State budget collection from imports, exports down nearly 19% in nine months
The General Department of Customs on October 4 reported that its state budget collection stood at VND268.69 trillion (US$10.99 billion) between January and September, decreasing by 18.6% compared to the same period last 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% year-on-year. Of the sum, the estimated export and import revenues amounted to US$259.67 billion and US$237.99 billion, annual drops of 8.2% and 13.8%, respectively.
This year, the department’s state budget revenue target allocated by the National Assembly was VND425 trillion.
Meanwhile, the customs authority noticed that smuggling and trade fraud became more complex in the third quarter. There were incorrect customs declarations, the concealing of the goods origin and routes for smuggling, illegal cross-border transport of prohibited items, narcotics, wildlife, and currency, and some imports failing to meet standards.
Various regions experienced a significant number of smuggling cases, including Lao Cai, Quang Ninh, Lang Son, Hai Phong, Ho Chi Minh City, Nghe An, Quang Tri, Quang Binh, and An Giang.
