Import and export turnover of Lao Cai Customs plummets

The International Border Gate of Kim Thanh II (Lao Cai) has temporarily suspended the operation in a month. Photo: T.Bình

According to the latest information of Lao Cai Customs Department, in the first quarter (from the beginning of the year to March 15), the whole Department had 340 enterprises carrying out procedures, increasing by eight enterprises over the same period last year.

However, the number of declarations only reached 6,270 papers, a decrease of 42.9% compared to last year.

Similarly, the import–export turnover also reached US$324.1 million, dropping by 19.9%. In particular, exports totalled US$218.8 million, decreasing by 14%. The main export items that plummeted were dragon fruit, watermelon, banana, mango, jackfruit, textiles and wood.

The import turnover was US$105.3 million, a drop of 30%. The reason for the decline in import turnover was due to items such as electricity, fertilizer and plastic products.

Regarding revenue collection, the whole department collected VND288.7 billion, reaching 18.74% of the assigned target of the Ministry of Finance for the whole year, decreasing by 2.01% over the same period last year.

Since February 17, as Hekou authority (China) temporarily suspended the operation of the International Border Gate of Kim Thanh II (Lao Cai) – Hekou, meanwhile, this was the largest import-export area of Lao Cai, it seriously affects the results of Lao Cai Customs Department in the first quarter of 2022.