Retail sales, services revenue sees year-on-year rise of 11.05 percent

Retail sale and consumer service revenue in March amounted to VND85,248 billion ($3.7 million), an increase of 3.33 percent compared to February, reported The Department of Industry and Trade in Ho Chi Minh City.


Retail sales, services revenue sees year-on-year rise of 11.05 percent

It was estimated that in the first three months of the year, total revenue of retail sale and service reached VND254,491 billion, finishing 24.7 percent of the plan for 2018, a year-on year rise of 11.05 percent.

Of which, retail turnover wass estimated VND165.429 billion, an increase of 10,97 percent compared to the same period last year.

As per the Department’s forecast, by the first quarter, the growth speed of retail sale and services revenue will achieve 11.5 percent – 12 percent, partly thanks to state employees’ higher salary according to the Prime Minister’ decision which takes effect on July 1, 2018.  Moreover, there has been a rise in wage of retirees and social welfare allowance.

The Department said there has been positive sign in the field of exports. Revenue of exports in HCMC in the first three months amounted to $8.83 billion, a hike of 10.56 percent including rude oil.

Agriculture, forestry, fishery revenue posted a year-on-year rise of 23.8 percent with $1.23 billion. Coffee, fishery, rice, vegetables and cashews saw a year-on-year increase  of 24.3 percent, 23.1 percent, 21.7 percent, 41.3 percent and 52.7 percent respectively while industry revenue reached $5.98 billion, a climb of 17.6 percent.

Wood firms have huge orders in the first months of the year. Consumers prefer Vietnamese-made wooden items; accordingly, it is an opportunity for the sector.

By HAI MIEN - Translated by UYEN PHUONG

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