Seven-month retail sales boosted by growing consumption demand

7/31/2018 - 3:15:49 PM

Besides the impressive growth of the index of industrial production, trade and service activities were also bustling in the first seven months of this year due to increasing consumption demand.

The consumption demand mainly focused on essential goods, including food and foodstuffs (illustrative image)

According to the General Statistics Office (GSO), the total retail sale value of goods and services was estimated at VND371.5 trillion (US$15.97 billion) in July, up 1.6% over the previous month and up 13.3% over the same period in 2017.

Thus, the total retail sale value of goods and services in the first seven months of this year climbed to VND2,490 trillion (US$107.07 billion), an increase of 11.1% over the corresponding period last year.

Of which, the retail sale value of goods was reported at VND1,870 trillion (US$80.41 billion), accounting for 75.2% of the total retail sale revenue and up 11.7% compared to the same period in 2017.

The GSO reported that the consumption demand mainly focused on essential goods, including food and foodstuffs, with an annual increase of 12.6%, while apparels saw an annual rise of 12.4%, household equipment with an annual increase of 12.3% and cultural-educational products, up 10.3%.

Several localities posted high retail sale growth of over 12% including Thai Nguyen, Ho Chi Minh City, Thanh Hoa, Lam Dong, Binh Dinh, Bac Giang, Hanoi and Nam Dinh.

Source: NDO

Cao Phong District has been promoting the collective economic development among youth

Recently, the Standing Committee of Cao Phong District’s Youth Communist Union has actively directed the effective implementation of the models of collective economic development among youth, promoting the start-up movement among the youth, and helping each other develop the economy to get rich in their homeland.

Hoa Binh promotes goat farming

Da Bac district leverages its abundant grazing lands and diverse food resources to develop goat farming as a key economic model. This initiative not only enhances incomes but also contributes to poverty alleviation and local socio-economic development.

Hoa Binh leverages “golden time” to boost trade, tourism

The year-end is considered a "golden time" to stimulate trade and tourism. Various activities have been organised to seize positive market signals, enhance product branding, and drive socio-economic growth.

Hoa Binh province has over 870 hectares of tea plantations

Hoa Binh Province currently has over 870 hectares of tea plantations, with six districts having concentrated tea production areas that boast advantages in soil, climate, history, and distinctive tea varieties: Yen Thuy, Lac Thuy, Da Bac, Mai Chau, Tan Lac, and Luong Son.

The average occupancy rate of industrial parks of Hoa Binh province reached 31.25%

Recently, Hoa Binh province has continued to review the planning of industrial parks up to 2030 and implemented procedures to prepare subdivision plans for industrial parks as per regulations.