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

Total import-export turnover through border gates of northern Lao Cai province, which borders China, reached nearly US$1.7 billion in 2020, equal to 94% of the previous year.

According to Director of provincial Customs Department Nguyen Viet Quang, of the figure, over US$1 billion came from exports, while US$610 million from imports, equivalent to 97% and 89% 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, fertilisers, chemicals, machinery and equipment.

Last year, the department’s State budget collection surpassed VND1.4 trillion (US$60.68 million), equal to 68.5% of the previous year's figure.

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