HCM City Customs: Import-export increases sharply, revenue collection reaches over VND100,000 billion

Customs officers of Saigon port area 1 check imported goods. Photo: T.H

In the first nine months of 2022, the total import-export turnover is estimated at US$111.13 billion, an increase of 15.88% compared to the same period in 2021 (equivalent to an absolute increase of US$15.23 billion).

Accordingly, import turnover reached about US$62.43 billion, increasing by 16.1% over the same period in 2021 (equivalent to US$6.03 billion); export turnover reached US$48.7 billion, rising by 12.3% over the same period in 2021 (an increase of US$5.5 billion, respectively).

Furthermore, in the past nine months, HCM City Customs Department collected VND104,620.7 billion from the state budget, reaching 89.8% of the assigned ordinance estimate (VND116,500 billion) and reaching 87.55% of the striving target (VND119,500 billion), an increase of 19.6% over the same period in 2021, equivalent to an increase of VND17,164.7 billion.

Revenue collection in the first 9 months of 2022 increased compared to the same period in 2021 mainly due to the rapid growth in the turnover of 2022.

Specifically, the turnover of nine months in 2022 is estimated at US$111.13 billion, an increase of 15.88% over the same period in 2021 (equivalent to an absolute increase of US$15.23 billion), and the tax amount increased by VND17,164.7 billion.

According to the analysis of HCM City Customs Department, from the beginning of the year until now, many import-export goods have increased in turnover compared to the same period, thus making the main contribution to rising revenue for the state budget.

Many imported products have high turnover. For example, petroleum of all kinds, accumulated until September 30, 2022, had an estimated import turnover of US$3.68 billion, increasing by 139% over the same period last year (equivalent to an increase of more than US$2 billion), the amount of tax collection and payment to the state budget was over VND14,397 billion, rising by 176.7% over the same period last year (equivalent to VND9,193 billion).

Iron and steel products of all kinds had an estimated import turnover of US$2.21 billion, growing by 6.9% over the same period last year, contributing to the state budget at VND4,401 billion, rising by 32.17% over the same period last year (equivalent to an absolute increase of VND1,071 billion); chemical products' turnover is estimated at US$1.86 billion, increasing by 15.4%, contributing to the budget of VND4,080 billion, an increase of VND477 billion.

Phones of all kinds and components have an estimated import turnover of US$1.256 billion, growing by 26.7%; tax payable to the state budget is VND2,885 billion, an increase of VND611 billion over the same period.

Besides the group of increased imports mentioned above, according to HCM City Customs Department, many export items also witnessed a high turnover, contributing to a revenue of nearly VND400 billion.

For example, the turnover of fertilizers of all kinds trebled to an estimated US$0.32 billion, contributing to the state budget of over VND211 billion, accounting for 45.3% of the total tax revenue from exports; seafood export turnover was estimated at US$3.88 billion, increasing by 76% over the same period last year (equivalent to an absolute increase of US$1.68 billion); exported rice was estimated at US$2.214 billion, rising by 5.8% over the same period last year.

Particularly for computers, electronic products and components, exports were estimated at US$12.84 billion, dropping by 7% (nearly US$1 billion) over the same period last year.

According to the leader of HCM City Customs Department, facing the situation of import-export goods decreasing, in order to fulfill the state budget target, the unit continues to synchronously implement solutions to facilitate, combat smuggling and trade fraud to accomplish the task and exceed assigned targets.