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Ho Chi Minh City sees high revenue thanks to crude oil, real estate

12:47 | 04/06/2022

VCN - Total state budget revenue in Ho Chi Minh City in the first five months of 2022 increased by 19.5% year-on-year, of which revenues related to real estate and crude oil rose 2.1 time and 82.5% respectively.

Ho Chi Minh City Customs processed over 1.2 million declarations Ho Chi Minh City Customs processed over 1.2 million declarations
Ho Chi Minh City Customs records over US$53 billion in trade turnover Ho Chi Minh City Customs records over US$53 billion in trade turnover
Exports fire on all cylinders, creating a boon for Ho Chi Minh City's economy Exports fire on all cylinders, creating a boon for Ho Chi Minh City's economy
Imports through Ho Chi Minh City's port recorded good growth, pushing the revenue up nearly 12% year-on-year. Photo: T.H
Imports through Ho Chi Minh City's port recorded good growth, pushing the revenue up nearly 12% year-on-year. Photo: T.H

According to the People's Committee of Ho Chi Minh City, city’s state revenue in the first five months of 2022 is estimated at VND209.824 billion or 54.3% of the annual estimate, up 19.5% over the same period last year.

Specifically, domestic revenue is estimated to have risen by 19.8% year-on-year to VND141,919 billion or 54.7% of the estimate, accounting for 67.6% of the city’s total revenue.

Of this, revenue from state-owned enterprises rose 28.6% year-on-year to VND13,176 billion or 50.2% of the estimate, accounting for 6.3% of the city’s total revenue; revenue from the non-state sector rose by 10% to VND40,469 billion or 60.1% of the estimate, accounting for 19.3% of total revenue; revenue from the foreign-invested sector rose by 7.9% to VND 33,034 billion or 60.1% of the estimate, accounting for 15.7% of the city’s total revenue.

In particular, budget revenue from crude oil exceeded the whole year estimate to VND 10,695 billion, up 82.5%.

Besides, the economy had positive signals when tax revenue from real estate doubled; tax revenue from products grew by 11.7% year-on-year. Meanwhile, state budget expenditure (except for advances) decreased by 11.9% year-on-year.

Budget revenue from import-export activities in the first five months increased by 11.7% to VND57,200 billion or 49.1% of the estimate.

From the beginning of 2022 to May 15, Ho Chi Minh City Customs Department carried out customs clearance procedures for import-export goods with a turnover of over US$53 billion USD, up 11.2% year-on-year.

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In which, both export and import turnover recorded positive growth. The total value of exports grew 8.76% year-on-year to US$ 23.925 billion the total imports grew 13.25% year-on-year to US$29.536 billion.

By Le Thu/ Huyen Trang