Vietnamese consumers are spending heavily, with retail and consumer spending increasing by 9.1% in the first 11 months.

According to information released by the General Statistics Office on December 6th, total retail sales of goods and consumer service revenue nationwide in the first 11 months achieved an impressive growth rate of 9.1% compared to the same period last year.

Vietnamese people are spending heavily, with retail and consumer spending growing by 9.1% in the first 11 months. (Source: VNA)

This reflects the clear effectiveness of policies and programs to stimulate consumer demand. It also represents positive growth, surpassing the 8.9% rate of the same period in 2024, thus demonstrating the recovery of the economy .

For the first 11 months of the year, total retail sales of goods and consumer service revenue at current prices are estimated at VND 6,377.7 trillion. Excluding price factors, the actual growth rate reached 6.8%, significantly higher than the 5.8% growth rate of the same period in 2024.

Specifically, the service sectors that provided outstanding growth during this period were tourism and travel revenue, estimated at 85.4 trillion VND, a strong increase of 19.9% ​​compared to the same period last year. This high growth rate stemmed from localities proactively and effectively implementing numerous tourism stimulus programs and diversifying products from the beginning of the year. Leading localities in this growth trend included Hanoi (up 23.4%), Ho Chi Minh City (up 22.3%), and Quang Ninh (up 18.2%).

In addition, revenue from accommodation and food services is estimated at VND 767.8 trillion, an increase of 14.6%, with Ho Chi Minh City leading with a 17.3% increase, followed by Da Nang (15.8%) and Hanoi (13.4%).

In terms of consumption structure, retail sales of goods still accounted for the largest share (76.2% of the total) and reached VND 4,859.0 trillion, an increase of 7.9% compared to the same period last year.

Essential goods groups maintained good growth rates, especially food (up 9.6%), clothing (up 8.5%), and household goods, tools, and equipment (up 7.8%). Several localities recorded high retail sales growth rates, such as An Giang (9.9%), Dong Nai (7.9%), and Ninh Binh (7.7%).

In November alone, total retail sales of goods and consumer service revenue at current prices reached VND 601.2 trillion, stable compared to the previous month and up 7.1% compared to the same period last year. A notable point this month was the significant 13.6% increase in revenue from household goods, tools, and equipment, mainly due to increased demand as the weather changed and people replenished and replaced items after the recent floods.

In addition, revenue from other services also reached VND 665.5 trillion, an increase of 11.2% compared to the same period last year, with Hai Phong and Vinh Long being the two localities with the highest growth rates.

Source: https://baoquocte.vn/nguoi-viet-chi-manh-tay-ban-le-va-tieu-dung-tang-91-trong-11-thang-336811.html