Jan.-Nov. State budget collection from import-export reaches $14 bln, down nearly 17%

Xuan Thinh Thursday | 12/07/2023 11:33

Photo: VNA

State budget collection from import-export activities topped VND335.1 trillion ($13.8 billion) in 11 months, or 78.9% of the estimate, down 16.8%, according to latest report from the General Department of Vietnam Customs.

The department blamed the global economic slump, which has caused most economies in the world to grow more slowly than anticipated, military conflicts, intense power competition, rising geopolitical instability, declining food security, and climate change.

Furthermore, domestic purchasing power was recovering slowly, while manufacturing faced daunting obstacles due to sluggish global demand, it said, adding that import-export revenue fell 8.3% year on year to $619.17 billion in the 11 months.

In order to meet the National Assembly's VND425 trillion state budget collection target for 2023, the department implemented stringent measures to improve trade facilitation, boost state management efficiency, and prevent budget revenue loss.

The statement highlighted the department's commitment to collaborating with ministries and sectors to implement the national and ASEAN one-door mechanisms, facilitate trade within the bloc, and create detailed plans to renovate and modernize the customs sector in the coming year.

The development of an action plan to implement the national one-door mechanism and a project to build an IT system will also receive more attention, along with the promotion of the logistics sector and trade facilitation during the 2022–2026 timeframe.

Source: VGP