Import-export Value in Lao Cai Customs Rebounds Sharply

11:57:28 AM | 19/5/2020

The export and import value at Lao Cai customs offices soared in April, resulting in higher trade value in the year to date, according to the General Department of Vietnam Customs.

A representative from the Lao Cai Customs Department said that the department settled import and export procedures for 216 enterprises in April.

Notably, customs authorities handled 3,253 declarations, an increase of 788 forms. The export and import value climbed 86.3% to US$184.2 million.

In April, both exports and imports at customs offices in Lao Cai province advanced sharply. The export value roared 97% over March to US$109.3 million and the import value leaped 72.6% to US$74.9 million.

In the first four months of the year, the Lao Cai Customs Department handled procedures for 328 businesses.

Despite the strong growth in April, the import-export value still slumped 15.6% to US$508.7 million in the first four months because of a steep decline in the first quarter. In particular, exports plummeted 26.6% to US$293.4 million, while imports slightly rose 6% to US$215.3 million.

The Lao Cai Customs Department reported to collect VND120.47 billion for the state budget in April and VND475.5 billion in January-April period, equivalent to 29.68% of the yearly estimate (VND1,600 billion) and equal to only 73.3% collected in the same period of 2019.

Source: Vietnam Business Forum