Source: Vientiane Times
Laos reported a record US$729 million in imports and exports in October this year, with the value of exports put at US$347 million and the value of import calculated at US$382 million.
These figures were revealed by the Lao Trade Portal on November 20, which also stated that the trade deficit was US$34 million.
The main export products included copper ore, bananas, wood pulp and paper scraps, frames and camera parts, mixed gold and gold bars, clothes, electrical devices and equipment, sugar, rubber, and sweetcorn.
The main import products included vehicles, electrical devices and equipment, diesel, mechanical equipment, steel, steel products, magnetic steel, auto parts, gasoline, rebars and various types of steel, plastic products, and waste food industries.
The export value of US$347 million included US$30 million worth of copper ore, US$23 million of bananas and US$25 million of wood pulp and paper scraps.
In addition, the value of frames and camera parts was US$19 million, about US$54 million was earned from mixed gold and gold bars, while the export of clothes earned US$16 million.
Meanwhile, the export value of electrical devices and equipment was US$9 million, the export of sugar earned US$5 million, rubber exports earned US$34 million, and sweetcorn sold for US$8 million.
Laos’ main exporting countries are China (US$128 million), Vietnam (US$63 million), Thailand (US$79 million), India (US$12 million) and Germany (US$7 million).
Of the total US$382 million spent on imported goods, US$30 million was paid for vehicles, US$20 million for electrical devices and equipment, and US$23 million was spent on diesel.
Mechanical equipment cost US$24 million, while US$16 million was spent on steel, steel products and magnetic steel.
US$13 million was spent on auto parts, US$7 million was used to buy gasoline, and US$10 million was spent on rebars and steel products.
At the same time, about US$12 million was spent on plastic products and US$8 million on waste food industries.
In October alone, Laos imported goods worth US$209 million from Thailand. Imports from China were recorded at US$92 million, while imports from Vietnam amounted to US$45 million. The value of imports from Japan was US$8 million, while goods bought from the United States valued US$4 million.
There was a slight decrease in the total value of trade, which stood at US$762 million in August. Of this, the value of exported goods was US$377 million while imports valued US$384 million, resulting in a trade deficit of US$7 million, according to a previous report by the Lao Trade Portal on September 17.