Growth in Retail Goods and Consumer Service Revenues Fueled by Tourism

Total retail goods and consumer services revenue in April 2024 rose 2% from the previous month and 9% year-over-year, boosted by contributions from the tourism sector.

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According to data from the General Statistics Office, the total retail sales of goods and consumer services revenue in April 2024 increased by 2% compared to the previous month and by 9% compared to the same period last year thanks to the positive contribution of the tourism sector .

The total retail sales of goods and consumer services revenue in April 2024 increased by 2% compared to the previous month and by 9% compared to the same period last year thanks to the positive contribution of the tourism sector

In the first four months of 2024, the total retail sales of goods and consumer services revenue increased by 8.5% compared to the same period last year, including a 15.3% increase in revenue for the accommodation and catering services, and a 49.3% increase in tourism revenue.

Specifically, the total retail sales of goods and consumer services revenue at current prices in April 2024 reached 522.1 trillion VND, a 9% increase compared to the same period last year, including a 10.3% increase in the food and beverage group, a 12.9% increase in household appliances, and a 12.7% increase in clothing, a 19.1% increase in accommodation and catering services, and a 57.6% increase in tourism.

In the first four months of 2024, the total retail sales of goods and consumer services revenue at current prices reached an estimated 2,062.3 trillion VND, an 8.5% increase compared to the same period last year (an increase of 13.3% in the same period in 2023), excluding the 5.3% price increase factor (an increase of 8.7% in the same period in 2023).

Retail revenue of goods in the first four months of 2024 reached an estimated 1,594.5 trillion VND, accounting for 77.3% of the total and an increase of 7.1% compared to the same period last year, excluding the 4.4% price increase factor. In which, the food and beverage group increased by 11%, household appliances increased by 14.9%, clothing increased by 10.3%, means of transportation (excluding automobiles) increased by 0.1%, cultural and educational items increased by 17.8%.

Retail revenue of goods in the first four months of 2024 compared to the same period last year of some localities is as follows: Quang Ninh increased by 9.6%; Hai Phong increased by 9.4%; Can Tho increased by 7.8%; Binh Duong increased by 7.7%; Dong Nai increased by 6.9%; Da Nang increased by 6.8%; Ho Chi Minh City increased by 6.4%; Hanoi increased by 5.3%.

Retail revenue of goods in the first four months of 2024 reached an estimated 1,594.5 trillion VND, accounting for 77.3% of the total and an increase of 7.1% compared to the same period last year

Revenue from accommodation and catering services in the first four months of 2024 reached an estimated 237.3 trillion VND, accounting for 11.5% of the total and an increase of 15.3% compared to the same period last year. The revenue in the first four months of 2024 compared to the same period last year of some localities is as follows: Da Nang increased by 23.2%; Quang Ninh increased by 22.3%; Hai Phong increased by 14.5%; Ho Chi Minh City increased by 12.6%; Hanoi increased by 12.5%; Can Tho increased by 9.1%.

Tourism revenue in the first four months of 2024 reached an estimated 19.4 trillion VND, accounting for 1.0% of the total and an increase of 49.3% compared to the same period last year. The revenue in the first four months of 2024 of some localities increased quite strongly compared to the same period last year, such as: Khanh Hoa increased by 158.5%; Da Nang increased by 98.5%; Binh Dinh increased by 60.6%; Ho Chi Minh City increased by 58.7%; Can Tho increased by 57.7%; Hanoi increased by 49.0%; Quang Ninh increased by 16.5%; Binh Duong increased by 14.7%.

Other service revenue in the first four months of 2024 reached an estimated 211.1 trillion VND, accounting for 10.2% of the total and an increase of 9.4% compared to the same period last year. The revenue in the first four months of 2024 of some localities is as follows: Lao Cai increased by 26.5%; Kien Giang increased by 23.4%; Thua Thien – Hue increased by 19.6%; Binh Dinh increased by 14.4%; Ho Chi Minh City increased by 10.8%; Quang Binh increased by 9.7%; Binh Duong increased by 8.6%; Can Tho increased by 8.0%; Hanoi increased by 5.8%.