Laos’ Trade Deficit Exceeds US$45 Million In October
Source: Vientiane Times
Laos registered a record monthly trade deficit of US$45 million in October, when total two-way trade was worth US$819 million, according to the Lao trade portal website.
The total trade included exports worth US$387 million and imports worth US$432 million. The figures were updated on November 18.
The trade deficit for October marked a big increase when compared to the figures for the previous months of this year, especially August, when the amount was only US$24 million.
Laos’ main exports include copper ore, bananas, mixed gold (gold bars), cassava, clothes, raw coffee, sugar, rubber, maize, tobacco and processed wood.
The main imports are vehicles (other than motorcycles and tractors), electrical devices and equipment, mechanical equipment (other than motor vehicles), premium grade fuel, regular fuel, diesel, auto parts (including tyres, glass and chains) and plastic products.
For October’s figures, China was the leading trade partner with Laos’ exports worth US$149 million, while Vietnam was second with exports worth US$96 million. Exports to Thailand were worth US$35 million, while exports to India were worth US$24 million and Germany US$4 million.
Thailand was in the lead for importing countries with a figure of US$188 million, while imports from China were recorded at US$84 million. Imports from Vietnam were worth US$25 million, while the figures for Japan and the United States were US$18 million each.