The Lao Bao International Border Gate in Vietnam's Quang Tri Province. - Laotian Times
VIENTIANE, July 26: Bilateral trade between Vietnam and Laos climbed 20.6% year-on-year to US$824 million in the first half of 2022, with fuels making up a large volume, reports Laotian Times.
According to the Vietnam Trade Office in Laos, of the figure, Vietnam’s export value to Laos reached over US$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 US$30.2 million (up 254.7%); and vegetables and fruits worth nearly US$22.4 million (up 78.1%).
Other Vietnamese exports to Laos included fertilizers (nearly US$20.3 million); electric wire and cable (over US$5 million); paper and paper products (over USD 8.1 million); textiles and garments (US$5.43 million); and ceramics (over US$6 million).
Meanwhile, Vietnam imported ores and other minerals (nearly US$53 million); fertilizers (US$46 million); wood and wood products (US$76 million); and rubber (US$109.4 million).
In June alone, trade between the two neighbors hit nearly US$134 million, up 29.9% compared to the same period last year, with Vietnam’s export turnover reaching US$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.
