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Subscribe to
The Saigon Times

Saigon Times Group is a leading Vietnamese media organization with prestigious business and consumer publications. After three decades of development, we have built a good reputation through our publications on economy, business and markets for Vietnamese and foreign readers.

Basic

Free

  • Free access to daily domestic news, podcasts and videos

Premium

$5 $1 /month
(VND 23,900)
Monthly Annual

  • Unlimited access to domestic news, podcasts, videos and magazine articles on current social / economic / trade / investment issues, commodity / financial/securities markets, M&A activity, FDI, local and foreign business communities and more.

AUTOMATIC RENEWAL REMINDER

  • Your payment method will then be automatically charged ₫ 899.000 every 365 days thereafter.
  • Your subscription will continue until you cancel.
  • You can cancel by using My account. Under My account, select "Unsubscribe" and then follow the instructions to cancel.
  • You can notify us of your intent to cancel at any time during your billing period. Cancellations take effect at the end of your current billing period.
28.9 C
Ho Chi Minh City
Saturday, March 15, 2025

Customs duty revenue surpasses 2024 target

By Truc Dao

Must read

HCMC – Tariff collections from foreign trade had surpassed its 2024 target by 2.6% by the end of November, rising 14.8% year-on-year to reach VND384.7 trillion, showed data from the General Department of Vietnam Customs.

In November alone, customs revenue totaled nearly VND37.3 trillion, marking a 5.5% decline from October. The country’s total trade value for the month stood at US$66.4 billion, down 4.1% from the previous month, but a trade surplus of US$1.06 billion was recorded.

For the first 11 months of 2024, Vietnam’s total trade reached US$715.55 billion, up 15.4% from the same period last year. Exports increased by 14.4%, and imports grew by 16.4%, resulting in a trade surplus of US$24.31 billion, a 7.3% year-on-year decline.

Customs authorities reported handling 16,390 violations in the first 11 months, involving goods valued at VND29.2 trillion. The agency initiated 24 prosecutions and referred 157 cases to other authorities for further investigation. Revenue from fines and confiscated goods contributed VND901 billion to the state budget.

While fewer smuggling and illegal trade cases were reported compared to 2023, the value of seized goods saw an increase.

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