Car import turnover through Hai Phong exceeds half a billion dollars

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Car import turnover by Hai Phong Customs Department increased sharply at the end of the year. Photo: T.Binh.

According to Hai Phong Customs Department, in October, 2018, car import turnover reached US$ 72.8 million, up 83.6% over the same period in 2017.

Thus, by the end of October, total import turnover of this item by the Department reached nearly US$ 507 million.

Remarkably, car import turnover by Hai Phong Customs accounted for nearly 43% of the country’s total car import turnover at the same time.

Cars are one of the key imported items in Hai Phong Customs Department with a sharp increase in turnover in the October compared to the same period of 2017. Because, the key items such as iron and steel, gasoline fell sharply while machinery and equipment showed a slight growth rate.

Specifically, in October, 2018, the import turnover of iron and steel reached nearly US$ 113.8 million, down 46.3% over the same period; Petroleum reached US$ 20.35 million, down 20.8%; machinery and equipment reached US$ 373.8 million, up 1.8% .

The sharp increase in car import turnover was one of the reasons that helped Hai Phong's revenue reach VND 5,677 billion. According to reporters, this is the highest revenue month of Hai Phong Customs Department since the beginning of the year.

Thereby, bringing the Department’s total revenue in 10 months to VND 43,100 billion, reaching 86.10% of the target assigned by the Ministry of Finance (VND 50,050 billion), reaching 85.10% of the target assigned by the General Department of Customs (VND 50,640 billion).

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As a result, in the last two months of the year, Hai Phong Customs must collect nearly VND 6,957 billion to fulfil the target assigned by the Ministry of Finance, equivalent to more than VND 3.478 trillion per month and must collect nearly VND 7,547 billion to achieve the target assigned by the General Department of Customs, equivalent to 3,773 billion per month.