Cross-border trade via Lao Cai border gate up 49% last year

Cross-border trade via the Lao Cai international border gate in northern Lao Cai province, which borders China, reached over $1 billion in 2023, a year-on-year increase of 49 per cent, the Hai quan (Customs) online newspaper has reported.

Of the total, export revenue was estimated at nearly $549 million, up 181 per cent compared to 2022.

Major products exported to China include dragon fruit, bananas, wooden products, lychees, and durians.

Meanwhile, import value stood at $506.34 million, down 1 per cent year-on-year.

As of January 26, total trade via the border gate reached $63.8 million, up 35 per cent year-on-year. Exports contributed $28.74 million, for year-on-year growth of 25 per cent.