Import-export value through Lao Cai’s border gates declines due to COVID-19

Update: 09:48 | 14/01/2021
Total import-export turnover through border gates of northern Lao Cai province, which borders China, reached nearly 1.7 billion USD in 2020, equal to 94 percent of the previous year.
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Import-export value through Lao Cai’s border gates declines due to COVID-19
Container trucks waiting to conduct export procedures at Lao Cai's Kim Thanh II border gate. (Photo: VNA)

According to the Director of provincial Customs Department Nguyen Viet Quang, of the figure, over 1 billion USD came from exports, while 610 million USD from imports, equivalent to 97 percent and 89 percent of those of 2019, respectively.

The main exports are farm produce, iron ore, yellow phosphorus and peeled wood, while main imports include agricultural products, tobacco, fertilizers, chemicals, machinery and equipment.

Last year, the department’s State budget collection surpassed 1.4 trillion VND (60.68 million USD), equal to 68.5 percent of the previous year's figure.

Quang attributed the decrease to the negative impacts of the COVID-19 pandemic.

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(Source: VNA)