MOIT VIETNAM | The Export Situation from Vietnam to Laos
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The Export Situation from Vietnam to Laos
According to data recorded by the General Department of Customs, the export turnover of Vietnamese commodities to Laos reached 27.8 million USD by the end of January 2023. This figure represents a decline of 72.3% when compared to December 2022.
Despite a decrease of 30.6% from the previous month and an increase of 24.9% for the whole year, petroleum products accounted for 3 million USD in January 2023, making it the most exported commodity to Laos. Following closely behind are iron and steel products of all types, which accounted for 2.5 million USD in exports in December 2022, a decrease of 30.6% from that month and 64.8% from the previous year. All of these fuels and raw materials are vital to the industrial process and the building of infrastructure.
Vietnam also ships to Laos a wide variety of other products, such as: industrial machinery, tools, and instruments; food (vegetables, fruits, and candies); cereal products; paper and paper goods; fertilizers for farming; ceramics; and so on.
Laos presents an opportunity for Vietnamese firms seeking growth prospects, thanks to the unique affinity between the two countries and their governments' policies of strategic and comprehensive collaboration. In order to make the most of your country's market and overcome any obstacles that may come their way, Vietnamese businesses should study the market thoroughly and assess its potential. This will allow them to take advantage of exporting to Laos and increase the quantity and value of their goods exported.
[Information on the January 2023 shipments of Vietnamese exports to Laos]
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