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You are here: Home / Vietnam’s customs revenue up 6.82% in Jan – Oct

Vietnam’s customs revenue up 6.82% in Jan – Oct

November 1, 2018 by hanoitimes Leave a Comment

The Hanoitimes – The revenue is equal to 89.8% of the year’s plan and 86.74% of the expectation, local media reported. Vietnam’s import-export duty revenue reached VND254.16 trillion (US$10.89 billion) in the first ten months of 2018, up 6.82% compared to the corresponding period last year, according to the General Department of Vietnam Customs (GDVC).   Illustrative photo. The revenue is equal to 89.8% of the year’s estimate and 86.74% of the expectation.  According to the GDVC, Vietnam’s trade turnover in the January – October period reached US$394.11 billion, up 13% year-on-year. Of the total, exports amounted to US$200.27 billion, up 14.2% year-on-year and imports US$193.84 billion, up 11.8%.  This resulted in a trade surplus of US$6.43 billion during the period.  In October, Vietnam’s trade revenue reached US$41.5 billion, up 2.1% month-on-month, in which exports stood at US$20.8 billion, down 1.5% month-on-month and imports US$20.7 billion, up 6.1%.  During the first ten months of 2018, some Vietnamese export staples witnessed strong growth, including phones and parts with US$40.69 billion, up 10.6% year-on-year; textile & garment US$25.15 billion, up 17.1%; computers, electronic devices and parts US$24.28 billion, up 15.16%.  In a meeting on April 6, Luu Manh Tuong, director of the Import – Export Department, said it would be challenging to achieve the revenue target of VND283 trillion (US$12.5 billion) and the expectation of VND293 trillion (US$12.9 billion) in 2018.  Specifically, forgone revenue from FTAs in 2018 is expected at VND30.1 trillion (US$1.3 billion). Additionally, the import tariffs for auto parts… [Read full story]




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