The General Department of Customs said import and export turnover was estimated to reach US$110 billion in the first seven months of 2011, up 30 percent year on year. State Budget revenues increased VND16.8 trillion over the corresponding period in 2010.
An official from the General Department of Customs said import and export turnover topped US$17 billion in July, of which exports accounted for US$8.4 billion, led by crude oil and coal; and imports made up for US$8.6 billion, down 0.2 percent from the previous month, led by computers, electronic products, machines and spare parts.
The trade deficit in July eased to US$200 million, a half reduction from a month earlier and equal to 12.8 percent of exports.
Vietnam saw big changes in automobile and motorcycle import. The country imported 42,007 finished motorcycles worth US$58 million, down 19 percent year on year. The spending on this import in July fell 17 percent from June.
The volume of imported automobiles was forecast to exceed 38,000 units worth US$205 million in the seven months, up 38.9 percent in volume and 41 percent in value year on year. However, the volume of July imports fell 45.2 percent to just 4,000 units from June (a drop of 3,302 units). As June import duty on the four-wheeler (a kind of consumer goods tax) is settled immediately in that month, the amount of tax in July thus plunges steeply.
New changes to procedures for automobile and motorcycle importation had considerable impact on the quantity. First, according to Resolution 11/NQ-CP of the Government dated February 24, 2011 on major measures to curb inflation, stabilise the economy and guarantee social security, ministries and sectors have worked out various measures to restrict imports, including Decision 1380/QD-BCT of the Ministry of Industry and Trade dated March 25, 2011 on a list of goods discouraged for import; or Notice 197/TB-BCT dated May 6, 2011 issued by the Ministry of Industry and Trade on prohibition of customs procedure clearance at international airports or border gates in favour of the three seaports of Hai Phong, Ho Chi Minh City and Da Nang; or Circular 43/2011/TT-BGTVT of the Ministry of Transport dated June 9, 2011 on regulations on warranty and maintenance of imported used and new automobiles for commercial purposes in Vietnam from July 24, 2011; or Decision 36/2011/QD-TTg dated June 29, 2011 issued by the Prime Minister on new import tariffs on passenger cars with 15 seats or less. These regulations caused import spending in July to fall.
In particular, Circular 20/2011/TT-BCT of the Ministry of Industry and Trade dated May 12, 2011 on additional procedures on import of cars with less than nine seats is considered a high obstacle to the entrance of foreign cars into Vietnam. Car importers, in addition to existing documents, are obliged to submit new documents to customs authorities, including importer or distributor authorization or proxy certificate granted by manufacturers, commercial contracts and dealership contracts with manufacturers, and the papers must be certified by Vietnam’s diplomatic agencies abroad. Besides, they must have certificates of maintenance establishment licensed by the Ministry of Transport. This circular took effect at the end of June 2011. More than 2,000 car importers reported encountering difficulties in importing cars into Vietnam.
Mr Hoang Viet Cuong, Deputy General Director of General Department of Customs, said: Stricter regulations are part of the Government’s programme to curb the trade deficit and enhance the competitiveness of Vietnamese goods, and protect the rights and interests of consumers.
Vietnamese
