Vietnam-Laos trade turnover rises in first half

Wednesday, 27/07/2022 17:00
Trade turnover between Vietnam and Laos reached more than 824 million USD in the first half of the year, an increase of 20.6% compared to the same period last year, according to Vietnam News Agency.

Of this, exports were valued at more than 309.4 million USD, down 6%, while imports reached nearly 514.6 million USD, up 45.4%.

 Cargo waiting for customs clearance procedures at Lao Bao International Border Gate. (Photo: VNA)

According to the Vietnam Trade Office in Laos, Vietnam’s main export commodities to Laos are petroleum, valued at nearly 30.2 million USD (up 254.7%); vegetables and fruits, nearly 22.4 million USD (up 78.1%); fertilizer, nearly 20.3 million USD; electric wire and cable, more than 5 million USD; clinker and cement increased over 1.9 million USD (up 29.1%); paper and paper products, over 8.1 million USD (up 12.2%); textiles and garments, over 5.43 million USD (up 8.4%); and products from ceramics, over 6 million USD (up 7.1%).

Vietnam’s main import commodities from Laos are ores and other minerals worth 53 million USD (up 41.5%); fertilizer nearly 46 million USD; wood and wood products nearly 76 million USD; and rubber nearly 109.4 million USD.

In June alone, two-way trade turnover posted nearly 134 million USD, a year-on-year rise of 29.95%, in which exports to Lao were worth nearly 54.6 million USD, a year-on-year increase of 11.1% and import turnover from Lao reached more than 79.2 million, a year-on-year rise of 47.1%.

In July, export turnover is expected to increase because the Lao economy has temporarily stabilized after the government approved a credit package worth 200 million liters of petrol and oil, foreign currency trading is tightened, and many Vietnamese enterprises have come to Laos to connect trade.

For imports, the turnover still increased as the demand for goods from Laos continued to increase because the conflict in Ukraine has not shown any signs of ending./.