Vietnam’s total retail sales and service revenues are likely to increase 12.48% on year in 2013, the Ministry of Industry and Trade (MoIT) forecast.
In the second half of this year, domestic purchasing demand is foreseen to surge, versus the first half of the year on a number of holidays, vacation and many promotion programs, MoIT said.
In January-June 2013 period, the country’s total retail sales and service revenues were estimated to have increased to VND1,275.4 trillion ($60.63 billion), up 11.94% on year. The figure would be 4.9% increase if price hike factors are excluded.
In which, the services sector accounted for the highest on year growth level with15.38%; followed by hotel and restaurant sector with 14.48% and the trade sector with 11.25%. Tourism sector was only up 2.57%.
In June alone, the country’s total retail sales and service revenues are estimated to have fallen by 0.25% on month to reached VND212.247 trillion ($10.09billion). In which, the tourism sector posted the highest fall with -1.02% on month; followed by the trade sector with -0.28% on month decrease; hotel and restaurant group was down by -0.25%; services sector stood still in June, the General Statistics Office’s data showed.
Source StoxPlus.