Vietnam-Laos trade turnover rises over 19% in first quarter

Friday, 22/04/2022 16:36
The two-way trade turnover between Vietnam and Laos in the first quarter of the year reached over 403 million USD, up 19.2% over the same period last year, according to the Vietnam Trade Office in Laos.

Specifically, Vietnam’s exports to Laos reached more than 130 million USD, down 18%, while imports were valued at 272 million USD, up 52.4% compared to the same period last year.

Photo for illustration. (Source: VNA)

Vietnam’s exports to Laos recorded the highest growth in the first three months, including fertilizers up 161.6%  (valued at over 10 million USD); petrol and oil, 142.3% (8.8 million USD); electric wire and cable, 42.5% (nearly 1.9 million USD); iron and steel of all kinds, 18.6% (22.7 million USD); textiles and garments, 17% (over 2.5 million USD); clinker and cement, 15.9% (over 860,000 USD); and products from ceramics, 6.6% (more than 3.1 million USD).

Regarding Vietnam’s imports from Laos, statistics of the Vietnam Trade Office in Laos showed that all items saw growth. Of which, exports of ores and other minerals increased by 405.8% (valued at 28 million USD); wood and wood products, 67.7% (over 33 million USD); rubber, 45.3% (over USD 54.2 million); fertilizer, 34.8% (18.3 million USD); vegetables and fruits, 31.6% (nearly 4.3 million USD); and other goods, 34.2% (over 133.1 million USD).

Decrease in export turnover from Vietnam to Laos caused a decrease in export turnover in the first quarter, while in the opposite direction, import turnover from Laos increased sharply. The reason is that the products imported from Laos are mainly ores, minerals, rubber and wood, which suffered high price increase and scarce supply due to the Russia-Ukraine war.

According to the Vietnam Trade Office in Laos, the two-way trade turnover between the two countries in April 2022 is expected to continue to increase in the import direction./.