Vietnam's budget revenue from exports, imports down 4.2% in Q1 2024

07 Apr '24

1 min read

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Vietnam's budget revenue from exports and imports in Q1 2024 reached $3.53 billion, equivalent to 26.3 per cent of the estimate, and down by 4.2 per cent YoY, the customs department said.
Exports fetched $93.06 billion—a rise of 17 per cent YoY, while imports $84.98 billion—an increase of 13.9 per cent YoY, resulting in a trade surplus of about $8.08 billion.

Vietnam’s budget revenue from exports and imports in the first quarter (Q1) this year reached VND 88.35 trillion ($3.53 billion), equivalent to 26.3 per cent of the estimate, and down by 4.2 per cent year on year (YoY), according to the general department of Vietnam customs.

Exports fetched $93.06 billion—a rise of 17 per cent YoY, while imports $84.98 billion—an increase of 13.9 per cent YoY, resulting in a trade surplus of about $8.08 billion.

The department was assigned by the National Assembly to collect 375 trillion VND for the state coffer this year, with 204 trillion VND expected to come from exports and imports.

The department said it will continue to reform customs policies and procedures and create a full legal foundation for the building and implementation of a digital and smart customs model, thus facilitating trade and contributing to meeting growth targets, a domestic news agency reported.

Customs authorities detected and handled 3,483 cases of smuggling, trade fraud and drug trafficking in the quarter with a total value of about 5.81 trillion VND.

Fibre2Fashion News Desk (DS)

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