Vietnam-Laos trade turnover on the rise

Illustrative image (Source: VNA)

Trade revenue between Vietnam and Laos in the first five months of this year stood at 690.6 million USD, up 21 percent year-on-year.

According to the Vietnamese Trade Office in Laos, Vietnam’s export value reached 255.02 million USD, down 9 percent, but its import hit nearly 435.58 million USD, up 50 percent.

Vietnam’s major export items included iron and steel (36.5 million USD); oil and gas, fertilizer, fruits and vegetables (nearly 20 million USD); and ceramics, electrical wires and cables, paper, textiles and garments (nearly 7 million USD), 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 132.5 million USD, a year-on-year rise of 16.5 percent, of which Vietnam’s exports were worth close to 62.8 million USD, up 0.8 percent, and imports 69.7 million USD, up 35.5 percent.

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 percent in April./.