Post by : Shakul

Vietnam’s import and export sector recorded strong growth during the first four months of 2026, helping government revenue from customs activities increase by 16.5 percent despite continued uncertainty in the global economy. According to the Customs Department, the country’s total import and export turnover reached 345.68 billion US dollars between January and April this year.

The figures showed a major increase of 24.7 percent compared to the same period in 2025. Export turnover reached 169.02 billion US dollars, while imports stood at 176.66 billion US dollars. Taxable import and export turnover also rose strongly to 61 billion US dollars, creating a positive impact on state budget revenue collection.

By the end of April 2026, Vietnam’s customs sector collected more than 166.3 trillion Vietnamese dong in government revenue. This amount achieved nearly 37 percent of the annual target and reflected a year-on-year increase of 16.5 percent. Officials said the growth was supported by increased imports linked to production activities and public investment projects across the country.

According to the Customs and Tax Operations Department, the structure of imports has shifted significantly toward more sustainable economic sectors. Imports of machinery, equipment, electronic components, chemicals, plastics, steel, and production materials reached approximately 30.8 billion US dollars, accounting for more than half of the country’s taxable import turnover.

Vietnam also saw strong growth in completely built automobile imports. More than 72,600 vehicles worth around 1.8 billion US dollars entered the country during the first four months of the year. While the number of imported vehicles increased moderately, the value of imports rose sharply, contributing additional revenue to the state budget.

Officials said the government’s accelerated disbursement of public investment funds helped create strong demand for imported machinery and industrial materials for infrastructure projects. At the same time, imports of gemstones, precious metals, and petroleum products recorded major increases, adding further support to customs revenue collection.

Despite the positive results, authorities warned that several risks could affect revenue collection in the coming months. Falling crude oil imports and tax reductions on gasoline and aviation fuel are expected to reduce customs revenue significantly during the remainder of 2026. Officials estimate that reduced fuel taxes alone could lower revenue by up to 11 trillion Vietnamese dong.

Trade protection measures in global markets are also creating challenges for Vietnam’s import and export sector. New tariffs on hot-rolled steel imports from China and retaliatory trade measures from the United States could affect both import demand and export performance in key industries.

To maintain revenue targets, Vietnam’s customs authorities are increasing the use of artificial intelligence and digital technologies to improve tax monitoring and prevent fraud. Customs agencies are also expanding electronic clearance systems and strengthening cooperation with banks to improve processing efficiency and revenue management.

Authorities said the customs sector will continue focusing on debt recovery, tax supervision, and forecasting of global market risks to ensure stable budget revenue collection during a period of economic and geopolitical uncertainty.

#Asia News #Economy #Vietnam #Business