Retail sales, services drop after Tết

Live Quote: On

RSS

My Page | Contact Us

RSS

RSS

Company A-Z | Stock Screener | My Portfolios | Streaming Quotes | Technical Analysis

Investing Tools

Useful Links

Tuesday, May 7, 2024 1:41:06 PM - Markets open

VN-INDEX

1,246.29

+4.71/+0.38%

HNX-INDEX

231.89

-0.40/-0.17%

UPCOM-INDEX

90.69

+0.04/+0.04%

Retail sales, services drop after Tết

Vietnam News - 3/3/2017 9:07:30 AM

(0 ratings. You must sign in to rate.)

Print |

Add To Favorites |

Email |

RSS

The country’s total retail sales and services revenue this February crossed VNĐ309.3 trillion (US$13 billion), data from the General Statistics Office (GSO) has revealed.

The figure is a 6.5 per cent decrease from the previous month, but posts a 7.2 per cent year-on-year rise, GSO said.

GSO statistician Vũ Mạnh Hà explained that the drop in retail sales and services revenue in February was because Tết (Lunar New Year) fell in January, when people spent a lot.

That’s the reason the total retail sales last month, which accounts for three-fourth of the total purchasing power, dropped 7.6 per cent compared to the previous month.

The first two months of the year have seen a total retail sales and services revenue of VNĐ604 trillion, which is a 5.6 per cent year-on-year increase, if rise in prices are ignored.

Retail sales saw a relatively high growth of 9.7 per cent compared to the same two-month period last year, to reach VNĐ487.4 trillion.

Products that saw an increase in sales include food and foodstuff (10 per cent), garments and textiles (9.6 per cent), transport (9.4 per cent) and home appliances (7.7 per cent). Culture, tourism and educational products saw a low increase of 5.1 per cent.

The hotel-restaurant sector also posted a low growth rate of 4.2 per cent in the first two months of the year, compared to the same period in 2016.

The total revenue earned by the hotel-restaurant sector in Hà Nội and HCM City saw a 4.1 per cent and 3.2 per cent year-on-year decrease, respectively. A decline was also recorded in places such as Quảng Ninh (37 per cent), Lào Cai (30 per cent), Quảng Bình (15.2 per cent), Phú Yên (29.4 per cent) and Lai Châu (8 per cent).

Newer News
06/05	Việt Nam leads in export rice prices globally
02/05	CPI in April inches up 0.07%
02/05	Trade surplus hits $8.4 billion in four months: GSO
02/05	Foreign investment disbursement hits record high in the first four months
02/05	Difficulties faced in negotiations of power purchase agreements: EVN
02/05	Agro-forestry-aquatic product exports post trade surplus of US$4.74 billion in four months
24/04	VN's economy forecast to grow by 5.5 per cent in 2024
24/04	EVN seeks PM's solutions for solving challenges in PPA negotiations
24/04	Standard Chartered revised down Việt Nam’s 2024 GDP growth forecast to 6%
24/04	Vietnamese PM outlines three key breakthroughs for ASEAN's path to digital excellence

Older News
02/03	VN industrial production lagging
02/03	Wood product exporters ready to expand global market share
02/03	Deputy PM wants more international integration
01/03	New lending regulations worry small firms
01/03	Double taxation avoidance pact with US approved
01/03	Slight rise in February CPI
27/02	Samsung’s 2.5b USD expansion approved
27/02	ANZ predicts robust VN growth
27/02	Vegetable, fruit exports to struggle
24/02	Rice exporters rail against storage minimum

Newsletter Signup

Top Stories

	Cautious rise amid low supply and cash flow, investors advised to monitor resistance area
	Interest rates to rise but not have major impact on stock market: economist
	Businesses concerned about rising exchange rate pressure
	Gold bar auction to be resumed after 11 years of suspension
	PM Chính requires strengthened gold market management