In the first nine months of 2018, Hanoi recorded budget surplus of VND117.54 trillion (US$5.05 billion), stated the municipal Statistics Office.
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On breaking down, collections from domestic taxes and fees in the period stood at VND151.38 trillion (US$6.51 billion) or 70% of the year's estimate and up 15.7% year-on-year, while revenue from crude oil exports totaled VND2.3 trillion (US$98.96 million), or 123.4% of the year's estimate and up 36.6% year-on-year.
Of the total, the state sector contributed VND29.27 trillion (US$1.25 billion), equivalent to 55.4% of the estimate and up 9.9% year-on-year, and foreign invested firms VND17.97 trillion (US$773.21 million), up 6.4% year-on-year and equivalent of 58.8% of the estimate.
Meanwhile, Hanoi's state budget expenditures in the first nine months amounted to VND48.65 trillion (US$2.09 billion), of which, expenditure for development investment reached VND21.11 trillion (US$908.32 million) or 50.1% of the estimate, and regular spending VND27.1 trillion (US$1.16 billion), or 61.5% of the estimate.
Moreover, Hanoi's export turnover in the first eight months reached US$10.51 billion, up 21.6% year-on-year, while imports recorded US$22.49 billion, up 6.5% year-on-year. This resulted in a trade deficit of US$11.98 billion during the period.
In 2018, Hanoi aims to achieve a GRDP growth target of 7.3-7.8%. Along with this target, Hanoi strives to grow its service sector by 6.9-7.5% and those of industry and construction sectors by 8.2%-8.7%. Additionally, export turnover growth is expected to reach 7.5-8%.
