State budget revenue from exports, imports down 4.2% in Q1


State budget revenue from exports and imports in the first quarter of this year reached VND88.35 trillion ($3.53 billion), down 4.2% year-on-year, the General Department of Vietnam Customs reported Wednesday.

Three-month exports fetched $93.06 billion, a rise of 17% compared to the same period last year, and imports, $84.98 billion, up 13.9 %, resulting in a trade surplus of about $8.08 billion.

The agency was assigned by the National Assembly to collect VND375 trillion for the State coffer this year, with VND204 trillion expected to come from exports and imports.

The agency said it will continue with the reform of customs policies and procedures, ensure state management and prevent trade fraud, while creating a full legal foundation for the building and implementation of a digital and smart customs model, thus facilitating trade and contributing to meeting growth targets.

Smuggling, trade fraud, and drug trafficking took place complicatedly in the quarter, it said, noting that customs forces detected and handled 3,483 cases with a total value of about VND5.81 trillion.

Source: VnExpress