In Markets

Vietnam’s Jan retail sales surge 11pc, biggest increase in five years

The domestic market of Vietnam would continue to thrive in 2016, said Director of the Ministry of Industry and Trade’s Domestic Market Department, Vo Van Quyen. This prediction has been confirmed by the initial positive retail sales at the beginning of this year.

Quyen told the online meeting held in Hanoi on Monday that the purchasing power in January, prior to the Tet (Lunar New Year) holiday which falls on February 8, increased 3.5 percent from the previous month and posted an 11 percent year-on-year rise.

The purchasing power in the year-end month saw a record high as compared to the past five years while the consumer price index stayed flat compared in December, helping stabilise the domestic market.

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