Tag: Import and export

There is a significant network of gates and openings on Vietnam’s border with China but the prolonged pandemic strategy of the Chinese side has resulted in falling trade. Figures from Lao Cai province show that total trade in the first nine months reached $1.7 billion, down 39.4 per cent year-on-year.

According to the General Department of Vietnam Customs, of the more than $371 billion in import and export turnover in the first half of 2022, turnover with Asia was nearly $240 billion, or 64.5 per cent. Trade turnover with Africa fell just 0.3 per cent, to more than $4 billion. Trade was in surplus by $743 million in the first half.

Total export and import turnover reached $108.52 billion in the first two months of 2022, a 13 per cent increase year-on-year, with exports rising 10.2 per cent and imports 15.9 per cent. Vietnam posted a trade deficit of $937 million.

Customs agencies will temporarily suspend inspections of the operating conditions of customs brokerage agents at enterprises and will accept scanned copies of certain documents in customs dossiers. Notably, for the first time, businesses that are slow in completing customs procedures will not be subject to fines.

The total import-export value of FDI enterprises from the beginning of the year to July 15 stood at $238.44 billion, up 36.2 per cent compared to the same period last year.