Vietnam - Laos trade turnover reached nearly 949 million USD in the first 7 months of 2022

DNHN - In the first seven months of 2022, two-way trade turnover between Vietnam and Laos reached nearly US$949 million, up 24.2% over the same period last year. This increase is due to Vietnam's strong increase in exports to Laos.

 According to statistics from the Vietnam Trade Office in Laos, Vietnam's main exports to Laos reached nearly US$586 million, up 48.2%. Specifically: gasoline, oil (up 297.2%, reaching more than 39.4 million USD); vegetables (up 96.6%, reaching more than 25.4 million USD); fertilizers of all kinds (up 67.8%, reaching nearly 23.5 million USD); clinker and cement (up 32.4%, reaching nearly 2.16 million USD); electric wires and cables (up 22.4%, reaching nearly 5.7 million USD); paper and paper products (up 14%, reaching more than USD 9.45 million); ceramics (up 9.9%, reaching over 6.84 million USD); textiles and garments (up 0.1%, reaching nearly 6.5 million USD).

Vietnam's products imported mainly from Laos only reached nearly 363 million USD, down 1.6%. Specifically: fertilizer (up 98.5%, reaching nearly 48.6 million USD); rubber (up 67.7%, reaching nearly 130.4 million USD); wood and wood products (up 60.9%, reaching nearly USD 87.4 million); ores and other minerals (up 33.8%, reaching nearly US$58 million); other goods (up 33.6%, reaching more than USD 252.4 million).

In July alone, the two-way trade between the two countries reached nearly 125 million USD, up 54.1% over the same period in 2021. In which, the export turnover of Vietnam to Laos reached nearly 53.2 million USD. increased by 33.9%) thanks to the strong increase in exports of vegetables and petroleum. This is the 3rd month in a row marking an increase in Vietnam's export turnover to Laos, contributing to pulling back the decrease in export turnover from -6% in the first half of the year to only -1.6% in 7 months.

In the coming time, Vietnam's export turnover to Laos is expected to continue to increase because the Lao economy has stabilized again. Gasoline prices on the world market are gradually cooling down and more Vietnamese businesses come to Laos to connect trade. Besides, because the conflict in Ukraine has not shown any sign of ending, the import of Lao goods into Vietnam will also increase.

P.V (t/h)