The General Department of Customs issued directives to provincial and municipal customs departments, highlighting specific issues related to steel imports.
Despite being the world''s third-largest rice exporter, Việt Nam has spent nearly US$1 billion on rice imports in the first nine months of 2024. The increase in rice imports is driven by a shift in rice cultivation trends.
The Vietnamese General Department of Customs reported that the country’s rice exports reached 713,546 tonnes, worth more than US$341 million, in October, up 22.3 per cent in volume and 23.9 per cent in value compared to September.
Viet Nam exported 235,000 tonnes of cassava and cassava products worth US$105.01 million in April, up 10.8 per cent and 31.7 per cent in volume and value year-on-year.
In the first months of the year, enterprises ramped up their imports of input materials and spare parts to meet their production and export demands for later months
Local exports of iron and steel reached 1.53 million tonnes with a value of nearly US$1.5 billion in August, marking the month with the highest export value of those products.
Viet Nam exported about 3.2 million tonnes of fuel pellets of various types last year, making it the world’s second-largest exporter of the product, according to the General Department of Customs.
According to trade experts, the above-mentioned trade deficit was not a worrisome figure as enterprises ramped up their imports of input materials to meet their production demands.
Applying risk management in customs operations will not only enable trade security and facilitation but will also allow the General Department of Customs to focus its resources on high-risk trade.
Viet Nam’s import and export activities recovered strongly in June, signalling a more optimistic outlook for the country’s foreign trade in the latter half of this year.