Vietnam is focusing on boosting domestic consumption and diversifying export markets to ensure sustainable growth in response to risks of high tariffs in major markets such as the US and Europe.

Total retail sales of goods and consumer service revenue in the first quarter of 2025 were estimated at VND1.7 quadrillion (US$65.5 billion), up 9.9% year-on-year, according to the National Statistics Office (NSO).

Vietnam’s retail sector is on track for strong growth, presenting compelling investment opportunities as domestic consumption continues to rise.

Vietnam’s gross domestic product (GDP) in the first quarter of 2025 is projected to grow by nearly 8%, setting the stage for sustained economic development throughout the year.

The total retail sales of goods and consumer service revenue in Hanoi reached VND150.1 trillion (approximately US$5.87 billion) in the first two months of 2025, marking an 11.8% increase compared to the same period last year, according to the Hanoi Statistics Office.

High consumption demand during the Lunar New Year holiday and the strong tourism recovery fuelled retail sales of consumer goods and services in January.

The top five localities with the largest gross regional domestic product (GRDP) in Vietnam for 2024 are Ho Chi Minh City, Hanoi, Binh Duong, Dong Nai and Hai Phong.

Vietnam remained among the top ten countries with the fastest e-commerce growth rate in the world in 2024, with the market valued at US$25 billion, an increase of 20% over 2023, according to Vietnam E-commerce and Digital Economy Agency.

Vietnam's total retail sales of consumer goods and services reached VND6.39 quadrillion (US$251.87 billion) in 2024, marking a year-on-year increase of 9%, according to the General Statistics Office (GSO).

Retail sales in Ho Chi Minh City rang in at over VND567.98 billion (US$22.36 million) in 2024, a year-on-year rise of 11%, the municipal Department of Industry and Trade has reported.