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Coronavirus costs Vietnam VND150 billion in lost revenue per day

The fast spreading novel coronavirus has sent State budget revenues from exports and imports plummeting, with tariff collections averaging a mere VND1.3 trillion per day over the past two months, down by VND150 billion year-on-year.


A container vessel is seen at the Cai Mep-Thi Vai international port. The novel coronavirus has sent State budget revenues from exports and imports plummeting

The department said on February 28 that tax revenues from export-import activities amounted to an estimated VND23.7 trillion in February, VND2.3 trillion lower than in January.

Most major import and export items, which significantly contribute to the State budget revenue and include oil, fuels, smartphones, phone parts and steel, dropped sharply, compared with the year-ago figure.

State budget revenues from import-export activities totaled an estimated VND49.7 trillion over the first two months of the year, down 8% year-on-year, Tuoi Tre newspaper reported.

Statistics from the General Department of Vietnam Customs indicated that the value and volume of many major imports plunged in February.

The country purchased some 650,000 tons of fuels in February, dropping by 20% in volume and 22.8% in value year-on-year.

Vietnam’s import value of machinery, equipment and accessories reached US$2.5 billion in February, down 3.7% year-on-year.

The country imported 900,000 tons of steel of all types in February worth US$540 million, down 8.5% in volume and 18.5% in value against the year-ago period.

Additionally, February saw the country import a mere 6,000 completely built cars, plummeting by 60% in volume year-on-year. SGT

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