Vietnam's Trade Revenue Surges by 16.5%

In the first four months of 2026, Vietnam's import-export sector has experienced remarkable growth, leading to a 16.5 percent boost in government revenues from customs services, despite ongoing global economic uncertainties. The Customs Department reported a total turnover of 345.68 billion US dollars from January to April.

This figure marks a significant increase of 24.7 percent in comparison to the same timeframe in 2025. The exports reached 169.02 billion US dollars while imports totaled 176.66 billion US dollars, with taxable import-export turnover also rising to 61 billion US dollars, positively influencing state budget revenues.

By the end of April 2026, the customs sector had collected over 166.3 trillion Vietnamese dong in government revenue, achieving nearly 37 percent of the annual target, reflecting a year-on-year growth of 16.5 percent. Officials attribute this growth to heightened imports tied to production and public investment projects.

The Customs and Tax Operations Department noted a significant shift in import structures toward sustainable sectors, with imports of machinery, electronic components, chemicals, plastics, steel, and production materials reaching approximately 30.8 billion US dollars, which makes up more than half of the taxable import turnover.

There was also strong demand for imported automobiles, with over 72,600 vehicles valued at 1.8 billion US dollars entering the country in the first four months. While the quantity of vehicle imports has increased modestly, the surge in value has provided additional revenue for the state.

The acceleration of public investment fund disbursement is driving demand for imported machinery and industrial supplies for infrastructure projects. Notably, imports of gemstones, precious metals, and petroleum products have seen significant increases, further boosting customs revenue.

Despite these promising outcomes, authorities have cautioned about potential risks to revenue collection in the months ahead. A decline in crude oil imports and tax cuts on gasoline and aviation fuel are anticipated to have substantial impacts on customs revenue for the remainder of 2026, with projections suggesting an 11 trillion Vietnamese dong drop due to reduced fuel taxes.

Global trade protection measures present additional challenges, including new tariffs on hot-rolled steel imports from China and trade retaliations from the United States, which could affect both import demand and export capabilities in critical industries.

To maintain revenue objectives, customs authorities are increasingly utilizing artificial intelligence and digital technologies to enhance tax monitoring and combat fraud. They are also expanding electronic clearance systems and collaborating with financial institutions to boost processing efficiency and revenue management.

Official statements assert that the customs sector will concentrate on debt recovery, tax oversight, and risk forecasting to ensure stable revenue collection throughout a climate of economic and geopolitical volatility.