Mar. 8 – The General Statistical Office (GSO) announced that total revenues from retail trade and services throughout the first two months of 2013 were estimated at a total of VND422.2 trillion (US$20.59 billion) – 10.9 percent year-on-year gain. In addition, HSBC recently released a report that predicted Vietnam’s GDP to continue to grow in excess of five percent per year, as exports are expected to continue growing at double digit rates over the next two decades.
In the data released by the GSO, trade accounted for the largest increase in revenues as it rose to VND328.2 trillion (US$16 billion) over the last two months – a 10.4 percent year-on-year increase. The clothing and apparel sector had especially strong postings, with exports from the sector increasing 28.4 percent year-on-year in January.
The hotel and restaurant sector posted 13 percent growth as it rose to VND48.8 trillion (US$2.38 billion), and the services sector also grew 14.5 percent year-on-year to VND41.7 trillion (US$2.03 billion).
Furthermore, the total value of retail sales rose by 16 percent over 2012 to VND2,324 trillion ($110.7 billion). Total retail sales rose 3.6 percent year-on-year throughout January and February. This was in despite of the sales of essential goods and construction materials falling significantly compared to the same period last year and despite prices still not yet falling to pre-Tet festival levels.
