Customs sector achieves revenue collection of over 141,000 billion VND

Customs officials of Thanh Thuy Customs Branch – Ha Giang Customs Department checked goods. Photo: Thu Trang

This month alone, as of May 26, revenue collection from import-export activities reached 25,778 billion VND thanks to import turnover of key import items increasing compared to the previous year, especially, complete automobiles.

In key export items in May, there was a slight increase compared to the previous month.

Specifically, textile and garment products with export value in May are estimated at $2.6 billion, an increase of 11% from the previous month; computers, electronic products and components are estimated at US$2.7 billion, increasing by 4.9% over the previous month; and machinery and equipment, tools and spare parts are estimated at $1.45 billion, increasing by 8.5% over the previous month;

The export value of footwear in May is estimated at $1.75 billion, increasing by 20.2% compared to the previous month; seafood products is $750 million, an increase of 18.3% over the previous month; and wood and wood products in May are estimated at $880 million, increasing by 2.6% over the previous month.

The export value of means of transport and spare parts in May hit $750 million, increasing by 12.6% over the previous month; with exports of iron and steel in May estimated at 600 thousand tonnes, an increase of 5.4% compared to the previous month and worth $380 million, increasing 1.7%.

The export value of phone and accessories in May are estimated at $3.85 billion, a decrease of 0.9% compared to the previous month.

The export of crude oil in May is estimated at 340 thousand tonnes, increasing by 56.6% over the previous month and the value is$190 million, an increase of 62.5%. The amount of crude oil exported in the first five months of 2019 is estimated at 1.71 million tons, the value is estimated at $879 million, increasing by 8.6% in volume and 1.4% in value over the same period last year.

Key import items also increased in May compared to the previous month, including computers, electronic products and components estimated at $4 billion, increasing by 0.2 % compared with the previous month; while machinery, equipment, tools and spare parts are $3.2 billion, increasing by 6.6% over the previous month.

Phones of all kinds and componentsis estimated at $1.1 billion, increasing by 7.5% over the previous month; fabrics of all kinds is $1.35 billion, increasing by 11.8% over the previous month; iron and steel of all kinds is estimated $950 million an increase of 9.4% over the previous month with the amount of import is 1.4 million tonnes, increasing by 7.8%; the import volume of plastic materials in 5/2019 is 550 thousand tonnes, valued at $813 million, increasing by 16.8% in volume and 14.3% in value over the previous month.

The import volume of other common metal is 170,000 tonnes, increasing by 12% and the value is $650 million, increasing by 17.1% over the previous month; raw materials for textile, garment, leather and shoes are estimated at $630 million, increasing by 18.9% over the previous month.

Imported petroleum products in May 2019 are estimated at 650 thousand tonnes, decreasing by 34.1% over the previous month and the value is $430 million, decreasing by 33.8%. The amount of imported petroleum in the first five months of 2019 is estimated at 3.72 million tons, the value is estimated at $2.32 billion, a decrease of 34.8% in volume and 38% in value over the same period last year.

The above figures showed that in May, the total value of import and export goods of the whole country is estimated at $44.3 billion, increasing by 6.9% over the previous month; in that export value is estimated at $21.5 billion, increasing by 5.2% and the value of import is $22.8 billion, increasing by 8.6%.

The total value of import and export goods in the first five months of 2019 is estimated at $202.02 billion, increasing by 8.5% over the same period last year, in that export is estimated at $100.74 billion increasing by 6.7% and import is estimated at $101.28 billion, increasing by 10.3%.

Therefore, Vietnam's trade balance of goods in May is estimated to suffer a deficit of $1.3 billion. With this estimate, from the beginning of the year to the end of May 2019, Vietnam has a deficit of $548 million.