Domestic consumer demand continues to be the mainstay of the economy.

In the first 10 months of this year, total retail sales of goods and consumer services revenue reached over VND5.77 trillion, up 9.3% over the same period last year. Trade and service activities continued to grow despite the impact of natural disasters. After a period of many fluctuations, trade and services are making a strong comeback. The Government's stimulus policies continue to show clear effectiveness, thereby contributing to a bright outlook for the economy throughout the year.

Stable macro-economy, controlled inflation with average CPI increasing by only about 3.27%, along with improved income of workers, have strengthened confidence and encouraged people to spend more, from essential goods to services. In addition, programs to stimulate consumption of Vietnamese goods and national-scale fairs and exhibitions have also contributed to arousing the spirit of supporting domestic products. Thanks to this driving force, many businesses recorded a sharp increase in sales in the fourth quarter of this year.

Mr. Nguyen Trong Phi - Chairman of Giovanni Group said: "In the recent Government campaign on Vietnamese goods, we have done a very good job of communicating, arousing patriotism and national spirit so that people can be confident and use Vietnamese goods."

Mr. Bui Nguyen Anh Tuan - Deputy Director of the Department of Domestic Market Management and Development, Ministry of Industry and Trade shared: "The Ministry of Industry and Trade is consulting and proposing to the Government to issue a specialized Resolution on domestic trade development. We will also expand the content of Vietnamese products not only to include goods but also to include cultural and tourism products".

The service sector has particularly recovered spectacularly, with travel and tourism playing the role of the main driving force to stimulate consumption and enliven the market. Accommodation and food services have spread from there, also excelling in many localities; showing that the demand for travel and experiences of people and international tourists has strongly returned. The end of the year is the season of festivals, resorts and tourism, considered the "golden time" for service sectors to continue to break through.

Ms. Nguyen Thu Oanh - Head of the Service and Price Statistics Department, General Statistics Office commented: "In the fourth quarter, the trend of people's consumption of services is increasing more than that of retail goods. Therefore, that is also one of the points we need to focus on. In addition, it also stimulates consumption so that retail goods will be consumed more in the coming time, especially at the end of the year when there are many holidays and Tet".

The success of the first 10 months of the year is the foundation, but the final quarter will be the yardstick to determine whether the domestic market achieves the highest growth rate or not. At this time, the priority of domestic consumption of goods and services by each citizen is the driving force to create internal momentum, helping the economy grow in the context of many fluctuations in the world.

Source: https://vtv.vn/suc-cau-tieu-dung-trong-nuoc-tiep-tuc-la-tru-cot-kinh-te-100251114210322176.htm