Exim turnover across Vietnam's northern borders up 242% YoY in Q1 2023

27 Apr '23

2 min read

Pic: Claudine Van Massenhove/Shutterstock

Insights

Vietnam's northern border gates, most of which were closed in the last few months in 2022 due to Chinese measures to control COVID-19, have become busy after three years.
This has led to the import-export turnover with China through the northern border provinces rising by 242 per cent year on year to nearly $9.3 billion in the first quarter this year.

Vietnam’s northern border gates have been restored after three years of stagnation. This has led to the import-export turnover with China through the northern border provinces rising by 242 per cent year on year (YoY) to nearly $9.3 billion in the first quarter (Q1) this year.

Most border gates in these provinces were closed in the last few months in 2022 as China implemented measures to prevent and control the COVID-19 pandemic.

Preliminary statistics from the Lang Son, Cao Bang, Lao Cai and Mong Cai border gates showed higher turnover by mid-March.

Some northern provinces have signed agreements with Chinese localities to raise the working time of the day to support businesses, according to a report in a Vietnamese media outlet.

Statistics from the Lang Son customs department showed border-gate customs units have received and processed 23,985 sets of import and export declarations with a turnover of $622.44 million by the end of March 14, a YoY increase of 54.5 per cent.

In Cao Bang, import-export turnover through the locality grew by up to 60 per cent YoY, reaching $69.5 million. Export turnover rose by 214 per cent.

Import-export turnover through the Lao Cai international border gate reached nearly $186 million in the first three months this year. Of this, exports reached $92.4 million, up by 90.1 per cent YoY and imports were worth $93.2 million, up by 15.2 per cent.

The total import-export turnover at the Mong Cai border gate customs sub-department under the Quang Ninh customs department hit $504.96 million in the first quarter this year—a 102.01 per cent increase.

Fibre2Fashion News Desk (DS)

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