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Home / Economy / Trade - Service
Custom's revenue reaches US$2.9 billion in first quarter
Ngoc Thuy 17:18, 2018/04/02
Vietnam`s import-export duty revenue in the first quarter of 2018 reached VND67.4 trillion (US$2.9 billion), down 3.06% compared to the corresponding period of last year, according to the General Department of Vietnam Customs (GDVC).
The revenue is equal to 23.82% of estimation and 23% of the 2018 target.
 
The revenue is equal to 23.82% of estimation and 23% of the 2018 target.
Illustration photo.
In March, Vietnam's customs revenue is estimated at VND23.5 trillion (US$1.03 billion), significantly higher than in February.

Vietnam's total trade turnover in March reached US$38.8 billion, up 36.8% over February, of which export value reached US$19.8 billion, increasing 38.2% compared to February, while import turnover is reported at US$19 billion, increasing 35.4% over the last month.

Consequently, in the first 3 months of 2018, Vietnam's trade turnover is estimated at US$107.32 billion, increasing 17.7% compared to the same period of last year. Specifically, export turnover accounted for US$54.31 billion, increasing 22% and import turnover of US$53 billion, up 13.6% year on year. 

In 2018, GDVC set revenue target of VND283 trillion (US$12.4 billion), while the Ministry of Finance Dinh Tien Dung expected the actual revenue to be at least 3 - 5% higher. 

Vietnam`s import-export duty revenue in the first 2 months of 2018 is reported at VND42.5 trillion (US$1.8 billion), up 1.6% over the same period of last year, according to GDVC. The revenue was equal to 14.5% of the 2018 target of VND293 trillion (US$12.9 billion). 

In February, Vietnam's customs revenue is estimated at VND18.1 trillion (US$796 million), significantly lower than in January, due to the interference of the Lunar New Year (Tet), stated GDVC.

Vietnam's customs revenue in January was reported at VND23 trillion (US$1.01 billion), up 9.65% over the corresponding period of last year. This is lower than the monthly target of VND24.4 trillion (US$1.07 billion). 

As of March, Woori Bank Vietnam is the latest bank cooperating with GDVC in collecting import-export duty revenue, following GDVC's statement.

Woori Bank is the 6th foreign bank and also the 37th bank that signed with GDVC to collect State revenue.

The move comes in line with GDVC's efforts to  promote revenue collection via commercial banks, especially foreign banks, to provide taxpayers and foreign businesses the most convenient and the fastest tax payment services, as well as to shorten time and further facilitate the trading activities of domestic and foreign businesses, read the statement.
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