From January to May, Vietnam ships 58,000 tonnes of iron and steel to Laos for 42.9 million USD, making the products again the biggest hard currency earner in the Lao market. (Photo: VNA)

Hanoi (VNA) – Vietnam’s export turnover to Laos rose by 9.87 percent to 244.6 million USD in the first five months of 2018, according to the General Statistics Office (GSO).

From January to May, Vietnam shipped 58,000 tonnes of iron and steel to Laos for 42.9 million USD, making the products again the biggest hard currency earner in the Lao market which accounted for 17.5 percent of the total exports.

They were followed by, of which Laos imported 63,200 tonnes for 42 million USD from Vietnam; vehicles, parts and accessories; products made of iron and steel; and machinery and equipment.

Growth was seen in most of exported items with the highest recorded in non-wood furniture, at 44.47 percent, which brought home 417,600 USD.

According to the General Department of Vietnam Customs, two-way trade between Vietnam and Laos amounted to 892.9 million USD in 2017, up 8.5 percent from the previous year and with a trade surplus of 156.1 million USD enjoyed by Vietnam.

Last year, Vietnam’s exports to Laos reached 524.5 million USD, a year-on-year increase of 9.7 percent while Vietnam imported 368.4 million USD worth of commodities from Laos, up 6.8 percent year-on-year. Laos’ main export products to Vietnam included fertilizers, ores and minerals, and wood.-VNA