According to statistics from the General Statistics Office (Ministry of Finance), the total retail sales of goods and consumption services in May 2025 are estimated to increase by 10.2% compared to the same period last year.
In the first five months of 2025, the total retail sales of goods and consumption services increased by 9.7% compared to the same period last year. Notably, revenue from accommodation and catering services increased by 15.2%, while tourism travel revenue surged by 24.7%.
Analyzing the reasons for this growth, the Statistics Office attributes it to the increased consumer demand for travel and tourism during holidays, as well as the significant rise in international arrivals to Vietnam, which have positively contributed to the growth of the trade and service sector since the beginning of the year.
Consequently, the total retail sales of goods and consumption services at current prices in May 2025 are estimated at VND 574.9 trillion, up 0.4% from the previous month and 10.2% from the same period last year.
Among the various sectors, the revenue from the sale of food and foodstuffs increased by 11.3% compared to the same period last year, while cultural and educational items rose by 7.9%. Household appliances and equipment, and home furnishings recorded a 7.5% increase, followed by a 3.7% rise in clothing sales. Accommodation and catering services witnessed a significant surge of 19.1%, and tourism travel revenue soared by 35.0% as many localities actively implemented tourism stimulus programs.
In the first five months of 2025, the total retail sales of goods and consumption services at current prices were estimated at VND 2,851.4 trillion, up 9.7% from the same period last year (in the same period of 2024, it increased by 8.8%). Excluding price factors, the increase was 7.4% (in the same period of 2024, it increased by 5.4%).
Retail sales of goods in the first five months of 2025 were estimated at VND 2,182.3 trillion, accounting for 76.5% of the total and representing an increase of 8.2% over the same period last year. Notably, the group of cultural and educational items saw an increase of 11.1%, followed by food and foodstuffs (9.8%), clothing (6.3%), and household appliances and equipment, and home furnishings (5.8%).
Some localities with significant year-on-year increases in retail sales of goods in the first five months of 2025 include Ho Chi Minh City (up 8.6%), Hai Phong (up 8.4%), Can Tho (up 7.7%), Hanoi (up 7.5%), and Da Nang (up 7.4%).
Revenue from accommodation and catering services in the first five months of 2025 was estimated at VND 340.3 trillion, accounting for 11.9% of the total and reflecting a substantial increase of 15.2% compared to the same period last year. Several localities recorded notable year-on-year increases in revenue during this period, including Ho Chi Minh City (up 18.3%), Da Nang (up 18.0%), Quang Ninh (up 16.8%), Hai Phong (up 14.0%), Hanoi (up 12.8%), and Can Tho (up 9.4%).
In May 2025, international arrivals to Vietnam reached 1.53 million, a decrease of 7.6% compared to the previous month but an increase of 10.5% from the same period last year. In the first five months of 2025, Vietnam welcomed 9.2 million international arrivals, representing a significant increase of 21.3% compared to the same period last year.
As a result, tourism travel revenue in the first five months of 2025 was estimated at VND 38.4 trillion, accounting for 1.4% of the total and surging by 24.7% compared to the same period last year. Several localities witnessed remarkable year-on-year increases in tourism travel revenue during this period, including Ho Chi Minh City (up 30.4%), Dong Nai (up 29.1%), Lao Cai (up 24.4%), Hanoi (up 22.0%), and Da Nang (up 19.9%).
Revenue from other services in the first five months of 2025 was estimated at VND 290.4 trillion, accounting for 10.2% of the total and increasing by 12.9% compared to the same period last year. Some localities with significant year-on-year increases in revenue from other services during this period include Can Tho (up 17.6%), Ho Chi Minh City (up 15.1%), Ha Tinh (up 13.3%), Khanh Hoa (up 12.1%), Tay Ninh (up 10.7%), Hanoi (up 9.2%), and Hai Phong (up 7.0%).
The Retail “Bigwigs” Conundrum: MWG, FRT’s Hopeful Foray into Department Stores and Pharma, PNJ Faces Dual Pressures
The spending trend may witness a decline, as per KIS, owing to weakened consumer confidence amidst a future shrouded in uncertainty. This could also lead to a fall in purchasing power as industrial production slows down due to reduced export demand, resulting in decreased consumer income.
The Rise of Vietnam’s Middle Class: Asia’s Fastest-Growing Consumer Market and the Golden Era of a $34 Billion Industry
The thriving middle class, coupled with positive macroeconomic growth indicators, has propelled Vietnam into a golden era for the travel and hospitality industry.
“Retail Stock Valuations at Historic Highs: The Risk of a Sharp Correction Looms as Consumer Demand May Not Evenly Recover.”
The Retail stock group faces the risk of premium valuation compared to the broader market. This exposure could trigger a significant correction if the industry’s outlook is adversely affected, especially with the backdrop of uneven recovery in purchasing power.
“Unveiling Vietnam’s Cultural Heritage: How Sun Mega City Awakens the Sleeping Giant”
Six-time winner of the title “Asia’s Leading Destination” and a five-time recipient of the “World’s Leading Heritage Destination” award, Vietnam’s cultural heritage is a treasure trove of tourism potential. Sun Group envisions a bold new step forward with Sun Mega City, a project that aims to revolutionize the landscape of cultural tourism in the country.
“With a $100 Million Investment and 31 Aircraft, Can Vietnam’s New Airline Take Off and Make Its Mark on the Global Aviation Map?”
In the fourth quarter of 2025, Vietnam’s newest airline is set to take to the skies with its inaugural flights.
