Lao Cai Customs reduces revenue collection by VND 124.2 billion

Professional activities at Lao Cai Customs Branch. Photo: M.Hùng

According to Lao Cai Customs Department (from January 1 to March 15), the whole department has only collected VND227.8 billion, reaching 14.23% of the target assigned by the Ministry of Finance; 12.65% of the target set by the General Department of Vietnam Customs; and hit 9.9% of the target assigned by Lao Cai province; down by 35.44% over the same period in 2019, equivalent to a decrease of VND124.2 billion.

According to Lao Cai Customs Department, the reason for the sharp decrease in revenue collection is the impact of the Covid-19 pandemic resulting in a low turnover of the department.

Specifically, in the first quarter, import-export turnover reached $249.9 million, 70% compared to the same period in 2019.

Notably, exports reached $152.5 million, down 35% (only equal to 65% compared to the same period in 2019); imports reached $97.4 million, down 20% (equal to 80% compared to the same period last year).

Main export products like agricultural products, iron ore, and yellow phosphorus also declined in export activities through Lao Cai Customs Department, the main export commodity groups showed an obvious decrease.

Typically, dragon fruit reached $60.6 million, down 31.52% (the same period reached 88.5 million USD) and ore reached $4 million, down 60.39% (reaching $10.1 million compared to the same period).

In terms of imports, the main commodities are agricultural products, tobacco, coke coal, electricity, fertilizers, chemicals, machinery, and equipment.

In particular, the key products also dropped remarkably, such as fertilizer with $21.6 million, down by 16%; coke coal reached $1.6 million, down by 93.3%; chemicals reached $6.2 million, down 3.1%.

Additionally, in the first quarter, Lao Cai Customs Department supervised 27,714 vehicles on entry and exit, including 12,160 Chinese cars and 15,554 Vietnamese cars. Meanwhile, trains on exit and entry of 320, including 160 entries and 160 exits.