Sales service revenue

Q1 retail revenue reaches US$50 billion By Thanh Thom A customer inspects farm produce at a local supermarket. Vietnam’s total retail revenue from goods and services in the first quarter of 2019 rose 12% over the same period last year – PHOTO: VNA HCMC – Vietnam’s total retail revenue from goods and services in the first quarter of this year was estimated at VND1.185 quadrillion, equivalent to US$51 billion and up 12% from a year earlier, the General Statistics Office noted in its latest socioeconomic performance report. The office’s data shows that the total sales of goods and services in March, the month after the Lunar New Year (Tet holiday), rose by 0.9% over the previous month to VND392.2 trillion, a year-on-year rise of 12.1%. Last month saw sales of goods increase at a faster month-on-month rate of 0.8%. At the same time, sales continued to grow for accommodation and food, tourism and other services by between 0.6% and 1.5%. Between January and March, … [Read more...] about Q1 retail revenue reaches US$50 billion

Jan-May retail sales leap to US$85 billion The Saigon Times Daily Many Vietnamese consumers shop at South Korean retailer E-Mart Vietnam in Go Vap District. The local retail sector maintained robust growth in the first five months of 2019 – PHOTO: NHU PHU HCMC – The local retail sector maintained robust growth in the first five months of 2019, with total goods and service revenue amounting to an estimated VND1.98 quadrillion, or US$85 billion, up 11.6% year-on-year, according to the General Statistics Office. Data from the office indicates that the fifth month of 2019 saw a year-on-year rise of 11.4% in goods sales and service revenue, reaching an estimated VND403.8 trillion, contributing to strong retail growth in the five-month period. Of the total, goods sales amounted to VND306.9 trillion in May, up 1.7% against last month. Accommodation and food revenue grew by 9.6% year-on-year to VND48.7 trillion, while sales of tourism and other services continued to … [Read more...] about Jan-May retail sales leap to US$85 billion

2019 retail revenues soar by 11.5% from Jan to Aug The Saigon Times Daily Consumers select grapefruit at a Co.opmart supermarket. Vietnam’s retail revenues soared by 11.5% year-on-year between January and August. – PHOTO: HUNG LE HCMC - Retail revenues in Vietnam rose by 11.5% from January to August, compared with the same period in 2018. Retail revenues, which include the sale of goods and services, reached VND3.2 quadrillion (US$137.8 billion) during the eight-month period, according to the General Statistics Office. Officials noted, however, that while the growth rate was lower than in the same period in 2018, it was also higher than the annual growth rate from 2015 to 2017. During the 2019 eight-month period, sales of cultural and educational goods, food and foodstuffs, garments, vehicles, home appliances and transport increased by 8.5%-13.6% against the year-ago period. The cities that registered strong retail sales growth included Quang Ninh (19.5%), … [Read more...] about 2019 retail revenues soar by 11.5% from Jan to Aug

Toyota Vietnam hits new record high for auto sales, parts exports By Hung Le Workers check a car at a Toyota Vietnam service facility in HCMC. Toyota Vietnam established a new record for automobile sales and automobile parts exports in 2018 – PHOTO: HUNG LE HCMC – Toyota Vietnam announced that it had set a new record in revenue for auto parts exports and auto sales last year. The company sold 65,856 cars in the local market and posted US$71 million in export revenue for automobile accessories, both rising 11% year-on-year. Its automobile sales, excluding Lexus units, were remarkable, though the local automobile sector underwent a hardship in 2018, raising its total accumulative sales to over 510,000 cars. Of this, its locally assembled vehicles exceeded 52,000 units, up 27% versus that of 2017. Toyota Vietnam mainly exports automobile parts, such as antennas, exhaust gas recycle valves and acceleration pedals, to 13 countries and territories, including India, … [Read more...] about Toyota Vietnam hits new record high for auto sales, parts exports

Zero-dong tour operators pay minimal tax despite high sales The Saigon Times Daily Tourists enter Vietnam through Mong Cai international border gate in Quang Ninh Province in this file photo. Some 400,000 tourists taking zero-dong tours visit the country through the border gate every year, according to Quang Ninh’s Department of Tourism – PHOTO: VGP HCMC – The Taxation Department in the northern province of Quang Ninh found that 32 retail shops belonging to zero-dong tours paid a mere VND1.5 billion in taxes in 2017, a modest tax contribution compared to their high volume of sales, Nguoi Lao Dong Online reported. Data from the provincial Department of Tourism showed that around 400,000 tourists opting for zero-dong tours enter Mong Cai international border gate in the province every year. As such, the tour operators have earned more than VND1.2 trillion in total, with each tourist spending at least VND3 million for a three-night-four-day tour. As of 2018, taxes … [Read more...] about Zero-dong tour operators pay minimal tax despite high sales

Total retail sales ease to VND1.9 quadrillion in five months: GSO The Saigon Times Consumers shop at a local supermarket. The total retail sales of goods and services in the first five months of this year fell 3.9% year-on-year to VND1.9 quadrillion - PHOTO: VNA HCMC – The total retail sales of goods and services in the first five months of this year fell 3.9% year-on-year to VND1.9 quadrillion, according to the General Statistics Office. Excluding inflation, the decline was 8.9% from January to May, compared with a growth of 8.5% during the same period last year. May saw some recovery, with the figure rising 26.9% against the previous month to VND384.8 trillion, suggesting that citizens have returned to a semblance of normality after several months of social distancing to curb the spread of the coronavirus infection. During the first five months of this year, the retail sales of goods accounted for 80.6% of the total to reach VND1.54 quadrillion, 1.2% higher … [Read more...] about Total retail sales ease to VND1.9 quadrillion in five months: GSO

Lê Thanh Liêm, vice chairman of the city’s People’s Committee, speaks at a forum held yesterday in the city. VNS Photo Bồ Xuân Hiệp Viet Nam News HCM CITY — Developing special tourism activities and improving the skills of tourism staff are among the measures needed for HCM City’s tourism sector, speakers said at a forum on regional tourism held on Wednesday in the city. Lê Thanh Liêm, vice chairman of the city’s People’s Committee, said the city aimed to be one of the top tourist hotspots in Southeast Asia, with tourism becoming a spearhead sector. More international tourism events and a better diversity of tourism products would help attract more visitors, according to Liêm. Cultural and MICE (Meetings, Incentives, Conventions and Exhibitions) tourism could produce more revenue for the industry, he said, adding that new marketing strategies and promotions abroad are needed to attract foreign tourists. Though the city has advantages in tourism, a number of issues … [Read more...] about HCM City tourism industry seeks to improve staff, services

Revenue from the customs sector in HCM City fell in the first five months of the year due to a decline in import tax rates agreed to under several trade agreements that took effect earlier this year, according to the city’s Customs Department.  — VNA/VNS Photo HCM CITY — Revenue from the customs sector in HCM City fell in the first five months of the year due to a decline in import tax rates agreed to under several trade agreements that took effect earlier this year, according to the city’s Customs Department. The information was released at a meeting held on May 30 to review the city’s socio-economic development in the first five months of the year. Customs revenue reached VNĐ39.500 trillion (US$1.72 billion) in the first five months, accounting for nearly 37 per cent of the plan, a drop of more than 6 per cent over the same period last year. The Customs Department was asked to target VNĐ108 trillion in collections for the city’s budget this year, VNĐ1 trillion lower … [Read more...] about HCM City customs revenues drop in first half

World’s leading air conditioner manufacturer Gree and impressive numbers By Minh Tuan Xie Dongbo (R), assistant president of Gree Electric Appliances, introduces an air conditioner at a Gree brand shop in Guangzhou - PHOTO: MINH TUAN (ZHUHAI) - In mid-April I had a chance to visit one of the 14 production bases of the world’s largest air conditioner manufacturer Gree Electric Appliances in Zhuhai, Guangdong, China, and was really impressed by its scale as well as great achievements that the company has gained. Gree Electric Appliances was founded in 1991 and was listed on the Shenzhen Stock Exchange in 1996. At the beginning, Gree was only a company that assembled residential air conditioners. Now it has grown into a diversified industrial group that has expanded its business scope to include air conditioners, high-end equipment, home appliances and communication equipment. Gree products are sold widely to more than 160 countries and territories around the world. … [Read more...] about World’s leading air conditioner manufacturer Gree and impressive numbers

AppleInsider breaks down every record Apple smashed in its gargantuan fiscal quarter ending in December 2020. Apple's first fiscal quarter was one to remember, breaking records left and right on its way to a staggering $111.4 billion in total revenue. While that number was the biggest takeaway, it was far from the only record the company shattered. Total revenue Apple brought in a staggering $111.4B in Q1 2021 During the 1Q 2021 financial quarter, Apple raked in $111.4 billion in total revenue. This is the first time the company has passed $100 billion for a quarter, breaking its previous record of $91.8 billion in the prior year's December-ending quarter. It's all the more surprising that Apple did this during a global pandemic, as many working families cut down on luxury purchases. Impressive iPad and Mac sales boosts may have partially reflected the greater need for work-from-home and Zoom-friendly computing devices. However, the iPhone continued … [Read more...] about Ten records Apple broke in its historic holiday 2020 quarter