Highlights of bilateral merchandise trade between Vietnam and Laos during the period of 2008-2012 and updates for first 9 months of 2013
Vietnam Customs Statistics 7/10/2013 3:00 PM
According to the Vietnam Customs’ Trade Statistics, in the period of 2008-2012, the total merchandise trade between Vietnam-Lao increased at a stable and high rate (20% per year).
Vietnam Customs Statistics showed that Vietnam always retained the big trade deficit in bilateral merchandise trade with Laos for the period of 2008-2012. Notably, the sharp increase in imports from Laos (up by 57.7% as compared to 2010) led to the climbing up in trade gap of USD 185.9 million in 2011 which was 2 times higher than one year ago. Moreover, Vietnam’s trade deficit moved down by 87.5% to USD 23.3 million in 2012 due to the slight decrease in imports and boots up in exports to Laos.
Bilateral merchandise trade between Vietnam and Laos still did not satisfy their potential. Being showed by Vietnam Customs Statistics, the total export and import value of Vietnam with Laos in recent years accounted for only a tiny proportion in that of Vietnam with all the trading partners (about 0.3%). That proportion in total merchandise trade value of Laos was only 16%, trade statistics of WTO said.
Export: In 2012, Laos was ranked at 33rd place among about 200 exporting markets of Vietnam in the world with the export value of USD 421.1 million, 53.7% higher than 2011. Amongst ASEAN members, Laos takes the 7th place, only followed by Malaysia and Brunei.
Vietnam’s main exported commodities to Laos in 2012 included: iron and steel which reached USD 67.2 million and accounted for 24% imports of Laos from Vietnam; machine, equipment, tools and instrument; corns…
In first 9 months of 2013, total export value from Vietnam to Laos was USD 329 million, up by 12.3% as compared to the same period of 2011, showed by Vietnam Customs Statistics.
Import: Laos was ranked at 28th place in exporters to Vietnam in 2012 with the total imports of USD 444.6 million. In ASEAN, Laos took the 8th place and accounted for 2.14% of total value of imported commodities from ASEAN to Vietnam.
The latest statistics of Vietnam Customs showed that, in the first 9 months of 2013, Vietnam’s total imports from Laos reached USD 394.6 million, up by 10.3% in comparison to the same period of 2012. Wood and wooden products and ores, other minerals product were two main groups of commodity that imported from Laos in recent years. In the first 9 months of 2013, total import value of these 2 main groups was respectively: USD 246.7 million, down by 2.4% as compared to the same period of 2012 and USD 18.5 million, up by 26%.