HÀ NỘI — Strong consumer demand and a thriving tourism sector helped drive Việt Nam's retail and services market higher in the first five months of 2026, underscoring the growing role of domestic spending in supporting economic growth.

Việt Nam's retail sales and consumer services revenue rose 11.2 per cent in the January-May period, the National Statistics Office under the Ministry of Finance reported on Thursday.

Total retail sales of goods and consumer services revenue reached an estimated VNĐ3,185 trillion (US$121 billion) during the first five months of the year.

Adjusted for inflation, retail sales and services revenue increased 6.1 per cent, compared with growth of 7.2 per cent in the same period last year.

In May alone, total retail sales and consumer services revenue rose 0.5 per cent from April and 11.8 per cent year-on-year to VNĐ647.1 trillion.

Retail sales of goods, which accounted for nearly 76 per cent of the total, climbed 11.1 per cent from a year earlier to VNĐ2,418 trillion.

Fuel sales recorded the strongest growth at 12.7 per cent, followed by garments, food and foodstuffs and household goods.

Revenue from accommodation and food services increased 13.3 per cent to VNĐ400.4 trillion, while travel services revenue rose 12.2 per cent to VNĐ40.6 trillion.

The statistics office attributed the gains to stronger tourism demand, favourable visa policies, promotional campaigns and improved service quality, which helped attract both domestic and international visitors.

Other services generated nearly VNĐ326 trillion in revenue during the period, up 9.1 per cent from a year earlier.

Among localities, Quảng Ninh recorded the strongest retail sales growth at 12.9 per cent, followed by Đà Nẵng at 12.7 per cent.

Hà Nội and HCM City, the country's two largest economic centres, posted increases of 11.1 per cent and 10.9 per cent respectively.

Officials said domestic consumption is expected to remain an important driver of economic growth this year, supported by promotional programmes, measures to boost local production and efforts to maintain stable purchasing power.

Consumer spending on services and tourism is expected to strengthen further during the summer season, providing additional support for economic growth in the coming quarters. — BIZHUB/VNS