National trade turnover with Laos continues to rise
VOV.VN - Two-way trade turnover between the nation and Laos during the opening eight months of the year surged by 27% to reach US$1.076 billion compared to the same period from last year.
In relation to the figure, exports rose by 1.37% to US$414.5 million, while import turnover soared by 50.7% to US$662 million.
Total bilateral trade turnover this year is likely to reach US$1.6 billion, with this figure representing a rise of approximately 20% compared to 2021.
These statistics are expected to fulfill the target set by senior leaders of the two countries at the 44th meeting of the Vietnam – Laos Inter-Governmental Committee on Bilateral Cooperation.
Laos’ trade turnover throughout the reviewed period fell slightly by 1.1% to US$8.97 billion against the same period from last year, of which exports reached US$4.65 billion and imports hit US$4.32 billion.
The country is one of Laos' major trading partners, with key Laotian export items to the Vietnamese market being electricity, gold, paper and paper products, copper ore, rubber, and agricultural products, while Laos’ main imports include gasoline, oil, means of transport, equipment and machinery.
At present, the nation ranks third among the countries that Laos has chosen to import goods from, with turnover reaching US$304 million, duly accounting for 7.9% of Laos’ total import turnover.