Vietnam-Laos trade surges by 24% in 2022, beating expectations

This result exceeds the expectations set by the senior leaders of the two countries at the 44th meeting of the Vietnam Intergovernmental Committee South-Laos (approximately $1.6 billion).

Vietnam's exports to Laos reached $656.4 million in 2022, a 10.4% increase from 2021. 

The main exports include petroleum, fertilizers, iron and steel products, machinery, equipment, tools, spare parts, and transport means. Meanwhile, Vietnam's imports from Laos totaled $1.047 billion, a 34.6% increase from the previous year. The major imported items are wood and wood products, rubber, and corn.

In December 2022 alone, the total trade turnover between the two countries reached $211 million, a 60% increase from November 2022 ($132.1 million). Vietnam's exports to Laos in December reached $101 million, a sharp increase of 129% from the previous month ($43.6 million).

The main exports include petroleum, machinery, equipment, iron and steel products, and paper. Vietnam's imports from Laos in December amounted to $110.2 million, a 24.4% increase from November ($88.5 million), including rubber, fertilizers, vegetables, and fruits.

The impressive trade results in 2022 can be attributed to the regular coordination and organization of trade promotion activities and business connections between the two countries. 

This includes a business forum in April 2022, a trade conference in May 2022, a trade fair in August 2022, and a trade promotion forum in November 2022. The two sides also successfully organized a border trade cooperation conference and a mine and energy industry cooperation development conference in December 2022.

The representative of the Vietnam Trade Office in Laos highlighted the strong relationship and collaboration between the two countries, which has contributed to the positive trade performance in 2022.

Source: Bao Nhan Dan