Vietnam-Laos trade increases by 19.2 percent in Q1

Illustrative image (Photo: VNA)

Vientiane (VNA) – Two-way trade turnover between Vietnam and Lao topped 403 million USD in the first quarter of this year, up 19.2 percent over the same period last year, according to the Vietnamese Trade Office in Laos.

Of which, Vietnam's export revenue hit 130 million USD, down 18 percent over the same period, while its imports from Laos picked up 52.4 percent year-on-year to 272 million USD.

Commodities that enjoyed high growth in the period include fertiliser, petrol, electric wire and cable with year-on-year rises of 161.6 percent, 142.3 percent and 42.5 percent, respectively.

Items that experienced a drop in export revenue include coffee with 80.7 percent, common metals and finished products with 76.6 percent, wood and wooden products with 49.7 percent.

Data from the trade office showed a rise in revenue of all items imported from Laos. Notably, Vietnam spent more than 28 million USD importing Lao ore and minerals, 405 percent higher than the same period last year.

It attributed the decrease in Vietnam's export turnover and rise in import turnover in the first quarter of this year to the fact that prices of products imported from Laos have surged due to a scarcity in supply caused by the Russia-Ukraine conflict./.