Vietnam’s budget revenue from imports and exports drops almost 19% in nine months – Asia News

The General Department of Customs of Vietnam reported on October 4 that state budget collection stood at 268.69 trillion VND (10.99 billion USD) between January and September, a decrease of 18.6% compared to to the same period of the previous year.

The department’s statistics for the period showed that the country’s total trade value was estimated at US$497.66 billion, down 11% from the same period last year. Of this sum, estimated income from exports and imports amounted to USD 259.67 billion and USD 237.99 billion, with annual declines of 8.2% and 13.8%, respectively.

This year, the department’s state budget revenue target allocated by the National Assembly was VND425 trillion.

Vietnamese vegetable and fruit exports to China grow at double-digit pace

Meanwhile, the customs authority noted that smuggling and commercial fraud became more complex in the third quarter. There were incorrect customs declarations, concealment of the origin of goods and smuggling routes, illegal cross-border transport of prohibited items, narcotics, wildlife and currency, and some non-compliant imports.

This year, the department’s state budget revenue target allocated by the National Assembly was VND425 trillion

Several regions experienced a significant number of smuggling cases, including Lao Cai, Quang Ninh, Lang Son, Hai Phong, Ho Chi Minh, Nghe An, Quang Tri, Quang Binh and An Giang.

Article republished from the Vietnamese state media VNA within the framework of an agreement between both parties to share content. Link to the original article:https://en.vietnamplus.vn/state-budget-collection-from-imports-exports-down-nearly-19-in-nine-months/269093.vnp