Vietnam’s total retail sale and service revenues saw a year-on-year increase of 9.3 percent to some 2,896.6 trillion VND (126 billion USD) in the first ten months of 2016.
Hanoi (VNA) – Vietnam’s total retail sale and service revenues saw a year-on-year increase of 9.3 percent to some 2,896.6 tril🅘lion VND (126 billion USD) in the first ten months🔴 of 2016, according to the General Statistics Office (GSO).
However, the growth rate was still lower than the 9.7 percent recorded during the first ten months of 2015, it reported.
If inflation was excluded, the amount in the first ten months this year marked an increase of 7.4 percent, lower than the rate of 8.5 percent in the first ten months of 2015. GSO’s expert Vu Manh Ha said the reduction in the growth rate of the total retail sales and service revenues in the first ten months was due to rain and floods in the central region, as well as drought in the southern region.
The weather conditions caused a drop in construction and housing repairs, while construction prior to the new school year ended, leading to a drop in the purchasing power of society.
Meanwhile, the consumer price index in the first ten months this year had an average growth rate of 2.27 percent year on year, higher than the average rate of 0.63 percent in the first ten months of 2015, Ha said. Therefore, the people must tighten additional consumer spending.
In October, retail sales and service revenues saw a small increase of 0.8 percent month-on-month to 295.35 trillion VND.
The total retail revenue of essential goods during the first ten months had a high growth rate of 9.3 percent to 2,201 trillion VND against the same period last year, while spending for tourism services rose by 6.8 percent to 270 trillion VND.
Ha said there would be many factors to push total retail sales and service revenues up in the two final months of the year, including Christmas, calendar and lunar new year holidays, buying clothes for winter, and spending for health care services during the winter.-VNA
The total revenue from retail trade and services hit 89.6 billion USD during the first seven months of this year, up 9.4 percent year-on-year, according to the General Statistics Office (GSO).
The total revenue from retail trade and services topped 118.4 billion USD during the first nine months of this year, surging 9.5 percent year-on-year, according to the General Statistics Office (GSO).
Total retail sales of goods and services in October hit 295.35 trillion VND (about 13.2 billion USD), up 0.9 percent against the previous year and representing a year-on-year increase of 9.3 percent.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Illustrative image (Source: YuMe.vn)
