Exports to Laos surge to record high
(VOV) - Vietnam’s exports to Laos for January swelled 47.96% on-year to US$53.43 million according to the latest official statistics from the Vietnam Industrial and Trade Information Centre (VITIC).
The nation’s export strategy with an emphasis on quality products and improving distribution channels to fuel growth in the market appears to be paying off a representative of VITIC said in reference to the marked improvement.
The iron and steel sector saw the largest rise in the one-month period escalating 116.97% to US$13.49 million, accounting for 25% of the total value of the nation’s combined exports for the month.
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Meanwhile the transport equipment manufacturing sector also witnessed high growth expanding 58.25% to US$6.24 million while oil dropped sharply by 50.79% to US$5.58 million.
Products with high export growth in January included plastics, machinery, equipment, and tool, coal, steel and iron products, electric wires and cables, ceramics and confectionary and cereals.
Meanwhile items that witnessed the most significant declines were and fruit, vegetables, fertiliser and metal and other products.