Vietnam posts trade deficit with Laos
(VOV) - Vietnam suffered a trade shortfall of US$303.8 million with neighbouring Laos during the first nine months of the year, according to the latest statistics from the General Department of Vietnam Customs.
For the nine-month period, bilateral trade value between Vietnam and Laos jumped by 37.3% on-year to US$964 million with Vietnam exports reaching US$330 million, up 6.9% while imports were valued at US$634 million, up 61.8%.
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Vietnam mainly exports steel (US$63 million, up 4.7%), petroleum (US$56 million, down 24%) and motorbike spare parts (US$30 million, up 26.8%) to Laos.
Major imported products from Laos include wood and timber products (US$490 million).
Last year, Laos ranked 33rd out of the 200 total export markets of Vietnam with total export reaching US$423 million.