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 hit1.076 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 of50.7% year-on-year.

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

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

The main exports of Laos are electricity, gold, paper and paper-relatedproducts, copper ore, rubber, and agricultural products. Its main importsare 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 for7.9% of  total import turnover./.

VNA