FX.co ★ Vietnam Retail Sales Growth Slows in May

In May 2025, Vietnam experienced a 10.2% increase in retail sales compared to the same period the previous year. This growth marked a slight deceleration from the nearly two-year peak of an 11.1% rise observed in April. The reduction in growth was primarily attributed to decreased sales in the tourism sector (35% compared to 46.1% in April), services (14.3% down from 17%), and goods (8% from 8.8%). Conversely, the trade sectors related to accommodation and food services continued to exhibit positive momentum, registering growth of 19.1% up from 18.8%. On a month-to-month basis, retail trade declined by 0.1% in May, a downturn from the 0.2% increase recorded in the previous period. Over the first five months of the year, overall retail activity showed a growth rate of 9.7%.