrillion, up 7.1% year-on-year (up 4.4% if the price factor is excluded).

Sales of food and foodstuffs rose by 11.8%, household appliances 14.9%, garment 10.3%, vehicles (except cars) 0.1%, and cultural and educational products 17.8%. Revenue from accommodation and catering services was estimated at VND237.3 trillion, up 15.3% year-on-year.

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

Tourism revenue in the period was VND19.4 trillion, representing an increase of 49.3% from the corresponding time last year.

Meanwhile, revenue from other services stood at VND211.1 trillion, a year-on-year rise of 9.4%.

In an effort to promote consumption demand, the government has submitted a proposal to the National Assembly for extending the cut in value-added tax (VAT) from 10% to 8% on specific groups of goods and services from July 1 until the end of the year.

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