Vietnam’s retail sales, service revenue grows 6.4% in first month of 2021

Updated: 09:38, 02/02/2021

Vietnam’s total retail sales and consumer service revenue in the first month of 2021 were estimated to have reached VND479.9 trillion (US$20.8 billion), up 3.7% over the previous month and representing a 6.4% increase compared to the same period last year.

Specifically, the country’s retail sales stood at VND378.9 trillion (US$16.4 billion), accounting for 79% of the total and rising by 4.1% compared to December 2020 and by 8.7% year-on-year, with sales of food and foodstuffs growing by 5.3% and 14.9%, respectively; apparel up 6.2% and 9.6%; means of transportation increasing by 3.3% and 10%; cultural and educational items up 2.3% and 14.3%; and home appliances surging by 4.3% and 13%.

Vietnam's retail sales in January 2021 increase by 8.7% compared to the same period last year.

Some localities reported moderate year-on-year growth in retail sales, such as Hai Phong City (up 12.2%), Ho Chi Minh City (up 12%), Hanoi (up 10.1%), Can Tho City (up 9.9%), and Da Nang City (up 3.9%).

Vietnam’s accommodation and restaurant revenue in January totalled VND48.7 trillion (US$2.1 billion), representing 10.1% of the total, up 2.7% from the previous month, but down 4.1% over the same period in 2020. Bac Ninh Province posted the largest year-on-year increase with 28.6%, followed by Ba Ria-Vung Tau (up 28.2%), Quang Ninh (up 17.3%), Can Tho (up 15.6%), Thanh Hoa (up 14%), Hai Phong (up 11.8%), and Hanoi (up 10%).

Meanwhile, the country’s tourism turnover stood at VND1.6 trillion (US$69.26 million), accounting for 0.3% of the total, up 0.7% month-on-month and down 62.2% compared to January 2020, with the revenue of Thanh Hoa growing by 14.4% year-on-year, Quang Ninh up 13.1%, Hai Phong up 2.7%, Hanoi down 45.6%, Can Tho down 50.1%, Da Nang down 68.2%, Ho Chi Minh City down 69.9%, Quang Nam down 91.3%, and Khanh Hoa down 95%.

Vietnam earned an estimated VND50.7 trillion (US$2.19 billion) from other services last month, equal to 10.6% of the total, up 1.1% from December 2020, and an increase of 7.3% over the same period last year.

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