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Home » Vietnam’s Budget Revenues From Export-Import Down 18% in Jan-May 2023

Vietnam’s Budget Revenues From Export-Import Down 18% in Jan-May 2023

by Chhem Kravann
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Vietnam’s budget revenues from export-import were over 152.94 trillion VND ($6.5 billion) in the first five months this year, making up 36 per cent of the estimate in the budget and down by 18 per cent year on year (YoY), according to the general department of Vietnam customs (GDVC).

The country’s total export-import value during the period was estimated at $262.54 billion, down by 14.7 per cent YoY. Out of that, export turnover was worth $136.17 billion, while imports were worth $126.37 billion—down by 11.6 per cent and 17.9 per cent respectively.

In May, the customs department collected more than 30 trillion VND, marking a month-on-month decrease of 6.23 per cent.

The fall was attributed to the drop in the taxable import value of certain items, such as completely built-up automobile, iron and steel, mobile phones and components.

The country witnessed a higher number of temporary and permanent business withdrawals from the market than the number of enterprises joining or re-entering the market for the first time, a news agency reported.

Source : Fibre2Fashion

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