Vietnam-Laos trade turnover rises 29% over nine months

Of the figure, Vietnamese exports reached US$465.7 million, up 4.1%, while its imports hit roughly US$755.8 million, a rise of 51.3%.

Major Vietnamese export items include fruits and vegetables at US$44.8 million, up 230%, oil and gas at US$52.4 million, up 268%, fertilisers of all kinds at US$26.5 million, up 53.4%, and other machinery, equipment, tools and spare parts at US$45.5 million, up 14.9%.

In contrast, Vietnam imported rubber, fertiliser, and wood and timber products, as well as ore and other minerals, from the neighbouring country.

Representative of the Vietnamese Trade Office in Laos noted that given the positive growth rate, it is estimated that this year will see total trade turnover between the two countries fetch US$1.6 billion, an annual increase of 20% to meet the target set out by the two sides’ leaders at the 44th meeting of the Vietnam – Laos Inter-Governmental Committee on Bilateral Cooperation.