Lao Cai Customs Department saw a month-on-month fall of 19.1% in trade to a plunge of US$142.3 million in July.

Customs operation at Lao Cai International Border Gate Customs Branch.
Photo: Thai Binh

The department said 268 enterprises carried out customs procedures, down 15 enterprises from a month earlier. A total of 5,259 declarations were processed, falling 802 declarations.

Meanwhile, exports dropped by 29.9% to US$75.8 million. Imports fell by 1% to US$66.5 million.

Exports in the month reported a downswing due to the plunge of major items such as dragon fruit, litchi, cassava and watermelon.

However, exports in January-July maintained strong growth. A total of 512 enterprises carried out export procedures, up by 101 enterprises year-on-year. Total trade jumped 20.8% to more than US$1. 

Of figure, exports hit US$ 679.9 million, up 35.9%. Imports earned US$370 million.

Exports were mainly related agricultural products, yellow phosphorus, and peeled wood. Items of import included fertilisers, chemicals, coke, electricity, iron and steel, machinery and equipment.

As of the end of July, local customs officials collected tariffs on imports and exports worth VND839.575 billion, reaching 48.36% of the target set by the Ministry of Finance. The figure was equal to 44.15% of the target assigned by the Lao Cai Provincial People's Committee and 100.84% compared with the previous year.