Vietnam Retail Sales Grow the Most in 3 Years

Retail sales in Vietnam rose 12.1% year-on-year in March 2026, accelerating from 8.5% in the previous month and marking the fastest growth since March 2023. The solid pickup was broad-based, led by retail goods (12.4% vs 8.8% in February) and accommodation and food services (13.9% vs 9.7%), while tourism-related activities remained strong (11.5%, though easing from 13.8%) and other services also improved (7.6% vs 4.4%). For the first three months of the year, retail trade increased 10.9% compared with the same period in 2025.

Retail sales in Vietnam rose by 8.5% year-on-year in February 2026, easing from a 9.3% increase in the previous month. This marked the softest growth since November 2025, as retail of goods, which accounts for 76.4% of overall retail sales, expanded 8.8%, slowing from 9.3% in January. Additionally, sales growth moderated for travel and tourism (13.8% vs 14%) and other services (4.4% vs 8.9%). On the other hand, activity continued to grow for accommodation and food services, rising 9.7% from 9.4% in the prior month. On a monthly basis, retail activity dropped by 1.5% in February, reversing a 2.6% gain in the preceding period. Considering the first two months of the year, retail sales were 7.9% higher compared to the same period a year ago.

Vietnam’s retail sales increased by 9.3% year-on-year in January 2026, easing from a 9.8% rise in the previous month. Sales growth remained robust across all components but on a slower pace compared to previous month. Retail activity softened mostly for accommodation and food services (9.4% vs 14.2% in December 2025), travel and tourism (14% vs 19.9%), and other services (8.9% vs 12.7%). On the other hand, retail of goods, accounting 77% of overall retail sales, grew by 9.3%, accelerating from an 8.6% rise in the prior period. On a monthly basis, retail trade rose by 2.6% in January, slowing from a 3.9% gain in the preceding month. For the full year 2025, retail sales were up 9.2% compared with 2024.