July retail sales drop 20% year-on-year due to COVID-19 pandemic

Total retail sales of goods and services shrank 8.3 per cent month-on-month in July to VNĐ339.4 trillion (US$14.84 billion) as a result of restrictions induced to stem the ongoing COVID-19 outbreak, according to the General Statistics Office (GSO).

The figure was 19.8 per cent lower than a year earlier as the fourth coronavirus wave, which forced many southern cities and provinces to impose social distancing, is taking heavy toll on trade, transport and tourism, the GSO said on July 29.

This month, the transport sector carried an estimated 146.3 million passengers and 111.5 million tonnes of cargo, down 50.4 per cent and 24.3 per cent, respectively, from the same month of last year.

Total retail sales of goods and services in the first seven months of this year exceeded VNĐ2.79 quadrillion, up 0.7 per cent year on year. Close to 1.92 billion passengers were transported during the period, down 9.6 per cent, while cargo transport reached 987.4 million tonnes, up 3.1 per cent.

The Ministry of Industry and Trade is formulating specific plans to stimulate consumption and sustainably develop the domestic market.