Bilateral Trade Between Laos and Vietnam up 20.6% This Year

The Lao Bao International Border Gate in Vietnam's Quang Tri Province
The Lao Bao International Border Gate in Vietnam's Quang Tri Province.

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.