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State budget revenue from import-export activities drops in January

HCMC – State budget revenue from imports and exports totaled over VND24.8 trillion in January 2023, down 42.3% year-on-year, showed data of the General Department of Vietnam Customs.

The fall in January’s State budget revenue is attributed to the week-long Lunar New Year holiday that fell in January, instead of February as more often seen in previous years.

The National Assembly assigned the General Department of Vietnam Customs to collect budget revenue of VND425 trillion from imports and exports in 2023, based on a growth rate of 6-6.5% in GDP, as well as increases of 8-9% in export turnover and 7-8% in import turnover.

A report from the General Department of Vietnam Customs showed that Vietnam’s total export-import value in January was estimated at US$46.56 billion, down 17.3% month-on-month, and 25% year-on-year.

Of this, the export value amounted to US$25.08 billion, down 13.6%, while the import value stood at US$21.48 billion, dropping 21.3%. As a result, the country had a trade surplus of US$3.6 billion in the first month of 2023.

Vietnam’s total import-export value set a record of over US$730 billion in 2022, up 9.2%, equivalent to US$61 billion, compared to the figure in 2021.

The export value reached US$371.3 billion last year, up 10.5% (or US$35.14 billion), while the import value reached US$358.9 billion, up 7.9% (or US$26.14 billion).

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