Laos Records US$762 Million Trade Value For August
Source: Vientiane Times
Laos recorded a total trade value of US$762 million for imports and exports in August 2020, comprising US$377 million worth of exports while about US$384 million was expended on imported goods, according to the Lao Trade Portal website.
The figures were posted on September 17, revealing a trade deficit of about US$7 million.
Exports included copper ore, copper and copper products, bananas, wood pulp and paper scraps, frames and camera parts, mixed gold and gold bars, clothing, electrical items and equipment, coffee and rubber.
The main imported items were vehicles (excluding motorcycles and tractors), electrical devices and equipment, diesel, mechanical equipment (other than motor vehicles), iron, steel products, magnetic steel, auto parts, plastic products, gasoline, fertiliser, and industrial food waste.
Of the total export value of US$377 million, copper ore contributed US$30 million, copper and copper products comprised US$15 million, and banana exports generated US$16 million.
Additionally, wood pulp and paper scraps earned US$28 million, while US$21 million was earned from the export of frames and camera parts, US$97 million from mixed gold and gold bars, US$18 million from clothing, US$9 million from electrical devices and equipment, US$5 million from coffee, and US$24 million from rubber.
The total import value of US$384 million comprised US$24 million worth of vehicles, electrical devices and equipment costing US$21 million, and diesel worth about US$25 million, while US$43 million was spent on the purchase of mechanical equipment.
Imports of iron, steel products, and magnetic steel totalled US$22 million, while US$9 million was spent on auto parts including tyres, glass and chains. US$13 million was spent on plastic products, US$6 million on gasoline, US$7 million on fertiliser, and US$8 million on industrial food waste.
Laos exports products to five main buyers. China imported goods worth US$102 million, Vietnam bought goods worth US$75 million, Thailand purchased US$120 million of Lao products, India bought goods worth US$14 million, and the value of exports to Germany was US$6 million.
In reverse, Laos imports goods from five main countries. Goods worth US$204 million were imported from Thailand, the value of goods purchased from China was US$84 million, from Vietnam the value was US$44 million, imported items from Japan totalled US$21 million, and goods imported from the United States of America totalled US$10 million in value.
The figures for August do not include the value of exported electricity. A further update on export values will be reported when the data becomes available, the website noted.