Vietnam-Laos trade turnover continues to increase

Tuesday, 26/10/2021 15:35
Vietnam’s main export items to Laos in January-November 2021 include iron and steel products, machinery, equipment, tools and spare parts, and fertilizers of all kinds.
According to the Vietnam Trade Office in Laos, from January to September 2021, two-way trade turnover between Vietnam and Laos reached more than 947 million USD, up 28.2% over the same period last year, of which exports posted more than 447 million USD, up 6%, and imports were valued at more than 499 million USD, up 57.9%.

Fertilizer products. (Photo: VNA)

Compared to the same period last year, when there was no local COVID-19 pandemic, two-way turnover rose by 14.4% and this rise was due to an increase of 54.8% in the import side, while the export side decreased slightly 11.4%.

The main export items of Vietnam to Laos in the 9 months include iron and steel products, worth more than USD 57.6 million; machinery, equipment, tools and spare parts reached 39.6 million USD; means of transport and spare parts nearly 5 million USD; and fertilizers of all kinds reached nearly 17.25 million USD.

The main products Vietnam imported from Laos during the period were rubber, worth more than 106.9 million USD; wood and wood products, 71 million USD; and ores and minerals, over 58 million USD.

In September 2021 alone, two-way trade turnover between the two countries reached over 99 million USD, up 10.8% year on year. Most exports to Laos decreased, only gasoline increased sharply to more than 2.3 million USD. Imports of Laos all increased, in which the strongest increase belonged to ore and minerals 8.5 million USD.

According to the Vietnam Trade Office in Laos, September continued to record a trade deficit of 21.57 million USD (only a trade surplus of 10,826 million USD in May 2021). Thus, over the past 9 months, Vietnam saw a trade deficit from Laos at 52.4 million USD./.