Vietnam – Laos trade increases by 10%

VCN – US $808 million is the total export turnover of Vietnam – Laos by the end of November, according to latest statistics of General Department of Vietnam Customs. 
vietnam laos trade increases by 10
Import - export activities between Vietnam and Laos in 5 years, the unit is "million USD". Sketch by T.Bình

In that, Vietnam exports achieved US $475 million, and imports from other countries totaled US $333 million.

In comparison with the same period in 2016, the total export turnover between the two countries increased by 10%. In particular, the exports increased by 12.8%, imports increased by 6%.

The main items exported to Laos are: petroleum; fertilizer, steel, machinery, equipment, tools and spare parts, means of transport, and spare parts. In comparison, imports items are mainly focused on key groups such as maize, ores, minerals, fertilizer, timber and wood products.

Notably, although the trade between the two countries is quite good, there are signs of further growth after a decline in 2016.

Specifically, the statistics show that, in 2013, the total value of trade turnover between the two countries reached for the first time, "billion USD" (reaching US $1.091 billion). In that, Laos has maintained the trade surplus by US $245.7 million.

The mark of "billion USD” has been maintained for three consecutive years (2013, 2014 and 2015). In particular, the highest figure was US $1,287 billion in 2014 and the import turnover from Laos was US $802, and exports to Vietnam were US $485 million.

In 2015, the value of turnover started to go down. Although it was still keeping a total value of over US $1 billion, the results for the whole year were US $166 million, which was lower than the year before (US $1.121 billion).

Then last year, the foreign trade between the two countries was moved from the "billion USD" milestone that had been set up three years ago when the turnover was only US $823 million. The main reason for this decline is that the imports of goods from Laos are continuously decreasing.

Specifically, the value of imports was US $802 million since 2014, the imports of goods from Laos dropped to US $587 million in 2015 and only reached US $345.3 million last year.

Thus, in 3 years (from 2014 to 2016), the imports from Laos decreased by US $456.7 million which was equivalent to a decline of 57%.

In terms of quantity of goods, imported goods from Laos are quite modest and similar, with 5 main groups: corn; ores, other minerals, fertilizer, timber and wood products, and ordinary metals.

Looking at the fluctuation of import and export activities between Vietnam and Laos over time, it is easy to see the dependence on a few items (especially as the direction of importing from Laos mainly depends on wood and wooden products). Therefore, when these groups have changes in turnover it will greatly affect the trade turnover between the two countries.

By Thái Bình/Thanh Thuy

Related News

Vietnam’s trade activity declines in early November despite strong year-to-date growth

Vietnam’s trade activity declines in early November despite strong year-to-date growth

VCN - Vietnam’s import-export activity showed signs of slowing in the first half of November, with total trade turnover reaching US$33.44 billion, a 9.7% drop (equivalent to US$3.58 billion) compared to the second half of October, according to preliminary data from the General Department of Vietnam Customs.
Import turnover of iron and steel hits billions of dollars

Import turnover of iron and steel hits billions of dollars

VCN – Vietnam mainly imports iron and steel from Asian markets such as China, Japan, and South Korea.
Hanoi Customs partners with businesses to boost import-export activities

Hanoi Customs partners with businesses to boost import-export activities

VCN - After a decade of fostering customs-business partnerships, Hanoi Customs Department has developed three collaborative models: Customs-Business Partnership, Customs-Import and Export Service Provider, and Customs-Business Association.
Da Nang Customs joins efforts to establish free trade zone proposal

Da Nang Customs joins efforts to establish free trade zone proposal

VCN - The Da Nang Customs Department is actively collaborating with local authorities and agencies to develop a proposal for the Da Nang Free Trade Zone (FTZ), aiming to drive new economic growth for both the city and the wider region.

Latest News

Vietnamese fisheries sector navigating headwinds in US market

Vietnamese fisheries sector navigating headwinds in US market

Vietnam's fisheries exporters stand at a critical juncture in the US market, facing a complex landscape of potential opportunities and significant challenges in the coming years.
CPTPP, UKVFTA to boost UK - Vietnam trade relations

CPTPP, UKVFTA to boost UK - Vietnam trade relations

Together with the UK - Vietnam Free Trade Agreement (UKVFTA), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) will create new opportunities for companies and consumers in the UK and Vietnam, affirmed British Ambassador to Vietnam Iain Frew.
Hai Phong creates breakthroughs in FDI attraction

Hai Phong creates breakthroughs in FDI attraction

The northern port city of Hai Phong has emerged as a leader in foreign direct investment (FDI) attraction, showcasing a robust portfolio of environmentally friendly projects.
Incentive mechanisms needed for semiconductor industry: PM

Incentive mechanisms needed for semiconductor industry: PM

Prime Minister Pham Minh Chinh, Head of the National Steering Committee for Semiconductor Industry Development, urged the development of incentive mechanisms and policies to promote the development of the semiconductor industry, while chairing the first meeting of the committee in Hanoi on December 14 morning.

More News

Logistics service businesses transform digitally to reduce costs

Logistics service businesses transform digitally to reduce costs

VCN - 4.0 technology application has enabled businesses to lower logistics costs by an average of 23% compared to traditional methods and shorten the order processing time by an average of 35% thanks to automation.
Necessary conditions for operating a "natural flavor" business

Necessary conditions for operating a "natural flavor" business

VCN - Businesses following the sustainable development trend have shown high adaptability and resilience to negative changes from the outside. Preparing to enter 2025, "profit-oriented" business will be gradually replaced by "natural flavor" business.
Garment industry urged to gain self-sufficiency in raw materials for UK expansion

Garment industry urged to gain self-sufficiency in raw materials for UK expansion

Vietnam’s garment and textile industry needs to develop a closed-loop supply chain with a focus on obtaining self-sufficiency in raw materials in order to meet the rules of origin under the UK – Vietnam Free Trade Agreement (UKVFTA) for expanding exports to this market.
Shrimp exports expected to hit 4 billion USD in 2024

Shrimp exports expected to hit 4 billion USD in 2024

With double-digit growth in key markets, Vietnam's shrimp exports are projected to rake in 4 billion USD in 2024, according to insiders.
B2C e-commerce market in bloom

B2C e-commerce market in bloom

Vietnam’s B2C e-commerce market in 2024 has experienced growth of 18-20% in the first ten months of 2024.
Promoting Vietnam - Poland trade through new maritime routes

Promoting Vietnam - Poland trade through new maritime routes

VCN - Vietnam-Poland trade and investment cooperation is expected to develop strongly in the coming time thanks to new maritime connections among the two countries that are about to be launched.
Total import-export turnover reaches US$715.55 billion in 11 months

Total import-export turnover reaches US$715.55 billion in 11 months

VCN - In November, total import-export turnover amounted to US$66.4 billion, down 4.1% compared to the previous month but up 9.0% compared to the same period last year.
MoIT sets export growth at 6% in 2025

MoIT sets export growth at 6% in 2025

The recovery of major markets such as the US and EU will be an important driving force for exports, especially in electronics, consumer goods and textiles, the MoIT said.
Vietnam's first logistics park opens in Lang Son

Vietnam's first logistics park opens in Lang Son

The Viettel Lang Son Logistics Park, the first of its kind in Vietnam, officially opened in Cao Loc district, the northern mountainous province of Lang Son, on December 11.
Read More

Your care

Latest Most read
Vietnamese fisheries sector navigating headwinds in US market

Vietnamese fisheries sector navigating headwinds in US market

Vietnam's fisheries exporters stand at a critical juncture in the US market, facing a complex landscape of potential opportunities and significant challenges in the coming years.
CPTPP, UKVFTA to boost UK - Vietnam trade relations

CPTPP, UKVFTA to boost UK - Vietnam trade relations

Together with the UK - Vietnam Free Trade Agreement (UKVFTA), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) will create new opportunities for companies and consumers in the UK and Vietnam, affirmed British Ambassador to Vietnam Iain Frew.
Hai Phong creates breakthroughs in FDI attraction

Hai Phong creates breakthroughs in FDI attraction

The northern port city of Hai Phong has emerged as a leader in foreign direct investment (FDI) attraction, showcasing a robust portfolio of environmentally friendly projects.
Incentive mechanisms needed for semiconductor industry: PM

Incentive mechanisms needed for semiconductor industry: PM

Prime Minister Pham Minh Chinh, Head of the National Steering Committee for Semiconductor Industry Development, urged the development of incentive mechanisms and policies to promote the development of the semiconductor industry, while chairing the first meeting of the committee in Hanoi on December 14 morning.
Logistics service businesses transform digitally to reduce costs

Logistics service businesses transform digitally to reduce costs

4.0 technology application has enabled businesses to lower logistics costs by an average of 23% compared to traditional methods and shorten the order processing time by an average of 35% thanks to automation.
Mobile Version