Laos Sees Rise In Trade Value, But Deficit Persists

Source: Vientiane Times

The total value of goods imported and exported by Laos in December rose to over US$1.1 billion, which was higher than the figures recorded in every month of 2021 except for March.

However, the country still faced a trade deficit of US$80 million last month, according to the Ministry of Industry and Commerce.

The value of goods exported in December reached US$665 million while goods worth US$603 million were imported, resulting in a trade surplus of US$62 million.

The value of trade in December was high because this was the harvesting season when business operators amassed large amounts of crops for export.

At the same time, imports were also high because many businesses imported the materials they needed for work during the dry season.    

Among exports, US$19 million worth of copper ore was sold, in addition to US$9 million worth of copper and copper products and US$102 million worth of mixed gold.

Banana exports totalled US$15 million, cassava US$60 million, clothing US$17 million, coffee US$6 million, sugar US$12 million, maize US$46 million, and rice US$7 million.

Among the good imported were US$46 million worth of vehicles, US$48 million worth of diesel and US$27 million worth of mechanical equipment.

Steel imports totalled US$12 million in value, water, soda and energy drink imports totalled US$26 million, auto parts US$18 million, gasoline US$14 million, plastic products US$14 million, precious and semi-precious stones US$23 million, chemicals US$7 million, and food industry waste US$10 million.

Laos shipped goods worth US$210 million to China, US$122 million to Vietnam, US$101 million to Thailand, US$12 million to India, and US$8 million to Japan.

In terms of imports, Laos imported goods worth US$ 325 million from Thailand, US$111 million from China, US$52 million from Vietnam, US$16 million from Japan, and US$10 million from USA.

The figures for December do not include earnings from the export of electricity.