Bilateral trade Vietnam-Laos by the end of March 2017

Bilateral trade Vietnam-Laos by the end of March 2017

According to preliminary statistics of the General Department of Customs, from the beginning of the year to the end of March 2017, exports and imports between Vietnam and Laos reached US $ 236 million, increase of 4.3% over the same period last year. Customs statistics show that the trade balance (TB) of goods in the first three months of the year surplus of $ 34 million toward Vietnam.

In the period from 2012 to 2016, the total export turnover between Vietnam and Laos has remarkable points such as in 2013 increased 26.1% compared to 2012, rose to 17.9% in 2014. However, between 2015 and 2016, imports and exports between the two countries will significantly decrease from the turnover of nearly $ 1.29 billion reached in 2014, which has been reduced to $ 823 million in 2016. The balance of trade between Vietnam – Laos in this period is also mainly inclined to Laos, in 2016 alone Vietnam reached a surplus of 133 million.

Chart 1: Vietnam – Laos import and export in the period from 2012-2016

 

Export: In the first three months of the year, the export turnover from Vietnam to Laos reached $ 135 million, up 22.6% over the same period last year.

Goods exported from Vietnam to Laos in 3 months of 2017 mainly include: petroleum of all kinds reached 49 thousand tons, valued at $ 27 million, up to 1.14 times in value compared with the same period last year. Second place was the iron and steel items reached 27 thousand tons, worth $ 17 million, down 16.8% in value. Transportation equipment and spare parts worth $ 13 million, up 2.2%;

Table 1: Value of 10 export categories to Laos with the largest turnover in the period 2012-2016 (according to General Department of Customs)

Import: Imports originating from Laos in 3 months from the beginning of 2017 reached $ 101 million, down 13.1% over the same period last year.

Goods originating from Laos are imported into Vietnam in 3 months / 2017 mainly rubber with nearly 6 thousand tons worth $ 9.5 million, down 25.8% in value over the same period last year; fertilizer with 42 thousand tons worth nearly $9 million, up 2.1% in value; cast and other minerals reached 113 thousand tons worth more than $8 million, down 2.3% in value; Wood reached $ 2.5 million, down 94.2% over the same period;


Table 2: Value of the five largest commodity groups of Laos origin imported into Vietnam in 2012-2016

(according to General Department of Customs)