Last year, the bilateral trade exchange between Vietnam and Laos reached over US$1.27 billion. Of the figure Laos exported $123.5 million worth of goods to and imported $552 million worth of goods from Vietnam.

In the first seven months of this year, Vietnam exported $341.2 million worth of goods to Laos, increased by 10.72 per cent over the same period last year, showed the statistics figures of the General Department of Customs.

Laos imported mostly petroleum; means of transport and spare parts; iron and steel products; machines, equipment and spare parts; and fertilizer from Vietnam.

Petroleum was leading the list of items imported by Laos from Vietnam in the first seven months of this year with 86,000 tons worth of $58.3 million, up by 3.68 per cent in quantity but down by 17.61 per cent in value over the same period last year.

Iron and steel followed with 76,200 tons worth of $56.7 million, up by 19.86 per cent in quantity and 31.2 per cent in value; and then means of transport and spare parts – up by 11.46 per cent to $32.4 million.

In the first 7 months of this year, Vietnam’s exports of coal to Laos decreased by 67.52 per cent in quantity and 50.32 per cent in value to 16,300 tons worth of $2.1 million.