Vietnam Retail Sales and Service Revenue Expand 22.6% in Q1 2011

Vietnam’s total retail sales and service revenue is estimated to have accelerated 22.6% on-year to VND451.8 trillion, even strong inflation

Vietnam’s total retail sales and service revenue is estimated to have accelerated 22.6% on-year to VND451.8 trillion, even strong inflation, in the first quarter of this year, the General Statistics Office of Vietnam (GSO) said.

In details, the trade sector rose by 22.6% on-year to VND356.8 trillion. Meanwhile, the service revenue increased by 19.5% on-year to VND39.9 trillion, the hotel and restaurant sector and the tourism posted an increase of 24.7% on-year to VND50.5 trillion and 23.2% on-year to VND4.7 trillion, respectively.

In March alone, retail sales and service revenue is estimated to increase by 2.2% on month to VND150.2 trillion although the price hike of electricity and fuel boosted domestic price level this month.

Meanwhile Vietnam’s consumer price index in the first quarter is estimated to have surged 6.12% on-year, compared with the 2011 inflation target of 7%, the GSO said.

Last year, total retail sales and services revenue surged by 24.5% year on year to VND1,561 trillion (roughly $78 billion) in 2010, or VND1,100 trillion higher than the target. – Stoxplus.com

Tags: Vietnam Retail Sales