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Domestic trade expected to make up over 15% GDP by 2030

VGP – The Government sets goal to raise the GDP share of domestic trade to at least 15 percent over the next decade.

07/15/2021 08:25

This is part of the Government’s strategy for domestic trade development through 2030, vision to 2045.

The total retail sales of consumer goods and services is expected to increase by 13-13.5 percent annually while e-commerce revenue would account for around 10.5-11 percent of the total retail sales of consumer goods and services.

The number of small- and medium-sized enterprises (SMEs) operating in trade is projected to account for 40-45 percent of the total SMEs.

Viet Nam’s e-commerce revenue reached US$11.8 billion in 2020, up 18 per cent against last year and accounting for 5.5 per cent of total retail sales, making Viet Nam the only country in Southeast Asia to achieve double-digit growth rate in e-commerce.

COVID-19 pandemic is a major boost to e-commerce, prompting many companies to do businesses online, as well as attracting first-time online shoppers./.

By Thuy Dung