Import and export turnover in the first quarter decreased sharply

Separate routes serve LSP's logistics operations.

According to the Department of Finance, although the export market has recovered, it is not yet stable, and the unstable output has affected local production and export. Exports of goods are expected to face many difficulties such as exchange rate fluctuations and tense political conflicts that continue to push up freight rates. Statistics show that the items that have decreased sharply are: plastic raw materials down 53.83%; textile, garment, leather and footwear raw materials down 19.98%;...

The demand for production and export of goods decreased, leading to a decrease in the demand for imported goods in the first quarter, mainly: fertilizers of all kinds decreased by 35.8%; raw materials for textiles, garments, leather, and footwear decreased by 30.86%; machinery, equipment, tools, and other spare parts decreased by 31.03%.

Also according to the report of the Department of Finance, in the first quarter of 2025, import and export tax revenue was about VND 4,884 billion, down 7.03% over the same period (due to a sharp decrease in budget revenue from Long Son Petrochemical Company Limited). The company has temporarily suspended operations since October 2024. As of March 31, LSP paid VND 22 billion to the budget, while in the same period last year it paid VND 715 billion). In addition, the expected tax revenue of Vietnam Oil Corporation (PV OIL) decreased by 31.4% over the same period due to a decrease in the export plan of crude oil batches in the first quarter. By the end of the first quarter, PV OIL paid VND 637 billion, while in the same period it paid VND 928 billion.

News and photos: HA AN

Source: https://baobariavungtau.com.vn/kinh-te/202504/kim-ngach-xuat-nhap-khau-quy-i-giam-manh-1040544/