Retail of goods, service revenues enjoy positive growth

Retail of goods has seen positive growth in the first ten months of this year, reported the Ministry of Industry and Trade (MoIT)’s Department of Domestic Markets.

As many provinces and cities across the country have entered a new normal, a number of wet markets have resumed operations. Travelling and circulation of goods have become easier.

Apart from winter apparel, the demand for household appliances and stationery have also increased following a social distancing period, pushing up the October retail of goods and service revenues by 18.5% month-on-month.

In the structure of retail of goods and service revenues, retail accounted for the largest share with 82.8%; lodging and dining services, 8.3%; tourism 0.1% and other services, 8.8%.

Between now and the year-end, the MoIT will step up the distribution of goods, especially necessities to meet public demand, launch domestic consumption stimulation programmes like nationwide discount month, mobile selling points and market stabilisation.

It will also continue with supply-demand connectivity and trade promotion activities at home, make full use of e-commerce and launch the domestic market development strategy and project till 2030 with a vision to 2045.

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