Vietnam shows a high deficit in trade exchanges with Laos, its close neigbouring country, according to the Vietnam Customs.
Its exports to Laos over the past nine months reached US$329 million, up 12.3% against the same period last year, while imports fetched US$394.6 million, up 10.3%.
Wood and timber products and metals and minerals were two key groups of import items, valued at US$246.7 million and 18.5 million, respectively, and accounting for more than 80% of the total import value.
The Vietnam Customs reported despite the high export growth, the market share of the Vietnamese products in Laos remains low.
In 2012, Laos ranked 33rd among 200 Vietnam’s importers with a combined value of US$421.4 million, a year-on-year increase of 53.7%.
Vietnam mainly exported steel to Laos, earning US$67.2 million last year and making up 24% of the total. Other products attaining high export value included machinery, equipment and tools.
Meanwhile, Laos shipped US$444.6 million worth of commodities to Vietnam, ranking it 28th among foreign traders with Vietnam and 8th among ASEAN exporters.
