Vietnam's export turnover to Laos expected to rise in July
|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.