Total retail goods sales and consumer service revenue in the first four months of 2026 are estimated at VND 2,546.6 trillion, with strong growth in overall retail revenue, up 11.1% compared to the same period last year. This marks a positive signal reflecting a sustained recovery in domestic purchasing power, with broad-based growth recorded across most major goods and service sectors.

1. Domestic Consumption Accelerates Beyond Last Year’s Growth Rate

Looking at the data series from 2022 to the present, total retail goods sales and consumer service revenue in Vietnam have followed a consistently upward trajectory. In 2022, the figure reached VND 1,675.2 trillion with a 43% year-on-year increase, driven in large part by a strong post-pandemic rebound effect.
In 2023, the total climbed to VND 1,924.4 trillion, representing a growth of 14.9%. The year 2024 recorded an 8.8% increase with total value reaching VND 2,094.5 trillion, while 2025 continued the trend with a 9.4% rise to VND 2,292.4 trillion.

In the first four months of 2026, the 11.1% growth rate not only surpasses that of the same period last year but also demonstrates that upward momentum is being sustained and strengthened. This reflects a clear improvement in consumer confidence against a backdrop of continued macroeconomic stability.

2. Retail Goods Remain the Backbone as Hospitality and Tourism Break Out

Within the revenue structure for the first four months of 2026, retail goods continued to serve as the dominant driver, reaching VND 1,938.8 trillion and accounting for the largest share of total output with an 11.1% year-on-year increase. As the foundational segment, this figure reflects the essential consumption needs of the population, remaining robust and continuing to expand.

More notably, accommodation and food services emerged as the fastest-growing sector, reaching VND 317.4 trillion and recording the highest growth rate among all tracked segments at 13.4% year on year. This indicates that out-of-home spending, experiential services, and short-stay tourism are recovering strongly.

The travel and tourism segment, though smaller in scale at VND 31.9 trillion, posted an impressive 12.1% growth rate compared to the same period. This aligns with the strong recovery seen in both domestic and international tourism in the early months of the year, as consumers prioritize travel experiences following a period of tightened spending.

Other service sectors reached VND 258.5 trillion, up 8.5% year on year, continuing to contribute steadily to the overall picture of domestic consumer activity.

3. Positive Outlook for the Domestic Market in the Second Half of 2026

The results from the first four months of 2026 indicate that Vietnam’s consumer economy is performing positively across multiple sectors. Domestic purchasing power is not only recovering but expanding at an accelerating pace compared to previous periods.

The particularly strong growth in service-oriented segments such as accommodation, food and beverage, and travel and tourism points to a gradual shift among consumers toward higher-value forms of spending.

With domestic demand stimulation policies continuing to take effect and consumer sentiment steadily improving, Vietnam’s retail and service market is expected to sustain its growth momentum throughout the remainder of 2026.

Source: baoquandoinhandan

9/5/2026