Vietnam increased by 12.4 percent year-on-year in August 2019, the same pace as in the previous month. It remained the largest gain in retail trade since December last year, as sales advanced at a faster pace in tourism (8.7 percent vs 7.8 percent) and other services (9.2 percent vs 8.4 percent). Meanwhile, sales went up less for both goods (13.3 percent vs 13.4 percent in July) and accommodation & food and beverages (9.8 percent vs 11 percent). Considering January to August 2019, retail sales advanced 11.5 percent compared to the corresponding period the prior year. Retail Sales Yoy in Vietnam averaged 19.23 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.