The value of retail sales and services in Vietnam enjoyed a year-on-year increase of 24.2 percent to VND2,004 trillion (USD95.5 billion) in 2011, announced the General Statistics Office.

However, if price increases were included in the figure, the growth was only 4.7 percent compared with 2010, representing the lowest growth rate in the past four years, the office said.

In recent years, the total retail sales value surged by 6 percent in 2007 and 2008, 11 percent in 2009 and 14 percent in 2010.