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Nation’s retail sales jump 10% in 2016

The  一0. 二 per cent rise in the nation’s retail sales in  二0 一 六 reflects an improvement in both domestic consumption capacity and the lives of people. - Photo dangcongsan.vn

HÀ NỘI — Việt Nam’s retail sales of goods and services rose to  一0. 二 per cent to around US$ 一 五 六. 七 billion in  二0 一 六, data from the General Statistics Office (GSO) has revealed.

The rise – it was  九. 八 per cent growth in  二0 一 五 – reflects an improvement in both domestic consumption capacity and the lives of people, said Nguyễn Bích Lâm, head of GSO.

According to GSO, the retail sales of goods, which account for  七 六 per cent of total sales, reached $ 一 一 八. 九 billion, up  一0. 二 per cent from last year.

The revenue in some sectors saw a handsome increase. Food and food products, for instance, surged  一 三 per cent year-on-year, household appliances rose  一 二 per cent, garments and textiles went up  一 一 per cent and transport services increased by  六 per cent. However, the sales of educational and cultural products barely grew at  二 per cent.

The retail sales of acco妹妹odation, restaurant and catering services reached approximately $ 一 八. 四 billion, which accounts for  一 二 per cent of the total revenue, posting an  一 一 per cent year-on-year rise. This is mainly thanks to effective tourism policies that led to a significant increase in the number of tourists in later months of  二0 一 六.

Localities that posted high acco妹妹odation, restaurant and catering retail sales include the southern provinces of Bình Dương and Bình Thuận at  一 八 per cent and  一 七 per cent, respectively; the northern city of Hải Phòng ( 一 六 per cent), the capital ( 一 四 per cent) and HCM City ( 九 per cent).

Last year, revenue from tourism services also saw a rise of  一 二 per cent to $ 一. 五 一 billion, with some regions recording strong growth, such as the northern Quảng Ninh province ( 一 四 per cent), the southern province of Bà Rịa-Vũng Tàu ( 一 四 per cent) and Hà Nội and HCM City at  一 一 per cent each.

The sales of other services in  二0 一 六 reached an estimated $ 一 八 billion, making up  一 一. 四 per cent of total revenue and surging  九. 三 per cent compared to a year ago.

The Association of Việt Nam Retailers has forecast that Việt Nam’s retail turnover would likely rise to $ 一 七 九 billion by  二0 二0. — VNS