Post by : Shakul
In the first four months of 2026, Vietnam's import and export operations demonstrated notable growth, with government revenue from customs rising by 16.5% despite ongoing global economic challenges. The Customs Department reported a total import-export turnover of 345.68 billion US dollars from January to April this year.
This marked an impressive increase of 24.7% compared to the same period last year. Export figures reached 169.02 billion US dollars, while imports accounted for 176.66 billion US dollars. Taxable turnover saw a strong increase as well, hitting 61 billion US dollars, positively impacting state revenue collection.
By the end of April 2026, Vietnam’s customs sector gathered over 166.3 trillion Vietnamese dong in government revenue, achieving nearly 37% of the annual target, and showcasing a year-on-year rise of 16.5%. Officials attributed this growth to heightened imports driven by production and public investment projects.
The Customs and Tax Operations Department noted a significant shift toward sustainable economic sectors in import structures. Machinery, electronic components, chemicals, and production materials made up approximately 30.8 billion US dollars, which constitutes more than half of the taxable import turnover.
Additionally, the country experienced a surge in completely built automobile imports, with over 72,600 vehicles valued at around 1.8 billion US dollars entering Vietnam in the first four months. Although vehicle numbers increased moderately, the rise in import value provided a boost to state revenue.
The Vietnamese government’s swift public investment fund allocations created a robust demand for imported machinery and industrial supplies for infrastructure development. Moreover, imports of gemstones, precious metals, and petroleum products also recorded significant increases, contributing further to customs revenue.
Despite these achievements, officials warn of potential risks that may jeopardize revenue collection in the upcoming months. Declining crude oil imports and tax reductions on gasoline and aviation fuel are predicted to considerably impact customs revenue for the remainder of 2026. It is estimated that lowering fuel taxes could lead to a revenue decrease of up to 11 trillion Vietnamese dong.
Trade protection measures in international markets pose additional challenges for Vietnam’s trade sector. Imposed tariffs on hot-rolled steel imports from China and trade retaliations from the United States may influence import demand and export efficiency in critical industries.
To meet revenue goals, Vietnam’s customs officials are enhancing the use of artificial intelligence and digital technologies for better tax oversight and fraud prevention. The customs agencies are also broadening electronic processing systems and strengthening partnerships with banks to heighten efficiency and revenue management.
Authorities have indicated that the customs sector will persist in focusing on debt recovery, tax oversight, and market risk forecasting to assure stable revenue collection during a time rife with economic and geopolitical uncertainties.
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