Customs' revenue reaches 233,100 billion VND in 8 months

	State revenue targets among Customs Departments are always adjusted
	Customs collects over VND 254 trillion, up 6.82%
	The operation of Nghi Son oil refinery does not affect loss of Customs revenues

Customs supervision activities at Cai Lan Port Customs, Quang Ninh Customs Department. Photo: T. Trang.

In August the state budget revenue reached 26,500 billion VND, but specific analysis of some key commodities showed that there were declines in the turnover of goods, especially imported petroleum products and cars, which bring in large income.

In particular, reviewing the main export products in August showed that most of the key export goods are increasing.

Crude oil exports in August were estimated at 330,000 tons, up 3.6% over the previous month and worth 163 million USD, down 7.0%. The volume of crude oil exports in 8 months of 2019 was estimated at 2,688,000 tons, worth 1.401 billion USD, up 0.9% in volume and down 6.5% in value compared to the same period last year.

Textile export turnover of Viet Nam was estimated at 3.3 billion USD, up 0.1% over the previous month and raising the export value of textiles in the first 8 months of 2019 to 21.7 billion USD, up 9.8% compared to the same period last year.

Estimated exports of computers, electronic products and components in August 2019 were valued at 3.3 billion USD, up 8.6% over the previous month. Thereby, the total export value of this commodity group in 8 months of 2019 reached nearly 21.8 billion USD, up 14.3% over the same period last year.

Estimated exports of phones and accessoriesin August 2019 were valued at 5.5 billion USD, up 37.8% over the previous month. It is estimated that by the end of August 2019, the country's exports of phones and accessories reached 32.9 billion USD, up 4.3% over the same period last year.

In addition, some export commodity groups tended to decrease, such aswood and wood products, with the export value estimated at 850 million USD, down 1.6% over the previous month. Total export turnover in the first 8 months of 2019 is estimated at 6.5 billion USD, up 15.4% over the same period last year.

Export value of footwear of all kinds in August was estimated at 1.6 billion USD, down 1.5% from the previous month. Total export turnover in the first 8 months of 2019 is estimated at 11.9 billion USD, up 13.1% over the same period last year.

Machinery, equipment, tools and other spare parts for export in August 2019 were estimated at 1.5 billion USD, down 2.2% over the previous month. Total export turnover in the first 8 months of 2019 is estimated at 11.27 billion USD, up 5.8% over the same period in 2018.

Similarly, Customs also estimated that many key import commodity groups decreased in August, of which the two items that brought the largest revenue were cars and gasoline.

Specifically, estimated imports of cars in July 2019 reached 9,000 units, worth 174 million USD, down 22.5% in volume and 32.7% in value compared to the previous month. It is estimated that by the end of August 2019, imports of complete units of cars reached 96,000 units, worth 2.1 billion USD, up 229% in volume and up 205.6% in value over the same period last year.

Imported gasoline in August was estimated at 850,000 tons, down 19.4% over the previous month and worth 500 million USD, down 21%. Thus, the volume of imported gasoline in 8 months of 2019 was estimated at 6.29 million tons, with an estimated value of 3.85 billion USD, down 27.2% in volume and down 33.3% in value over the same period last year.

Imported chemical products in August were estimated at 460 million USD, down 5.6% over the previous month. It is estimated that by the end of August 2019, the import of this commodity will reach 3.47 billion USD, up 5.9% over the same period last year.

For plastic materials, estimated imports in August were 580,000tons, valued at 793 million USD, down 3.8%. It is estimated that by the end of August 2019, the imports of Viet Nam would be 4.14 million tons, worth 6.0 billion USD, increasing by 15.4% in volume and 2% in value over the same period last year.

Estimated imports of fabrics in August 2019 were worth 1.1 billion USD, down 5% from the previous month. It is estimated that by the end of August 2019, fabric imports will reach 8.8 billion USD, up 4.8% compared to 8 months of 2018.

Commodity groups with an increase in turnover such as: Machinery, equipment, tools & spare parts, estimated imports of this group in March were 3.2 billion USD, up 0.5% over the previous month. It is estimated that by the end of August 2019, Vietnam's import of machinery, equipment, tools and spare parts was 24.02 billion USD, up 12.9% over the same period in 2018.

For computers, electronic products and components, imports of this commodity group in August 2019 were estimated at 5 billion USD, up 6.1% over the previous month. It is estimated that by the end of August 2019, imports of this commodity reached 33.6 billion USD, up 21% compared to the first 8 months of 2018.

For mobile phones and components, estimated import turnover of this commodity group in August was 1.5 billion USD, up 4.8% over the previous month. It is estimated that by the end of August 2019, the import of phones and components of Vietnam reached US$ 8.7 billion, down 5.9% compared to the same period last year.

With the above situation, in August 2019, Vietnam's total import and export value of goods was estimated at 47.3 billion USD, up 3% over the previous month, of which the total export value was estimated at 24.5 billion USD, increasing by 6.6% and total import value was estimated at 22.8 billion USD, down slightly by 0.6%.

With the estimated results, in the first 8 months from the beginning of 2019, Vietnam's total import and export value of goods is expected to reach 336.56 billion USD, up 7.9% over the same period in 2018, of which the total the export value is estimated at 169.98 billion USD, up 7.3% and the total import value is estimated at 166.58 billion USD, up 8.5%.

Vietnam's trade balance of goods in August was estimated to have a surplus of 1.7 billion USD, thus, in the first 8 months of 2019, the country had a trade surplus of more than 3.4 billion USD, down 29, 9% compared to 8 months ago.