RETAIL REVENUES FROM GOODS AND SERVICES GROW 9.3% IN JANUARY

Shoppers are seen at a supermarket in HCMC - PHOTO: ARCHIVES

HCMC – Vietnam’s total retail revenues from goods and consumer services rose 9.3% year-on-year in January 2026, signaling a positive start for the trade and services sector this year, according to the National Statistics Office (NSO) under the Ministry of Finance.

Total retail sales of goods and consumer services at current prices were estimated at VND632.4 trillion in January. The figure increased 2.6% from the previous month and matched the year-on-year growth rate recorded in January 2025.

Adjusted for price changes, real growth stood at 6.3%. The NSO noted that the result was notable as January 2026 did not coincide with the Lunar New Year holiday, while January last year marked the peak Tet consumption period.

Retail sales of goods accounted for the largest share, reaching an estimated VND487.4 trillion, up 9.3% from a year earlier. Growth was driven by household appliances and equipment, which rose 9.4% on strong early-year demand and promotional campaigns. Sales of non-automotive transport equipment increased 9.3%. Food and foodstuffs rose 7.7%, garments 7.6%, and cultural and educational products 5.5%.

Several localities posted double-digit retail growth, including Can Tho and Quang Ninh at 10.7%, Haiphong at 10.5%, and Hue at 10.1%.

The services sector also recorded solid performance, supported by rising international arrivals and stable domestic tourism demand. Revenue from accommodation and food services was estimated at VND75.4 trillion, up 9.4%. Lam Dong led the country with a 21.3% increase, followed by Quang Ninh at 19.8% and Thanh Hoa at 19.6%.

Travel services saw the fastest growth, with revenue reaching VND7.5 trillion, up 14% year-on-year. Quang Ninh reported a 25.2% increase, while Danang and HCMC posted respective growth of 18.3% and 17.9%.

Other services generated an estimated VND62.1 trillion in revenue, up 8.9%. HCMC recorded an 11.4% increase in this category.

The NSO attributed the positive results to strong government coordination and efforts by the tourism sector to restructure visitor markets, diversify tourism products, enhance promotion activities, and implement more open visa policy.

Looking ahead, Nguyen Thu Oanh, head of the NSO’s Service and Price Statistics Department, said consumer demand is expected to remain resilient in 2026, provided macroeconomic stability is maintained, production recovery continues, and employment and incomes are supported. She added that domestic consumption would remain a key growth driver if Vietnam further develops the domestic market, improves goods and service quality, and leverages tourism, e-commerce, and the digital economy.

Source: The Saigon Times