Vietnam- Laos trade turnover increases steadily

Thanaleng Vientiane dry port in Hadxaiphong district of Vientiane capital of Laos. (Photo: VNA)

Vientiane (VNA) – Trade turnover between Vietnam and Laos hit 1.076 billion USD in the first eight months of this year, an increase of 27% compared to the same period last year.

Of this, Vietnamese exports to Laos were valued at 414.5 million USD, up 1.37% year-on-year, while its imports from Laos reached 662 million USD, a rise of 50.7% year-on-year.

The total trade turnover between the two countries is expected to hit 1.6 billion USD this year, an increase of 20% against last year’s figure, fulfilling the target set by their leaders at the 44th meeting of the Vietnam-Laos Inter-Governmental Committee on Bilateral Cooperation.

From January to August, two-way trade turnover between Laos and the world reached 8.97 billion USD, down 1.1% over the same period last year, of which exports brought home 4.65 billion USD while imports reached 4.32 billion USD. Laos enjoyed a trade surplus of 330 million USD.

The main exports of Laos are electricity, gold, paper and paper-related products, copper ore, rubber, and agricultural products. Its main imports are petrol, vehicles, equipment and machinery.

Vietnam is one of Laos' main trading partners, ranking third among its exporters with a turnover of 304 million USD, accounting for 7.9% of  total import turnover./.

VNA