Vietnam’s retail sales and services revenues are estimated to have risen 18.7 percent from a year earlier to VND1,327.5 trillion ($63.65 billion) in the first seven months of this year, the government’s general Statistical Office said.
Excluding inflationary factors, the revenues have grown 6.7 percent on year, the government-run office said in a monthly report released Monday.
The trade sector generated VND1,027 trillion revenue, up 18.2 percent on-year and accounted for 77.4 percent of the country’s sum.
Hotel and restaurant sector reported an on-year revenue rise of 19.3 percent to VND155.31 trillion while tour- ism and service sectors saw an increase of 26.6 percent and 21.7 percent to VND13.7 trillion and VND131.4 trillion, respectively.
In July, the Southeast Asian nation’s total retail sales and service revenues are likely to rise 0.1 percent from June and 14.1 percent from the same month of last year to VND189,187 trillion.
Vietnam’s total retail revenue reached nearly VND2 trillion in 2011, up 29.3 percent on-year and contributed between 15 percent and 16 percent to the country’s Gross Domestic Product (GDP), the Ministry of Industry and Trade said.
The ministry earlier forecast the country’s total retail sales and service revenues will rise between 22 percent and 23 percent on-year to VND2,445 trillion in 2012.