June 04, 2020 05:19

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Monitoring impact of Covid-19 epidemic on import-export turnover and Customs revenue

09:07 | 07/03/2020

VCN- The Covid-19 epidemic is still developing complicatedly and is forecast to affect import and export activities and revenue collection. This is one of key contents that was mentioned and discussed at the conference to review performance in February and deploy tasks in March of the General Department of Vietnam Customs on March 5.

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Import and export activities have been affected in the first months by Covid-19. Chart by: T.B

Director General of Vietnam Customs Nguyen Van Can chaired the conference. Deputy Director General Hoang Viet Cuong, Mai Xuan Thanh and leaders of departments under the General Department of Vietnam Customs also attended.

Analyse and assess closely impact of epidemic

At the conference, Director General Nguyen Van Can requested specialised departments continue to closely monitor, evaluate, analyse fully and promptly the impact of the Covid-19 epidemic on customs operation, especially import and export activities and revenue collection. 

From analysis and assessment, the departments continue to provide solutions to facilitate trade and ensure the efficiency of fighting smuggling, including prevention of the Covid-19 epidemic.

Notably, departments continue to grasp the operations of the business community to provide solutions.

Especially, departments need to grasp and implement directions of the Government and the Prime Minister in implementing solutions to facilitate enterprises in the current period, including postponement, reduce inspections and examinations.

In addition, the Director General also requested departments based on their assigned tasks and plans perform promptly and effectively in March.

He asked the Anti-Smuggling and Investigation Department and the Post Clearance Audit Department to strengthen investigation and inspection to handle violations of origin fraud.

He requested the Customs IT and Statistics Department to work with specialised departments to complete procedures to submit to the Ministry of Finance’s leader for approval of the plan re-designing the Customs information technology system.

In addition, he asked the Customs Control and Supervision to implement contents related to the new model of quality inspection and food safety inspection for imported goods under the Government's directions in Resolution 99 / NQ-CP 2019.

Trade surplus of nearly US$2 billion

Previously, Director of Office of the General Department of Vietnam Customs, Nguyen Tran Hieu said according to preliminary statistics (on March 3), Vietnam’s import and export turnover in February hit US$39.46 billion, up 6.9 percent compared to January. 

The export turnover reached $20.88 billion, up 14 percent compared to January and the import turnover reached $18.58 billion, down 0.1 percent.

Total import and export turnover in the first two months of the year reached nearly $76.36 billion, increasing by 5.6 percent compared to 2019.

Total export turnover reached $39.03 billion, up 8.4 percent and total export turnover reached $37.26 billion, increasing by 2.9 percent. 

Vietnam’s trade balance in February had a trade surplus of $2.3 billion. In the first two months of the year, the country had a trade surplus of $1.83 billion.

In February, FDI enterprises had total import and export value of US$ 25.64 billion.

Export turnover was $14.45 billion, up 23 percent compared to January and import turnover was $11.18 billion   compared to January.

In the first two months of the year, the FDI sector had total import and export value of $48.06 billion, accounting for 63 percent of total import and export turnover of the country and up 3.9 percent compared to 2019. 

Export turnover of this sector reached $26.18 billion, increasing by 5 percent compared to 2019, and import turnover reached $21.9 billion, increasing by 2.9 percent. 

According to the State Treasury, from the beginning of the year to the end of February, Customs revenue reached VND 49,970 billion, equivalent to 14.8 percent of the estimate, down 7.36 percent compared to 2019.

In February (from January 16 to February 15), the whole Customs sector (excluding data of the Hanoi Customs Department) tackled 915 violations, the value of infringing goods was estimated at VND 76.57 billion, and  collected VND 9.23 billion; prosecuted two cases and transferred nine cases to other agencies for prosecution.   

By Thai Binh/Ngoc Loan