According to statistics from the General Statistics Office, the total retail sales of goods and consumer services in August 2024 are estimated at VND 526.6 trillion at current prices, up 7.9% over the same period last year. In particular, food and foodstuffs increased by 8.2%; household appliances, tools, and equipment by 6.5%; garments by 8.2%; accommodation and catering services by 9.7%; and travel services by 7.1%.
Total retail sales of goods and consumer services at current prices from January to August 2020-2024
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For the first eight months of 2024, the total retail sales of goods and consumer services at current prices were estimated at VND 4,148.4 trillion, up 8.5% over the same period last year (the same period in 2023 increased by 10.3%). Excluding the price factor, the increase was 5.3% (the same period in 2023 increased by 8.0%).
Retail sales of goods in the first eight months of 2024 were estimated at VND 3,199.7 trillion, accounting for 77.1% of the total and up 7.3% over the same period last year (excluding the price factor, the increase was 4.6%). Notably, food and foodstuffs increased by 10.2%; household appliances, tools, and equipment by 10.1%; garments by 8.7%; means of transport (excluding automobiles) by 4.0%; and cultural and educational items by 9.6%. Some localities with remarkable year-on-year increases in retail sales of goods in the first eight months of 2024 include Quang Ninh (10.6%), Hai Phong (9.3%), Can Tho (7.7%), Da Nang (7.6%), Ho Chi Minh City (6.8%), and Hanoi (6.3%).
The revenue from accommodation and catering services in the first eight months of 2024 was estimated at VND 481.2 trillion, accounting for 11.6% of the total and up 14.3% over the same period last year. Several localities with notable year-on-year increases in revenue from accommodation and catering services during this period include Quang Ninh (29.1%), Da Nang (23.3%), Thanh Hoa (21.5%), Khanh Hoa (19.1%), Hai Phong (15.1%), Can Tho (11.9%), Hanoi (11.4%), Ho Chi Minh City (8.9%), and Binh Duong (7.9%).
The revenue from travel services in the first eight months of 2024 was estimated at VND 40.9 trillion, accounting for 1.0% of the total and up 26.2% over the same period last year. Some localities with significant year-on-year increases in travel service revenue include Ho Chi Minh City (42.2%), Da Nang (38.6%), Can Tho (33.7%), Hanoi (29.7%), Quang Ninh (21.0%), and Binh Duong (18.5%).
The revenue from other services in the first eight months of 2024 was estimated at VND 426.6 trillion, accounting for 10.3% of the total and up 9.4% over the same period last year. Several localities with notable year-on-year increases in revenue from other services include Khanh Hoa (22.8%), Can Tho (10.4%), Hanoi (8.0%), Ho Chi Minh City (7.0%), Bac Lieu (-1.0%), and Quang Ninh (-1.9%).
The Ultimate Guide to Retail: Unlocking the Secrets to $2.58 Trillion in Sales
According to the recently released report by the General Statistics Office, in the first five months of 2024, the total retail sales of consumer goods and service revenue increased by 8.7% compared to the same period last year. Notably, revenue from accommodation and catering services witnessed a significant surge of 15.1%, while travel agency revenues climbed an impressive 45.1%.
Retail Sales and Consumer Services Revenue in January 2024 Increase by 8.1% YoY
With the approach of Tet Lunar New Year in January, commercial and service activities are bustling to meet the consumer demand. The total retail sales of goods and consumer services in January 2024 are estimated to increase by 8.1% compared to the same period last year.
