Customs revenue in the first ten months of the year falls 17%

Revenue from post-clearance audit increases by 136%

Officers of HCM City Customs Department conduct physical inspections. Photo: T.H

According to the General Department of Vietnam Customs (GDVC), after maintaining growth momentum for four consecutive months, exports showed signs of decreasing but the exports regained growth momentum in October.

The imports in October increased by 2.9% or US$ 823 million to US$ 29.31 billion month-on-month.

The total import and export in October is estimated to go up 4.1% or US$ 2.45 billion to US$ 61.61 billion compared to the previous month. In the month, the trade surplus is estimated at US$ 3 billion.

The total average import-export turnover in the first ten months of the year declined 9.6% or US$59.49 billion to US$557.95 billion compared to the same period in 2022. Of which, exports in the first 10 months of the year dropped 7.1% or US$ 22.22 billion to US$ 291.28 billion compared to the same period in 2022. The imports plunged 12.3% or US$ 37.27 billion year-on-year.

Import-export activities regained growth, however, the revenue from imports and exports in the first 10 months of the year fell 17% year-on-year to VND302,394 billion, meeting 71.2% of the estimate.

In the two remaining months of the year, the Customs sector will focus on resources on debt collection, trade facilitation, and anti-revenue loss to achieve the revenue target in 2023.