Vietnam's export turnover to Laos expected to rise in July
It is expected that Vietnam's export turnover to Laos in July will continue to be on the rise because the Lao economy has temporarily stabilised.
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| Vehicles are waiting for customs clearance procedures at Lao Bao International Border Gate. (Photo: VNA) |
Two-way trade between Vietnam and Laos in the first half of 2022 increased by 20.6% year-on-year to 824 million USD, according to the Vietnam Trade Office in Laos.
Of the figure, Vietnam’s export value to Laos reached over 309.4 million USD, down 6%, while its import was 514.6 million USD, up 45.4%.
Vietnam's main export products to Laos were petrol, with nearly 30.2 million USD (up 254.7%); and vegetables and fruits worth nearly 22.4 million USD (up 78.1%).
Other exports of Vietnam to Laos included fertilizer (nearly 20.3 million USD); electric wire and cable (over 5 million USD); paper and paper products (over 8.1 million USD); textiles and garments (5.43 million USD); and ceramics (over 6 million USD).
Meanwhile, Vietnam imported ores and other minerals; fertilizers; wood and wood products; and rubber, respectively worth nearly 53 million USD; 46 million USD; nearly 76 million USD; and nearly 109.4 million USD.
In June alone, two-way trade hit nearly 134 million USD, up 29.9% compared to the same period last year, with Vietnam’s export turnover reaching 54.6 million USD, up 11.1%.
It is expected that Vietnam's export turnover to Laos in July will continue to be on the rise because the Lao economy has temporarily stabilised after the Government approved a credit package to buy 200 million litres of petrol, and the trade of foreign currency has been further tightened.
(Source: VNA)
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