Thursday , November 30 2023

Vietnam-Laos trade increases 24% in 2022

Two-way trade revenue between Vietnam and Laos in 2022 grew 24% from the previous year to reach some $1.7 billion, beyond expectations of the two countries.

Vietnam exported $656 million worth of goods to the neighboring country in 2022, up over 10%, mainly oil and gas, fertilizers, steel, machinery and accessories, and means of transport.

Meanwhile, Vietnam’s imports were valued at over $1 billion, a year-on-year rise of 35%, with main items including wood and wood products, fertilizers, rubber and corn.

In December alone, the two-way trade stood at $211 million, up 60% from the previous year.

According to the Vietnam Trade Office in Laos, the two countries’ industry and trade sectors coordinated in organizing a range of trade promotion activities during the year, contributing to the rise of bilateral trade.

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