In the first 8 months of 2024, state budget revenue from import-export activities reached VND 274,035 billion, equal to 73.1% of the assigned estimate, up 13.1% over the same period last year.
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| Total import-export turnover in the first 8 months of 2024 reached 511 billion USD, import-export budget revenue reached 73% of the estimate. |
According to the latest information from the General Department of Customs, the state budget revenue from import-export activities in August 2024 reached 34,379 billion VND, down 9% compared to the previous month. In the first 8 months, the state budget revenue from import-export activities reached 274,035 billion VND, equal to 73.1% of the assigned estimate, up 13.1% over the same period last year.
The reason for the decrease in budget revenue in August compared to the previous month is that the total taxable import-export turnover decreased by 1.9% compared to the previous month. Of which, taxable import turnover decreased by 1.5%.
Some imported goods with large value and high tax rates decreased, such as: Coal of all kinds decreased by 45% in volume and 19.7% in value, reducing revenue by 430 billion VND; Crude oil decreased by 11.8% in volume and 12.9% in value, reducing revenue by 275 billion VND; Gasoline of all kinds decreased by 25.6% in volume and 20.1% in value, reducing revenue by 571 billion VND; Phones and components decreased by 21.2% in value, reducing revenue by 210 billion VND; Complete automobiles of all kinds decreased by 12.3% in volume and 11.8% in value, reducing revenue by 597 billion VND compared to the previous month.
In contrast, revenue for the first 8 months increased year-on-year thanks to total taxable import-export turnover increasing by 17% year-on-year.
Specifically, taxable export turnover increased by 7.5% and taxable import turnover increased by 17.6%. Some groups of goods with increased turnover include: Imported raw materials, machinery, equipment, and spare parts for production increased by 20.8% over the same period, increasing budget revenue by about 23,000 billion VND; Imported coal of all kinds increased by 29.6% in volume and 16.5% in value, increasing revenue by about 3,300 billion VND; Imported crude oil increased by 23.3% in volume and 26.7% in value, increasing revenue by about 3,600 billion VND.
The recovery of import and export is significantly boosting budget revenue. The total value of import and export of goods in August 2024 reached 70.65 billion USD, up 0.8% (equivalent to an increase of 533 million USD) compared to the previous month. Of which, exports reached 37.59 billion USD, up 3.7% (equivalent to an increase of 1.35 billion USD) and import value reached 33.06 billion USD, down 2.4% (equivalent to a decrease of 821 million USD).
Vietnam's trade balance of goods in August 2024 had a surplus of 4.53 billion USD.
The total import-export value of goods in the first 8 months of 2024 reached 511.11 billion USD, an increase of 16.7% (equivalent to an increase of 73.07 billion USD) over the same period last year.
Export value reached 265.09 billion USD, up 15.8% (equivalent to an increase of 36.13 billion USD), import value reached 246.02 billion USD, up 17.7% (equivalent to an increase of 36.95 billion USD).
Vietnam's trade balance of goods in the first 8 months of 2024 had a surplus of 19.08 billion USD, 4.1% lower than the surplus of 19.9 billion USD in the same period last year.
In order to facilitate people and businesses in the process of customs procedures in particular and import and export activities in general, up to now, 100% of basic customs procedures have been automated, 100% of Customs Departments and Customs Sub-Departments carry out electronic customs procedures with 99.65% of businesses participating.
The implementation of electronic customs procedures has created a breakthrough reform, comprehensively changing the method of declaring and submitting customs documents from manual to electronic, the handling of feedback from customs authorities to businesses is also done through the electronic system, creating great convenience for import and export activities, minimizing documents and papers and simplifying customs documents in all stages...
Source: https://baodautu.vn/thu-ngan-sach-tu-xuat-nhap-khau-cai-thien-dat-73-du-toan-d224509.html
![[Infographic] January trade surplus over 3.12 billion USD](https://vstatic.vietnam.vn/vietnam/resource/IMAGE/2025/2/7/4ba8330058ce4aeb8723c9611ade9900)
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