Vietnam's custom revenue reaches US$ 5.3 million within 5 months

	Vietnam companies achieved lower earnings in April
	State budget revenue reaches over VND427 trillion (US$18.17 billion) in Q1 2020
	Oil price fall impact on Vietnam budget revenue is not too great

In the first five months, the total revenue collection of the whole customs sector is VND 123,484 billion (US$5.3 million) (Photo: VNS)

According to Custom News, in the first five months, the total revenue collection of the whole customs sector is VND 123,484 billion (US$5.3 million), 36.5% of current appropriation, 34.8% of the striving target, down by 17.18% over the same period in 2019.

Data released by the General Department of Customs on June 6 showed tariff revenues in May stood at VND21.257 trillion (US$916.5 million).

Regarding export turnover, in May, the total export value of Vietnam is estimated to reach $37.9 billion, up by 5% compared to the last month.

In particular, total export value is estimated at $18.5 billion, up 5.2% and total import value is estimated at $19.4 billion, up 4.7%. Compared to the same period in 2019, Vietnam’s export value decreased by 15.5% and import value decreased by 15.9%.

With the above developments, Vietnam's trade balance in May is estimated to suffer a trade deficit of $900 million.

Vietnam’s total export and import turnover in the first five months of 2020 fell 2.8% (Photo: Custom News)

Last month, Vietnam imported US$19.4 billion worth of goods while exporting US$18.5 billion.

However, total exports in the January-May period outstripped imports during the same time by US$1.88 billion, according to official data.

Due to the coronavirus pandemic, Vietnam’s total export and import turnover in the first five months of 2020 fell 2.8% from last year’s figure to an estimated US$196.8 billion, Nhan Dan reported.

Some export commodity groups are estimated to grow well in the month such as:

Crude oil is estimated at 486 thousand tonnes, up 4.1% and valued at $110 million, up 103.2% compared to April 2020.

Ores of all kinds are estimated at 250 thousand tonnes, up 13.6% and worth $16 million, up 34.1% over the previous month.

The key imported goods have had noticeable increases such as:

Petrol and oil of all kinds are estimated at 650 thousand tonnes, up 20.7% from the previous month and worth $152 million, up 7.7%.

Computers, electronic products and components are estimated at $4.2 billion, up 9.7% from the previous month.

Machinery, equipment, tools and spare parts are estimated at $3.1 billion, up 4.1% compared to the previous month.

Other noteworthy imported items are completed built unit (CBU) cars with an estimated output of 5,000 units, up 5.7% and worth $ 110 million, down 15.8% from the previous month.

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