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    Vietnam’s retail sales could increase by 3-4% by the end of the year compared to 2020

    According to the Ministry of Industry and Trade (MoIT), total retail sales in Vietnam in 2021 are expected to increase by 3-4% year-on-year, but recently the growth rate is expected to be below the target. 8% in the industry. In the first 10 months of this year, product retail has seen positive growth.

    Trade has resumed, making it easier to move and distribute goods.

    Demand for winter apparel increased after a period of social distance, boosting retail sales of goods and services in October by 18.5% month-on-month.

    According to the Ministry of Industry and Trade (MoIT), total retail sales in Vietnam in 2021 are expected to increase by 3-4% year-on-year, but recently the growth rate is expected to be below the target. 8% in the industry. In the first 10 months of this year, product retail has seen positive growth.

    In the structure of retail revenue for goods and services to date in 2021, retail sales accounted for the largest share at 82.8%, with accommodation and catering services at 8.3%. According to Vietnamese newspaper reports, tourism accounts for only 0.1% and other services account for 8.8%.

    To further boost domestic consumption in the remaining months of this year, MoIT will focus on business and production activities, especially addressing the concerns of large companies in industrial zones and economic zones.

    “The aim is to quickly resume economic activity and maintain the value chain, especially at the end of the year when demand for commodities and products rises,” the ministry said.

    MoIT, on the other hand, carefully monitors the supply-demand balance and market prices of goods as needed, and effectively distributes goods throughout the region, including the center of the pandemic, to ensure smooth movement of goods.

    In line with these efforts, the ministry will oversee the market during the year-end to combat trade fraud activities and ensure a healthy development environment for Vietnamese products.

    The ministry also plans to phase out wholesale markets, supermarkets and convenience stores, subject to compliance with pandemic measures to promote production and consumption. 2022.

    Fiber2Fashion News Desk (DS)

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    Vietnam’s retail sales could increase by 3-4% by the end of the year compared to 2020

    Source link Vietnam’s retail sales could increase by 3-4% by the end of the year compared to 2020

    The post Vietnam’s retail sales could increase by 3-4% by the end of the year compared to 2020 appeared first on Eminetra.

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