Commerce and services in Q1 2026 show broad-based growth led by record international arrivals and domestic demand

International arrivals to Vietnam reached a record high, fueling a strong first quarter for the commerce and services sector. A quarterly report on the economy and social situation for Q1 2026 by the General Statistics Office (Ministry of Finance) shows bright signals for the retail and consumer services markets. Specifically, total retail sales of goods and consumer services revenue at current prices in the first three months of 2026 were about 1,902.8 trillion dong, up 10.9% year on year (7.0% excluding price effects). In March 2026 alone, total retail sales of goods and consumer services reached about 638.6 trillion dong, up 12.1% year on year. In terms of sectoral composition, the consumer spending picture accelerated evenly. Retail sales of goods were about 1,452.4 trillion dong, accounting for the largest share at 76.3% of the total and rising 10.9% from a year earlier. The clothing category led the gains at 9.9%; followed by food and beverage at 9.8%; and household equipment and furnishings at 8.2%. Provinces with notable retail growth included Quang Ninh (12.8%) and Bac Ninh (11.4%). Revenue from accommodation and food services reached 234.7 trillion dong, up 13.3% and representing 12.4% of the total. Da Nang and Can Tho were the most dynamic localities in this segment with increases of 18.1% and 15.1%, respectively. Other services rose 8.0% to 192.8 trillion dong. The travel and tour sector continued to be a flagship, generating revenue of about 22.9 trillion dong in Q1 2026, up 12.5% year on year. The main drivers of this surge were surging domestic and international tourism during the New Year holidays. Notably, Vietnam welcomed 6.76 million international visitors in Q1 2026, up 12.4% year on year, the highest quarterly figure on record. By contrast, the number of Vietnamese travelers abroad declined sharply by 55.0%, to about 1.2 million departures. Localities with standout tourism revenue growth included Khanh Hoa (up 30.7%), An Giang (25.8%), and Quang Ninh (24.2%). Alongside the momentum in commerce and tourism, the transport and telecommunications sectors also posted positive results. Specifically, in Q1 2026 compared with the same period a year earlier, passenger transport reached about 1,649.8 million trips, up 18.3%; freight transport reached 810.9 million tons, up 14.5%; and telecommunications revenue at current prices was about 102.8 trillion dong, up 6.3%. Analysts say the data from the first quarter of 2026 point to a bright economic outlook, laying a solid foundation for the coming quarters.