According to the latest report from the National Statistics Office, trade and service activities in May continued to record positive growth signals.

Total retail sales of goods and consumer service revenue at current prices in the month reached an estimated VND647.1 trillion ($24.56 billion), representing a 0.5% increase over the previous month and a robust 11.8% surge compared to the same period last year.

For the first five months of 2026, total retail sales and consumer service revenue totaled an estimated VND3,185 trillion ($121 million), up 11.2% year-on-year. When adjusted for price factors (inflation-adjusted), the total retail and service revenue increased by 6.1%, which is lower than the 7.2% growth recorded in the same period in 2025.

In terms of sectors, retail sales of goods during the first five months maintained the largest share at 75.9% of the total and rising 11.1% year-on-year. Within this segment, petroleum saw the highest growth at 12.7%; apparel increased by 10.2%; food and foodstuffs grew by 9.6%; household appliances up 7.5%; cultural and educational products rose by 5.6%; and other commodity groups jumped by 17.6%.

The accommodation and catering service sector generated an estimated VND400.4 trillion ($15 billion), accounting for 12.6% of the total and growing by 13.3% year-on-year. Notably, despite a modest share of 1.3%, the travel and tourism industry reached an estimated VND40.6 trillion ($1.54 billion), posting a strong growth rate of 12.2%.

These results are attributed to the effective combination of optimized visa policies, aggressive tourism promotion and stimulus campaigns, and improved service quality, which have collectively attracted a large number of domestic and international tourists.

Finally, revenue from other services in the first five months accounted for 10.2% of the total and increasing by 9.1% compared to the same period in 2025.

In terms of retail sales of goods, Quang Ninh province led the country with a 12.9% year-on-year increase. It was followed by Da Nang, Dong Nai, Can Tho, Hanoi, and Ho Chi Minh City.

For accommodation and catering services, An Giang province recorded the most spectacular breakthrough, with revenue soaring by 24.4%. Many other key tourism hubs also posted significant growth rates, including Ninh Binh, Da Nang, Hue, Quang Ninh, Hai Phong, Can Tho, HCM City, and Hanoi.

In the travel and tourism sector, Khanh Hoa province solidified its leading position with revenue skyrocketing by 33.8% compared to the same period last year. Other top-performing localities included Quang Ninh, Quang Ngai, Hue, Hai Phong, Hanoi, and HCM City.