Ba Ria - Vung Tau: Import-export turnover of many major items plunges

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Officials of Cai Mep Customs Branch guide procedures for businesses.

According to a report from the Ba Ria - Vung Tau Customs Department, as of September 15, the unit has processed more than 142,000 declarations of over 1,500 businesses. Total import-export turnover reached US$16.63 billion, down 9.24% year-on-year. Of which exports reached US$6.59 billion, down 8.81% and imports decreased by 9.52%. Accordingly, the department recorded a trade deficit of US$3.44 billion.

Notably, in the third quarter of 2023 alone (from June 16 to September 15), import and export value reached US$5.8 billion, down 5.46% year-on-year. This shows that the decrease in import-export turnover has narrowed significantly compared to the first months of the year. However, in terms of import-export structure, exports still fell by 11.5% to only US$2 billion, while imports only decreased by 1.75% to US$3.73 billion.

According to Ba Ria - Vung Tau Customs Department, import turnover of organic chemicals strongly declined by 39.6%; Coal and coke plummeted by 29.22%; aluminum and aluminum products plunged by 49.69%; cereals and soybeans fell by 5.53%; soybean meal decreased by 4.48%; raw leather and leather decreased by 11.62%; iron and steel and products from iron and steel decreased by 15.39%... Meanwhile, some products saw an increase in import turnover such as: nutritional products rose by 8.19%; machinery and equipment grew by 0.23%; and fertilizer surged by 67.17%...

On the contrary, the export turnover of many major items recorded a sharp decrease compared to the same period in 2022 such as: aluminum and aluminum products down 52.31%; wood and wooden products declined by 47.14%; iron and steel fell by 36.12%; garment products plunged by 24.94%; seafood plummeted by 30.88%; nonwoven products decreased by 8.35%; raw leather (except fur) and leather decreased by 3.78%...

However, during the month, some items with large turnover recorded an increase in exports compared to the same period in 2022 such as: exported fruit rose by 18%; cotton rose by 3.89%; boats rose by 35.24%...

From the reality of import and export turnover as above, budget revenue at Ba Ria - Vung Tau Customs Department in the third quarter of 2023 reached VND4,307 billion, as September 15, the department collected VND11,951 billion, down 22% year-on-year. Thus, Ba Ria - Vung Tau Customs Department has only completed 55% of the assigned revenue target.

According to statistics, items witnessed a decrease in revenue compared to the same period last year included palm oil down 69%; chemicals down 52%; machinery and equipment down by 46%; iron and steel down by 36%; seed capture down by 26%.

According to Mr. Dam Manh Hieu, Deputy Director of Ba Ria - Vung Tau Customs Department, in the remaining months of 2023, the unit will focus on budget collection, striving to complete the targets set by the General Department of Customs at the highest level. Ba Ria - Vung Tau Customs Department will coordinate with Customs branches to develop work plans with businesses with large contribution to raise revenue. However, it is estimated that by the end of 2023, the unit's expected revenue can be achieved at only VND 16,872 billion, equivalent to nearly 78% of the assigned target.