Tax revenue from foreign trade falls 18.6%

HCMC — Weak demand has led to an 18.6% year-on-year drop in tax revenue from import-export activities for the period from January to September.

The General Department of Vietnam Customs on October 4 reported that tax collections from import-export activities in the first nine months of the year totaled VND268.9 trillion.

The total value of Vietnam’s imports and exports for January-September was estimated at US$497.7 billion, decreasing 11% versus the same period last year. Exports were estimated at US$259.7 billion, down 8.2%, while imports stood at US$237.99 billion, a 13.8% decline.

This year, the National Assembly has set a state budget revenue target of VND425 trillion for the General Department of Vietnam Customs.