Global Statistics

All countries
548,935,393
Confirmed
Updated on June 26, 2022 8:11 pm
All countries
520,723,315
Recovered
Updated on June 26, 2022 8:11 pm
All countries
6,350,765
Deaths
Updated on June 26, 2022 8:11 pm
Tuesday, August 9, 2022

Global Statistics

All countries
548,935,393
Confirmed
Updated on June 26, 2022 8:11 pm
All countries
520,723,315
Recovered
Updated on June 26, 2022 8:11 pm
All countries
6,350,765
Deaths
Updated on June 26, 2022 8:11 pm
Molderizer and Safe Shield

China-Vietnam trade shrinks over Covid-19 restrictions, border congestion

Vir Biotechnology Provides Corporate Update and

– More than $2.6 billion in cash, cash equivalents, investments and profit-share payments to be received from GSK expected to fund the company’s ongoing...

BA.5 Continues to Gain Ground, as Does Sublineage of BA.4 – NBC Chicago

According to the latest estimates from the Centers for Disease Control and Prevention, the BA.5 subvariant of COVID is still continuing to make...

China’s new iron chefs: Robots and AI dish out $4 menus in Shanghai

SHANGHAI -- Shanghai's newest "AI canteen" has all the hustle and bustle of a typical restaurant in China, except for one major distinction. Instead...





The overland trade between and saw a sharp decline in the first four months of the year, due to tightened Covid-19 safety measures and congested borders.


Vietnamese firms shipped just USD 509 million worth of goods to through the border, an 87 per cent dive year-on-year, reported Vietnamese publication VNExpress citing the customs data.


The report said that the imports from also dropped by 52.5 per cent to USD 3.64 billion.


Vietnam’s Ministry of Industry and Trade said that China’s zero-Covid strategy and tightened control of cross-border movement have largely impacted the trade between the two countries. The situation was worsened by the lack of transport, logistics and cross-border trade infrastructure, VNExpress reported.


Though trading through key border gates in the northern provinces of Lao Cai and Lang Son has resumed, the customs clearance has yet to return to pre-pandemic levels.


In Lang Son province, customs clearance is carried out at four border gates: Huu Nghi, Dong Dang, Chi Ma, and Tan Thanh.


Tan Thanh border gate in Lang Son is Vietnam’s main point for fruit export to China, but only 100 vehicles get customs clearance a day, a third of total vehicles compared to pre-pandemic level, VNExpress reported.


Amid this, if the required measures are not taken to control the delay in clearance, the border congestion could escalate further, said the Ministry.


Ever since the pandemic struck the country, the Chinese authorities have tightened COVID-19 safety measures. During the period, thousands of container trucks wait for hours at Vietnam’s border gates with China in the northern province of Lang Son in order to get clearance, VNExpress reported.


China was Vietnam’s largest partner last year, with bilateral trade reaching USD 166 billion.


exported USD 56 billion worth of goods to China, its second-largest import market, last year.


Trading through the border accounted for USD 42 billion, 37 per cent of it being Vietnamese exports. Agricultural produce and electronics components are Vietnam’s top export items to China.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor





Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Popular

Vir Biotechnology Provides Corporate Update and

– More than $2.6 billion in cash, cash equivalents, investments and profit-share payments to be received from GSK expected to fund the company’s ongoing...

BA.5 Continues to Gain Ground, as Does Sublineage of BA.4 – NBC Chicago

According to the latest estimates from the Centers for Disease Control and Prevention, the BA.5 subvariant of COVID is still continuing to make...

China’s new iron chefs: Robots and AI dish out $4 menus in Shanghai

SHANGHAI -- Shanghai's newest "AI canteen" has all the hustle and bustle of a typical restaurant in China, except for one major distinction. Instead...

Related Articles

Vir Biotechnology Provides Corporate Update and

– More than $2.6 billion in cash, cash equivalents, investments and profit-share payments to be received from GSK expected to fund the company’s ongoing...

BA.5 Continues to Gain Ground, as Does Sublineage of BA.4 – NBC Chicago

According to the latest estimates from the Centers for Disease Control and Prevention, the BA.5 subvariant of COVID is still continuing to make...

China’s new iron chefs: Robots and AI dish out $4 menus in Shanghai

SHANGHAI -- Shanghai's newest "AI canteen" has all the hustle and bustle of a typical restaurant in China, except for one major distinction. Instead...