MOIT VIETNAM | The Vietnam-Lao Trade Rankings Have Vietnam Firmly In Third Place.
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The Vietnam-Lao Trade Rankings Have Vietnam Firmly In Third Place.
With a total of about 65 million USD in exports and around 21 million USD in imports, Vietnam has surpassed all but two countries as Laos's third-largest trading partner. The importance of this trade relationship highlights the strategic economic position of Vietnam in the region.
Not including the value of power imports and exports, Laos recorded a total trade turnover of around 935 million USD in the first month of 2023. The estimated trade deficit for Laos was thirteen million USD, made up of exports valued at about 461 million USD and imports at about 474 million USD.
With a value of approximately 156 million USD, China is Laos's top export market. Thailand comes in second, with 128 million USD. With exports worth approximately 65 million USD, Vietnam is the third-largest export market, demonstrating its significance to the Laotian economy.
These nations are also heavily represented on the Laotian list of top importers. At approximately 255 million USD, Thailand's imports are the highest, followed by China at 121 million USD, and Vietnam at 21 million USD, maintaining its position as the third-highest.
The trade statistics show that Vietnam and Laos have strong economic ties. There is strong camaraderie and friendship between the people of the two countries, and they are working hard to put comprehensive cooperation agreements into action so that their economies can grow together.
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