Bilateral trade between Vietnam and Laos climbed 20.6% year-on-year to USD 824 million in the first half of 2022, with fuels making up a large volume.
According to the Vietnam Trade Office in Laos, of the figure, Vietnam’s export value to Laos reached over USD 309.4 million, down 6%, while its imports were USD 514.6 million, up 45.4%.
Vietnam’s main export products to Laos were petrol, with nearly USD 30.2 million (up 254.7%); and vegetables and fruits worth nearly USD 22.4 million (up 78.1%).
Other Vietnamese exports to Laos included fertilizers (nearly USD 20.3 million); electric wire and cable (over USD 5 million); paper and paper products (over USD 8.1 million); textiles and garments (USD 5.43 million); and ceramics (over USD 6 million).
Meanwhile, Vietnam imported ores and other minerals (nearly USD 53 million); fertilizers (USD 46 million); wood and wood products (USD 76 million); and rubber (USD 109.4 million).
In June alone, trade between the two neighbors hit nearly USD 134 million, up 29.9% compared to the same period last year, with Vietnam’s export turnover reaching USD 54.6 million, up 11.1%.
It is expected that Vietnam’s export turnover to Laos will continue to climb in July due to the temporary stabilization of the Lao economy following the Government’s approval of a credit package to purchase 200 million liters of fuel and the tightening of foreign currency transactions.