Domestic consumption continued to grow in five months of this year thanks to abundant supply, said the Ministry of Industry and Trade (MoIT)’s Domestic Market Department.

The total retail of goods and services reached over 403.8 trillion VND (17.5 billion USD) in May, up 1.9 percent month-on-month and 11.4 percent annually. On a five-month calculation, the figure hit more than 1.98 quadrillion VND, up 11.6 percent year-on-year. 

Due to the long April 30 and May 5 holiday, revenue from accommodation and dining services stood at 236 trillion VND, accounting for 11.9 percent of the total and up 9.2 percent from the same period last year. 

Trade experts forecast that political factors and trade tension between major countries will continue affecting key commodity market, apart from fluctuation in petrol prices and slight increase in several farm produce. 

In the near future, the MoIT will step up domestic trade promotion programmes to boost consumption, especially in remote and mountainous areas, and bring goods to rural, border and island areas. 

It will also closely track domestic supply and demand, especially key commodities.