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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.

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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.