Hanoi (VNA) – Vietnam's state budget revenue reached an estimated 1.341 quadrillion VND (50.9 billion USD) in the first five months of 2026, fulfilling 53% of the annual target and posting a year-on-year increase of 15.4%, according to the Ministry of Finance (MoF).
Revenue collection in May alone was estimated at nearly 216.3 trillion VND, equivalent to 8.6% of the yearly plan and about 76.9% of the average monthly revenue recorded during the first four months of the year.
Of the five-month figure, domestic revenue remained the main contributor, totalling an estimated 1.168 quadrillion VND, or 53.1% of the annual target, up 15.8% from the same period last year.
Crude oil revenue was estimated at 24.8 trillion VND, reaching 57.7% of the annual plan and rising 15.4% year-on-year. The average crude oil settlement price stood at around 91.4 USD per barrel during the period, significantly exceeding budget assumptions, while output was estimated at 3.5 million tonnes.
Revenue from import – export activities contributed an estimated 147.2 trillion VND, equal to 52.9% of the annual target. Gross collections from foreign trade activities rose 15.3% year-on-year to 212.3 trillion VND, while VAT refunds reached approximately 65.1 trillion VND.
The MoF noted that tax and customs authorities continued implementing tax, fee and charge reduction policies to support businesses and households, stimulate production and business activities, and bolster economic growth. Newly introduced measures included reductions in environmental protection tax, VAT, and excise tax on fuel products. Total tax and fee relief provided during the first five months was estimated at 72.8 trillion VND.
On the expenditure side, state budget spending in May stood at about 186.6 trillion VND, bringing total spending during the January–May period to 845.4 trillion VND, or 26.8% of the annual estimate, up 3.3% from a year earlier.
Development investment spending was estimated at 206.2 trillion VND, equivalent to 18.4% of the plan approved by the National Assembly, with public investment disbursement reaching some 20.3% of the target assigned by the Prime Minister. Interest payments on government debt so far accounted for 43% of the annual estimate while recurrent spending reached 32.4%.
The MoF said budget spending continued to meet demand in socio-economic development, national defence and security, state administration, debt servicing, and social welfare programmes. Salaries, pensions and social assistance payments were disbursed on schedule.
During the period, the central budget contingency fund allocated over 5.6 trillion VND to ministries, central agencies and localities to address natural disasters, disease outbreaks and other urgent tasks. Meanwhile, 15,709 tonnes of rice from national reserves were distributed to support people during the Lunar New Year holiday and the annual lean season./.
State budget collection from import-export activities rises 16.5% in four months
Vietnam's export turnover in the January-April period totalled 169 billion USD, up 20.1% compared to the same period last year, while imports rose 29.5% to 176.6 billion USD. Total trade revenue reached 345.6 billion USD, marking a year-on-year increase of 24.7%.
