Vietnam’s Retail and Consumer Services Grows 11.7% in 2018
Driven by the domestic market’s growing purchasing power, the total revenue generated from retail sales and consumer services in Vietnam in 2018 reached VND 4,396 trillion (US$191 billion), up 11.7 percent compared to 2017. The wholesale and retail sector continues to be a major attractor of foreign direct investment (FDI), with total registered capital in 2018 reaching US$3.37 billion, accounting for 10.3 percent of the total FDI.
Going forward
According to Vietnam’s Ministry of Industry and Trade, total revenue generated from the retail sales of goods and consumer services is estimated to grow at an average of 13 percent from now to 2020 reaching VND 5.8 quadrillion (US$255.5 billion) by 2020.
Between 2021 and 2025, the predicted growth rate is 14 percent with total revenue reaching VND 11 quadrillion (US$484.58 billion) by 2025.
This is an exerpt from an article appearing in Vietnam Briefing, a subsidiary of Dezan Shira & Associates. For the latest economic, regulatory and business news from Vietnam, visit vietnam-briefing.com.