Trade and services continued to grow.

According to the Provincial Statistics Department, in November 2023, production, trade, and services in the province continued to grow, thanks to the abundant, diverse, and varied supply of goods in the market, meeting the needs and tastes of the people. Total retail sales of goods and consumer service revenue in November reached VND 3,251.4 billion, an increase of 2.2% compared to the previous month and an increase of 14.3% compared to the same period last year.

According to Mr. Nguyen Van Huong, Director of the Provincial Statistics Department: Total retail sales of goods and consumer service revenue in November reached VND 3,251.4 billion, an increase of 2.2% compared to the previous month and a 14.3% increase compared to the same period last year. Specifically, within the overall increase (14.3% compared to the same period), retail sales of goods reached VND 2,420.6 billion, thanks to the promotional sales organized by businesses in trade and services during the November 20th holiday and the end of the year, which boosted purchasing power. In addition, stable prices of some consumer goods contributed to increased demand for clothing and household goods, leading to increased revenue in some sectors compared to the same period last year, such as: goods, culture, and education, which increased by 22.15%. Household goods sales increased by 37.61%... Regarding revenue from accommodation and food services, in November it reached VND 547 billion, thanks to the increase in international tourists and the growing demand for food among the population, contributing to a 20.66% increase in restaurant revenue; travel and tourism revenue reached VND 1.3 billion, an increase of 1.2% compared to the previous month and a 12.2% increase compared to the same period last year. Revenue from other services reached VND 282.5 billion, due to increased educational and medical services, and increased demand for entertainment, contributing to an 18.77% increase in administrative and support services; an 18.69% increase in medical and social assistance services; a 6.52% increase in educational services; and a 13.77% increase in other services.

Consumers select products at Co.opMart Thanh Ha Supermarket.

The above results contributed to the total retail sales of goods and consumer service revenue in the first 11 months of 2023 reaching VND 34,712.1 billion, an increase of 16.4% compared to the same period last year (compared to a 36.6% increase in the same period of 2022). By sector, in the first 11 months of this year, retail sales of goods reached VND 26,369.1 billion, accounting for 76.0% of the total and increasing by 13.6% compared to the same period last year. Specifically, household goods, tools, and equipment increased by 28.4%; cultural and educational items increased by 26%; clothing increased by 21.5%; food and beverages increased by 8.9%; and transportation increased by 6.7%. Revenue from accommodation and food services reached VND 5,412.7 billion, accounting for 15.6% of the total and increasing by 30.2% compared to the same period last year. Revenue from travel and tourism services reached VND 14 billion, accounting for 0.04% and increasing by 114.3%. Revenue from other services reached VND 2,916.3 billion, accounting for 8.4% and increasing by 19.6%.

Regarding the Consumer Price Index (CPI), in November, prices of many food items increased, especially rice prices which rose sharply due to increased export prices; prices of household goods, housing rent, and gas also increased, contributing to a 0.64% increase in the CPI compared to the previous month and a 4.20% increase compared to the same period last year. According to the Provincial Statistics Department's analysis, in the 0.64% increase in the November CPI compared to the previous month, 6 out of 11 main consumer goods and services groups saw an increase in CPI. The food and beverage group saw the highest increase at 1.86%, due to a sharp 7.68% increase in food prices and a 1.69% increase in food prices. Next, the clothing, hats, and footwear group increased by 0.57% due to the changing seasons and increased demand for warm items such as sweaters and windbreakers. The beverages and tobacco group increased by 0.09%. The group of household equipment and appliances increased by 0.07%; the group of other goods and services increased by 0.05%; and the group of culture, entertainment, and tourism increased by 0.02%.

Besides factors contributing to the increase in the CPI, the General Statistics Office also pointed out factors that caused two groups of goods and services to decrease in the CPI in November 2023: The transportation group decreased by 1.09%, mainly due to the impact of domestic fuel price adjustments, resulting in a 3.47% decrease in gasoline prices and a sharp 7.10% decrease in diesel prices. Additionally, a 1.23% decrease in train ticket prices contributed to the decrease in this group's price index compared to the previous month. The housing and construction materials group decreased by 0.60% due to: a 2.64% decrease in household electricity prices due to the current mild weather, reducing the demand for air conditioners; a 0.5% decrease in household water prices due to heavy rainfall during the month, reducing the demand for water for household use and watering plants; a 5.55% decrease in kerosene prices compared to the previous month due to the impact of fuel price adjustments; and a 1.83% decrease in the price of housing maintenance materials. For the remaining three groups, including: the pharmaceuticals and medical services group; the postal and telecommunications group; and the education group, the CPI remained stable. Overall, for the first 11 months, the average CPI increased by 4.58% compared to the same period last year.

Regarding import and export activities, the estimated total turnover in 2023 reached US$210 million, an increase of 1.7% compared to the same period, but only 84% of the plan. Although cashew kernels showed a clearer recovery in 2023, estimated at US$30 million, an increase of 43.5% compared to the same period. In addition, three new export products emerged during the year: stuffed toys, construction stone, and processed frozen mackerel, however, the export value was not high. Therefore, the total export turnover for the year is estimated at only US$130 million, a slight increase of 0.5% compared to the same period, reaching 87% of the plan. The main export items in 2023 included: Seafood, estimated at $67 million, a decrease of 15.4% compared to the same period in 2022, due to key seafood export markets such as the US, Germany, and Japan having economies heavily affected by armed conflicts, high inflation, and people tightening their spending, leading to a sharp decrease in purchasing power; other items, estimated at $33 million, an increase of 12.8% compared to the same period in 2022.

Linh Giang

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