Ho Chi Minh City: Many imported products tend to increase

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Cars imported through Ho Chi Minh City port increased nearly 50%. Photo: T.H

Imported cars increased nearly 50%

According to Ho Chi Minh City Customs Department, after many months of decline and stagnation, in October 2023, some imported goods through Ho Chi Minh City port increased. Statistics from the Ho Chi Minh City Customs Department show that the total value of import-export turnover in October 2023 reached US $10.43 billion, an increase of 0.69% compared to the same period in September 2023 (an increase of US $ 0.07 billion respectively).

Of which, export turnover reached US $ 4.98 billion, up 5.12% over the same period last month (an increase of US $240 million respectively); Import turnover reached US $ 5.45 billion, down 3.05% over the same period last month (corresponding decrease of US $ 0.17 billion).

It is notable that import-export turnover with tax in October 2023 reached US $ 3.27 billion, an increase of 5.22% compared to the previous month (an increase of US $160 million). Of which, export turnover with tax reached US $ 16.66 million, an increase of 13.26% compared to the previous month (an increase of US $ 1.95 million respectively); Import turnover with tax reached US $ 3.25 billion, up 5.3% over the previous month (an increase of US $160 million).

Among the growing imported products, complete automobiles of all types recorded the best increase, with a quantity of 4,659 units, a turnover with tax of US $113 million, an increase of 49.7% in volume, an increase of US $ 68,6% in value; The amount of tax receivable from the state budget is VND 1,976.5 billion, an increase of 71.27% (absolute increase of VND 822.5 billion) compared to the previous month.

In addition to automobiles, imported petroleum of all kinds also increased slightly, reaching 319,776.8 tons, turnover with tax reached US $ 287.8 million, up 1.3% in volume, down 3.8% in value; The amount of tax receivable to the state budget reached VND 1,306.2 billion, an increase of 9.39% (absolute increase of VND 112.1 billion) compared to the previous month...

According to the assessment of Ho Chi Minh City Customs Department, the world economy in the first ten months of 2023 faces many difficulties and challenges...; Domestic purchasing power is recovering slowly, production continues to face difficulties due to a shortage of orders, reduced world demand directly affects many manufacturing industries... leading to taxable import-export turnover in the first ten months of 2023 being canceled. Customs clearance through Ho Chi Minh City Customs decreased by 15.59% compared to the same period in 2022.

​Looking forward to the last months of the year

According to Ho Chi Minh City Customs Department, some imported goods through Ho Chi Minh City port in October increased compared to the previous month. It is expected that in the last months of the year, the volume of import and export goods will continue to grow.

However, in general since the beginning of the year, the import-export turnover of taxable goods has decreased. In particular, taxable export turnover decreased by 18.4% and taxable import turnover decreased by 15.3%, compared to the same period in 2022. Therefore, the state budget revenue situation in eleven months of 2023 faces many difficulties.

Accumulated state budget revenue from January 1, 2023 to November 13, 2023 reached VND 105,649.2 billion, reaching 72.46% of the Ordinance target (VND 145,800 billion); down 12.94% over the same period in 2022, equivalent to an absolute decrease of VND 15,703.7 billion; 12/12 branches have state budget revenue lower than 90% of the assigned estimate; 10/12 departments have lower state budget revenues compared to the same period in 2022, only 2/12 departments have higher state budget revenues compared to the same period in 2022.

According to Ho Chi Minh City Customs Department, implementing the direction of the General Department of Customs on state budget collection in 2023 in official dispatch No. 5739/TCHQ-TXNK dated November 7, 2203, the Department's leaders requested the heads of applications to belonging to and affiliated with the research organization, thoroughly grasp each organization's effective implementation of assigned tasks, focusing on a number of work groups, such as:

Promoting reform of administrative procedures, creating favorable conditions for businesses to develop stably; Evaluating the state budget revenue situation, striving for the best in implementing the 2023 state budget revenue estimate, ensuring correct, complete and timely collection;

Implementing measures to prevent loss of state budget revenue, strengthening post-customs clearance inspections, specialized inspections, combat smuggling and trade fraud, focusing on inspection of quantity, value, code, origin...;

Organizing the collection and handling of tax debt to ensure assigned debt collection targets; Strengthening inspection, reviewing, and proper handling of tax-exempt and non-taxable subjects; Strictly controlling tax refunds, handling overpaid taxes, and implementing anti-fraud solutions in tax refunds.

At the same time, leaders of Ho Chi Minh City Customs Department directed units to implement Official Dispatch 2930/HQTPHCM-TXNK dated October 16, 2023 on strengthening collection management, urging collection, striving to complete the highest target of State budget revenue in 2023.

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