Retail sales of goods, services up 20% in January

The office explained that the hike was attributed to the growing consumption demand as Tet (Lunar New Year), the biggest and longest festival in the Southeast Asian nation, fell in the month.

Of the total, the retail sales of goods were VND435.4 trillion, a year-on-year rise of 18.1%, with the biggest increase seen in garments (27%).

The revenue from lodging and catering services reached VND56 trillion, representing a year-on-year rise 37.3%.

Notably, tourism raked in VND2.2 trillion, a surge of up to 113.4% from the corresponding time last year, with the highest increases recorded in such localities as Hai Phong (541.5%), Da Nang (387.1%), Tien Giang (380.2%), Lao Cai (196.3%), Hanoi (113.8%) and Ho Chi Minh City (98.7%).

The revenue from other services was valued at VND51.2 trillion, up 16.8% year-on-year.

The GSO said the purchasing power during the holiday rose about 8-10% against other months and was equivalent to the same period last year, with the strongest growth seen in food, foodstuff and essential goods.

Hoang Anh Duong, Deputy General Director of the Market Surveillance Agency under the Ministry of Industry and Trade, said market management forces have intensified inspections and supervisions, especially on e-commerce platforms and social networks, while coordinating with other competent agencies in controlling the quality of oil and gas products.