Retail sales in Vietnam increased by 12.4 percent year-on-year in July 2019, the most since December, following a 11.5 percent growth in the previous month, as sales rose faster for both goods (13.4 percent vs 12.4 percent in June) and other services (8.4 percent vs 5.5 percent). Meantime, sales advanced at a softer rate for both accommodation & food (11 percent vs 12.3 percent) and tourism (7.8 percent vs 13 percent). Considering January to July, retail sales advanced 11.6 percent compared to the corresponding period the prior year. Retail Sales Yoy in Vietnam averaged 19.26 percent from 2002 until 2019, reaching an all time high of 76.75 percent in November of 2011 and a record low of -20.73 percent in November of 2012.
Retail Sales Yoy in Vietnam is expected to be 11.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Retail Sales Yoy in Vietnam to stand at 10.00 in 12 months time. In the long-term, the Vietnam Retail Sales YoY is projected to trend around 10.60 percent in 2020, according to our econometric models.