Vietnam-Laos trade up 28.3% in 10 months

Bilateral trade between Vietnam and Laos reached 1.36 billion USD in the first 10 months of 2022, up 28.3% year-on-year.
Vietnam-Laos trade up 28.3% in 10 months
Fertiliser production at Long My Fertiliser Factory. (Photo: VNA)

Of the total, Vietnam’s exports were valued at 512.3 million USD, up 3.7% year-on-year, mainly from the shipment of fruit and vegetables (51.7 million USD, up 260.7%), fuel (58 million USD, up 247%), iron and steel (53.7 million USD, down 8%), machinery and spare parts (52.1 million USD, up 4.5%), and fertiliser (29 million USD, up 55.5%).

Meanwhile, Vietnam spent 849.5 million USD on commodities from Laos, a year-on-year rise of 49.5%. The main imports included rubber (193.4 million USD, up 49%), fertiliser (80 million USD, up 11.8%), wood and wood products (116.6 million USD, up 47.7%), and ores and other minerals (71.9 million USD, up 4.4%).

According to the Vietnam Trade Office in Laos, two-way trade may reach about 1.63 billion USD for the entire 2022, an increase of over 20% compared to last year, fulfilling the target set by the leaders of the two countries at the 44th meeting of their Intergovernmental Committee on Bilateral Cooperation.

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(Source: VNA)