Vietnam-Laos trade posts growth in first five months
Vietnam-Laos trade expanded in the first five months of 2021 after a decline triggered by COVID-19, according to the Vietnamese Trade Office in Laos.
The figure surpassed US$570 million in the period, a year-on-year rise of 25%. Exports hit over US$280 million, up 23.6%.
In May alone, two-way trade hit US$113 million, surging 56.7% against the same period last year. Import turnover reported growth of 83.8%.
Vietnam’s major exports included machinery, equipment, tools and spare parts in excess of US$13.4 million; ceramics worth over US$1 million; and garment-textile about US$900,000.
The country also shipped iron and steel products nearing US$6.8 million and petrol and oil worth US$1.9 million to its neighbour.
Meanwhile, Vietnam imported close to US$10.3 million worth of timber and wooden products from Laos, along with ores and minerals, and rubber.
Trade Counsellor at the Embassy of Vietnam in Laos Le Thi Phuong Hoa said that the bilateral trade is projected to marginally rise next month as the countries are striving to curb the spread of COVID-19.
To support businesses, the trade office has devised a list of firms wishing to promote their products in Laos, helped them seek distributors and address bottlenecks in freight transportation, she added.