Vietnam's imports and exports with China through the northern border gates decreased by more than 64% over the same period last year, reaching $4.15 billion in the first four months of the year.
The above information is quoted by the Ministry of Industry and Trade from customs. Accordingly, exports to China through border gates reached more than 509 million USD, down over 87% compared to the same period in 2021. Import direction from this country also decreased by 52.5% over the same period last year, reaching 3.2%. 64 billion USD.
In general, import-export turnover of Vietnam to China in 4 months reached 4.15 billion USD, down 64.5% over the same period last year.
According to the Ministry of Industry and Trade, the main reason for two-way trade through the border gate with China is because the country maintains a "zero Covid" policy and tightens epidemic prevention and control measures. ... This affects the speed of goods clearance at the land border border gates with China, even there are times when goods are stuck at the border gate for a long time.
In addition, transport infrastructure, logistics services for import and export of goods of some border provinces are still lacking and weak; railway international border gate has not been promoted due to the difference in rail gauge; The border trade infrastructure is still small in scale, unable to meet the requirements of goods exchange and circulation with China.
Many businesses of the two countries still choose to export "small quota" - a form of border resident exchange, which has many potential risks in terms of payment, quarantine, pressure issuance, price pressure, congestion...
Currently, border gates in Lang Son such as Huu Nghi, Tan Thanh and Chi Ma have cleared customs again after many months of stopping because the Chinese side tightened Covid-19 prevention.
At Lao Cai border gate, the government of Yunnan province also restored customs clearance of goods at many pairs of border gates, but still stopped customs clearance of many agricultural products, fresh fruits (dragon fruit, banana, lychee, longan, etc.) mango...). This leads to the volume of goods being sent to the border gates of Lang Son to complete export procedures, while the clearance capacity of the land border gates here has not improved.
For example, the clearance capacity at Tan Thanh border gate, Vietnam's main fruit export border gate to China, is now over 100 trucks a day, only one third of what it was before the Covid-19 epidemic.
Therefore, the Ministry of Industry and Trade is concerned about the risk of a recurrence of serious congestion like before the 2022 Lunar New Year if it is not removed in time.
Last year, China was Vietnam's largest trading partner and second largest export market. Two-way trade between the two countries in 2021 will reach nearly 166 billion USD, of which Vietnam's exports to this country are nearly 56 billion USD, while imports are about 110 billion USD.
Particularly, import and export turnover through land border gates with China last year reached nearly 42 billion USD, of which export was 15.6 billion USD, and import was 26.2 billion USD.
The products that Vietnam exports a lot to China are agricultural products, phone parts, computers, and imports most of the machinery, equipment, electronic products and components...