HCM City: Imported automobile slightly decreased in May

Customs officials of Hiep Phuoc port Customs Branch inspect imported cars. Photo: T.H

According to HCM City Customs Department, the export turnover of HCM City’s border gates in May decreased over the previous month, so it caused slow growth in revenue collection.

Specifically, export turnover was US$3.781 billion in May and down by 19.9% compared to the previous month. Import turnover reached $4.901 billion, a decrease of 7.5% over the previous month. Of that, cars under 9 seats experienced slight decrease with turnover of $25.914 million, while turnover was $26.201 million, decreasing by 3.84% in April.

With the above impacts, if the revenue collection in April 2019 increased by 22.33% over the same period in 2018, the revenue collection only increased by 19.68% over the same period in 2018 which suffered a decrease of 2.65%.

By the end of May, HCM City Customs Department collected 49,000 billion VND, achieving 45% of its target (108,800 billion VND).

HCM City Customs Department forecasted that revenue collection in the last six months of 2019 would be unpredictable and challenging. HCM City Customs Department has directed its branches to implement the Director’s plans to facilitate trade for attracting revenue source and promote one time consultation.