Domestic market remains stable in May
Updated : Monday, June 11, 2018 4:08 PM (GMT+0700)

Thedomestic market remained stable in May with total revenue from goods retailsales and services exceeding 354 trillion VND (15.6 billion USD), up 1.5percent against the previous month and 10.4 percent year-on-year. 

Illustrative photo - Photo: VNA

The amount lifted the totalrevenue from goods retail sales and services in the first five months of thisyear to nearly 1.75 quadrillion VND (77.2 billion USD), an increase of morethan 10 percent over the corresponding period last year, according to theMinistry of Industry and Trade (MoIT)’s Domestic Market Department.

The value was mainlycontributed by essential goods like food and foodstuff, garments-textiles andhousehold utensils. Of note, revenue from tourism services expanded by 23percent thanks to effects of the beginning of the tourism season and Vietnam’sefforts to develop the tourism sector. 

Despite rosy signs of themarket in the five months, huge inflation pressure is forecast to persist inthe time ahead, mainly due to increasing trends of prices of petroleum andother major materials, plus results of the market price roadmap for severalpublic services like health care and education. 

Besides, the adjustment ofthe basic salary from July 1 is expected to impact on prices of goods anddomestic consumption. 

Given this, the MoIT hasunderlined the need to keep a close watch on the market in the remaining monthsof the year in order to ensure macro-economic stability.


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