Vietnam got trade surplus of $US 156.1 million when exporting to Laos in 2017

Chart of export and import developments and trade balance of goods between Vietnam and Laos in the period from 2012-2017.

Specifically, according to the statistics of the General Department of Vietnam Customs, the trade balance of goods in 2017 with Laos has a surplus of $US 156.1 million on the side of Vietnam.

In terms of exports, in 2017, the total export turnover of goods reached $US 524.5 million, increased by 9.7% over the same period last year. Laos currently accounts for a small share of the country's total export turnover of $US 524.5 million compared to $US 214 billion in exports.

Furthermore, the goods items were exported from Vietnam to Laos in 2017 mainly include: petroleum of all kinds that reached 158.7 thousand tons, worth $US 88.6 million, increased 1.4 times in value compared with the same period last year; The second largest item are iron and steel products which reached 108.9 thousand tons, valued at $US 74.4 million, decreased slightly by 2.1% in terms of value; Means of transport and components reached $US 52.7 million, increased by 3.3%.

In terms of import, the imported goods of Laos origin in 2017 reached $US 368.4 million, increasing by 6.8% over the same period last year. Imports of goods originating from Laos account for only a very small proportion of the total import turnover of the country, only reaching $US 368.4 million compared with $US 211.1 billion for the whole country.

The goods originating from Laos and imported into Vietnam in 2017 were mainly fertilizers of all kinds, amounting to 217.6 thousand tons and valued at $US 46.7 million, an increase of 19.7% over the same period last year; ores and other minerals reached 492 thousand tons with a value of $US 27.8 million, decreased by 15.7%; wood reached $US 42 million, reduced by 46.8% over the same period.