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Vietnam-Laos trade records impressive growth in 2022

Two-way trade revenue between Vietnam and Laos in 2022 grew 24% from the previous year to reach some 1.7 billion USD, beyond expectations of their leaders at the 44th meeting of the Vietnam – Laos Inter-Governmental Committee on Bilateral Cooperation earlier last year.
Vietnam-Laos trade records impressive growth in 2022 ảnh 1Illustrative image (Source: VNA)
Vientiane (VNA) – Two-way trade revenuebetween Vietnam and Laos in 2022 grew 24% from the previous year to reach some1.7 billion USD, beyond expectations of their leaders at the 44th meeting ofthe Vietnam – Laos Inter-Governmental Committee on Bilateral Cooperation earlierlast year.

Vietnam exported 656.4 million USD worth of goods tothe neighbouring country in 2022, up 10.4%, mainly oil and gas, fertilizers,steel, machinery and accessories, and means of transport.

Meanwhile, Vietnam’s imports were valued at 1.04 billionUSD, a year-on-year rise of 34.6%, with main items including wood and woodproducts, fertilizers, rubber and corn.

According to the Vietnam Trade Office in Laos, thetwo countries’ industry and trade sectors coordinated in organising a range of tradepromotion activities during the year, including a business forum in April, a conference on trade connectivity in farm produce, food and consumer goods inMay, a trade fair in Vientiane in August, and a trade forum in November,among others.

In December alone, the two-way trade stood at 211million USD, up 60% from the previous month./.

VNA
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