Vietnam-Laos trade turnover on the rise
Trade revenue between Vietnam and Laos in the first five months of this year stood at US$690.6 million, up 21% year-on-year.
According to the Vietnamese Trade Office in Laos, Vietnam’s export value reached US$255.02 million, down 9%, but its import hit nearly US$435.58 million, up 50%.
Vietnam’s major export items included iron and steel (US$36.5 million); oil and gas, fertilizer, fruits and vegetables (nearly US$20 million); and ceramics, electrical wires and cables, paper, textiles and garments (nearly US$7 million), among others.
Meanwhile, it imported ore and other minerals, fertiliser, wood and timber products, rubber, fruits and vegetables from the neighbouring country.
In May alone, bilateral trade was valued at nearly US$132.5 million, a year-on-year rise of 16.5%, of which Vietnam’s exports were worth close to US$62.8 million, up 0.8%, and imports US$69.7 million, up 35.5%.
The decrease in Vietnam's export revenue in the first five months was due to drops in the first three months, with just a slight rise of 6.5% in April.