Vietnam's import-export surges 15.3%

Vietnam's total import-export turnover reaches 745 billion USD as of December 14 (Photo: VNA)

Hanoi – Vietnam's total import-export turnover reached 745 billion USD as of December 14, marking a robust 15.3% growth compared to the same period in 2023, according to the General Department of Vietnam Customs.

Export revenues amounted to 384 billion USD, a nearly 14.5% increase, while imports value rose by 16.3% to approximately 361 billion USD.

The trade surplus stood at 23.4 billion USD, down from 25.71 billion USD during the same period last year.

Director of the Import-Export Tax Department Le Nhu Quynh reported that by December 10, state revenue from import-export activities reached 397.86 trillion VND, surpassing the annual target by 6.1% and reflecting a 13.8% increase year-on-year. The revenue for the entire year is expected to hit 420 trillion VND, equal to 112% of the target, representing a 13.9% increase compared to 2023.

Quynh attributed the increase to the increases in both the number of newly established businesses and their registered capital in 2024. Import-export turnover and taxable trade values saw respective increases of 15.4% and 15.3%. A notable rise in imports of high-revenue goods significantly boosted overall tax collection.

For 2025, the National Assembly has set a state budget revenue target of 411 trillion VND, based on GDP growth projections of 6.5–7% and crude oil prices ranging from 75 USD to 80 USD per barrel.

To achieve this target, Vietnam Customs said it will strengthen tax management, customs procedures, and post-clearance inspection while combating smuggling and trade fraud, while refining tax and customs regulations. Customs agencies will research and adopt centralised clearance models, and integrate tax and customs processes and information, creating foundations for digitising documents and automating customs process./.