Budget revenue from import and export activities decreased in the first quarter of 2023

DNHN - According to the General Department of Customs, import and export activities contributed VND 33,476 billion to the state budget in March. In general, it reached VND 91,267 billion in the first quarter of 2023

Specifically, March 2023 budget revenues from import and export activities totaled 33,479 billion Vietnamese Dong. For the entire first quarter, the Customs sector collected VND 91,267 billion, or 21.5% of the forecast, a 17% decrease (equivalent to VND 17,780 billion).

In March, the total value of imports and exports was estimated at 58.49 billion USD, an increase of 18.6% over the previous month (equivalent to 9.19 billion USD). Export is estimated at 29.57 billion USD, an increase of 13.5% (3.52 billion USD), and import is estimated at 28.92 billion USD, an increase of 24.4% (5.67 billion USD respectively).

Vietnam's total import-export turnover for the first three months of the year is estimated to be 154.27 billion US dollars, a 13.3% decline from the previous year's total (equivalent to 23.62 billion USD). Export is estimated at 79.17 billion USD, a decrease of 11.9% (equivalent to USD 10.71 billion), while import is estimated at 75.1 billion USD, a decrease of 14.7% (equivalent to USD 12.91 billion) USD.

In March, it was estimated that Vietnam's merchandise trade balance had a surplus of 645 million USD. In the first three months of 2023, the entire nation is projected to have accumulated a surplus of USD 4.07 billion.

By the end of February 2023, eleven provinces and cities across the nation had export turnovers of at least $1 billion, two fewer than at the same time last year. Long An and Tay Ninh are two locations that are temporarily relinquishing their thrones as exporting leaders in terms of billions of dollars. The export turnover of these two regions reached 923 million USD and nearly 945 million USD, compared to 1.13 billion USD and 1.12 billion USD during the same period last year.

Notably, the majority of important import-export provinces and cities experienced a sharp decline in turnover. Typically, Ho Chi Minh City's GDP was only 5.67 billion USD, 1.63 billion USD less than the same period in 2022. Bac Ninh supplanted Ho Chi Minh City as the leader in exports, with a turnover of USD 6.27 billion, a decrease of more than USD 300 million compared to the same period.

Thai Nguyen is the only location in the top three in terms of export growth, with a total turnover of 4,948 billion dollars, an increase of 11 million dollars over the same period.

Bac Giang, Binh Duong, Dong Nai, Hai Phong, Hanoi, Hai Duong, Phu Tho, and Vinh Phuc are the remaining provinces and cities with export turnover of over $1 billion in the first two months of the year.

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