Vietnam - Laos trade turnover up by 12% in Q1
VOV.VN - Vietnam’s trade turnover with Laos trade turnover during the first quarter of the year surged by 12% against the same period from last year to reach more than US$476 million, according to statistics released by Vietnam Trade Office in Laos.
In terms of the overall figure, Vietnamese exports to Laos soared by 13.5% to over US$145 million on-year, with major export items consisting of petroleum of all kinds, means of transport and spare parts, as well as iron and steel products.
Meanwhile, Vietnam imported goods worth US$331.6 million from the Lao market, up 11% on-year with key imported products being rubber, timber and wood products, along with ores and other minerals.
According to information given by experts, robust growth in trade turnover between the two sides can be attributed to the great efforts by relevant ministries, localities, and the business communities since the beginning of 2021 onwards.
Vietnam-Laos trade turnover has grown at between 10% and 15% annually and there are bright prospects ahead for raising bilateral trade turnover moving forward.
Last year's two-way trade turnover reached US$1.6 billion.
