Retail in Asia

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Vietnam’s retail sales jump 9.5pc this year

Vietnam’s retail sales of goods and services rose 9.5 percent this year, the largest increase since 2011, as low inflation and strong economic growth bolstered consumer confidence, data from the General Statistics Office (GSO) revealed.

Sales were estimated at VND3,242 trillion (USD148 billion), GSO said. Vu Manh Ha, domestic trade economist of the GSO, attributed the significant rise in 2015 to the country’s 0.63-per cent CPI year-on-year rise, the lowest increase in the past 14 years.

Ha said the low CPI increase meant stable prices for several essential products, adding that manufacturers and suppliers could sell their products without raising prices, which encouraged consumption.

(Source: Viet Nam News)