Economics

Surge in Nam Giang border trade

Translated by H.THU Jan 05, 2025 14:05

(QNO) - According to the Nam Giang International Border Gate Management Board, there was a sharp increase in total goods volume through the border gate in 2024.

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A sharp increase of goods volume through Nam Giang border gate

In 2024, trade and movement at the Nam Giang International Border Gate experienced significant growth. By December 15, the total volume of goods reached over 1.78 million tons, a 474% year-on-year increase. This included 22,964 tons of exports (up 1.4%), 20,485 tons of imports (up 1.6%), 257,378 tons of temporary imports and re-exports (up 100%), and over 1 million tons of transit goods (up 591%).

Total trade value rose by 20% to USD 103.36 million, with exports at USD 26.45 million (up 22%) and imports at USD 76.91 million (up19%). VAT revenue totalled VND 134.5 billion (up 2.44%).

Traffic surged, with 112,156 vehicle trips (up 352%) and 181,807 passengers (up 45.5%).

Health inspections increased substantially, covering 94,994 individuals (up 118%) and 59,143 vehicles (up 344%), highlighting the growing importance of the border gate in trade and logistics.

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Increase in immigration numbers

Exported goods include machinery, construction materials for Lao hydropower projects, and consumer goods. Imports involve re-imported machinery. Transit goods primarily consist of cassava starch and bauxite.

It is recommended to better coordination between Vietnam and Laos to facilitate the import and export.

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