Vietnam and Laos continued growth in imports and exports in Q1 2021

[ASEAN NOW News]

 

Vietnam and Laos continued to see a growth in import-export revenue in the first half of 2021 compared to the same period last year.

 

Vietnamese garment factory

 

According to the Vietnamese Trade Office in Laos, in the first half of 2021, two-way trade hit over US$671 million, up 36.5 per cent year on year, including Việt Nam’s exports of over $329 million, and imports of more than $341 million, respective rises of 19.1 per cent and 58.9 per cent.

 

Compared to the first half of 2019 before the COVID-19 outbreak, two-way trade increased 16.6 per cent, with Việt Nam's import revenue rising 49 per cent and exports falling 5 per cent.

 

In June 2021, two-way trade reached over $100 million, up 22.1 per cent from the same period last year and 18.1 per cent from June 2019.

 

Garments and wooden products

 

 

 

Vietnam’s key export staples included garment and textile products, vehicles and spare parts, machinery and equipment, and petrol and gasoline.

 

 

Meanwhile, Vietnam mainly imported wood and wooden products from Laos, along with ore and minerals, and rubber.

 

In July, two-way trade is predicted not to rise due to complicated developments of the COVID-19 pandemic.