August 13, 2022 | 19:47 (GMT+7)
Vietnam, Laos enjoy 24.2% rise in two-way trade in 7 months
Trade between Vietnam and Laos rose 24.2% in the first seven months of this year to nearly USD 949 million, with Vietnam's export value of nearly USD 586 million, reported the Vietnam Trade Office in Laos.
The office said that the major products Vietnam shipped to Laos included petrol, vegetables, fertilizers, clinker and cement, electric wires and cables, paper and paper products, ceramics, and garment products.
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Vietnam and Laos enjoy 24.2% rise in two-way trade in 7 months. (Photo for illustration) |
Meanwhile, Vietnam mostly imported from Laos fertilizers, rubber, wood and furniture, ore and other minerals.
In July alone, two-way trade hit USD 125 million, a surge of 54.1% year on year, including Vietnam’s export revenue of nearly USD 53.2 million, up 33.9%. This was the third consecutive month that Vietnam enjoyed an increase in exports to Laos, helping reduce the fall in the turnover to minus 1.6% from minus 6% in the first half of this year.
In August, Vietnam expects continuous rise in exports to Laos thanks to the stable conditions of the Lao economy, the reduction in petrol prices in the world and the rising number of Vietnamese investors in Laos.
Source: VNA