Laos enjoys 400 million USD of trade surplus with Vietnam

Illustrative image (Source: AFP/VNA)

Vientiane (VNA) – Laos enjoyed over 400 million USD in trade surplus with Vietnam in the first six months of this year, excluding trade on power, according to Laos’ Ministry of Industry and Commerce.

The ministry reported that in the period, Laos earned about 620 million USD from exporting goods to Vietnam, while importing about 216 million USD worth of goods from the neighbouring country.

Meanwhile, Laos’ export revenue generated from the Chinese market in the first six months of this year hit 1.13 billion USD, while imports were 680 million USD.

However, the country suffered trade deficit with Thailand, with exports of 565.5 million USD and imports of 1.6 billion USD, according to the ministry.

It said that Vietnam is a major foreign investor and trade partner of Laos.

Last year, trade between Laos and Vietnam reached 1.37 billion USD, up 33 percent year on year, including Vietnam’s imports of 780 million USD, a surge of 70 percent over the previous year.

Vietnam mainly exports to Laos iron and steel, fuel, fertilisers, vegetables, ceramics, electrical wires, paper, and textiles, while importing ores and other minerals, fertilisers, timber and wood products, rubber and vegetables from the neighbouring country./.

VNA