In February, Vietnam’s sales figures saw a downturn. The General Statistics Office (GSO) reported that the country’s overall retail and service turnover reduced by 1.3% compared to the previous month. This marks the very first sales insinuate 5 months.
The GSO associated the recession mainly to the Lunar New Year vacation, keeping in mind that sales of products and services connected to the celebrations decreased by 27.1% month-on-month. In addition, a 4.2% month-on-month drop in sales of items and services associated with transport and tourist was another primary factor to the reduction.
On the other hand, there were some markets that carried out favorably. Sales of products and services connected to retail, post and telecommunication, and education, to name a few, saw boosts. The greatest increase was seen in the vehicle market, which saw a 32.2% month-on-month boost in sales.
Overall, the GSO’s figures suggest that Vietnam’s sales figures went into reverse in February, following a five-month duration of continual development. This is most likely to be the outcome of the Lunar New Year vacation, which saw a reduction in sales of items and services connected to the celebrations, along with a drop in transport and tourist sales. Specific sectors experienced an uptick in sales, with the vehicle market publishing the biggest gains.
In February, Vietnam’s overall retail and service turnover experienced a decline, according to information from the General Statistics Office (GSO). The 1.3% month-on-month decline marked the very first such downturn in 5 months.
The GSO associated the sales dip mainly to the Lunar New Year vacation, mentioning a 27.1% month-on-month decrease in associated items and services. In addition, a 4.2% month-on-month reduction in sales of products and services connected to transport and tourist likewise added to the total dip.
Conversely, some markets published favorable figures. Retail, post and telecommunication, education, and other sectors saw boosts in sales. The vehicle market took pleasure in the greatest development, with a 32.2% month-on-month increase in sales.
In amount, the GSO’s information exposes that Vietnam’s sales figures reversed in February, following a five-month duration of growth. This is most likely attributable to the Lunar New Year vacation, which saw a decline in sales of products and services connected to the celebrations, in addition to a drop in transport and tourist sales. Specific markets experienced an uptick in sales, with the car market publishing the biggest gains.
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