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Laos’ Trade Deficit Hits 17Million USD in April

Source: Vientiane Times

Laos registered a trade deficit of US$17 million in April, according to official statistics released on Tuesday.

Imports and exports during the fourth month of the year totalled US$ 947 million. Exports hit US$465 million, while imports touched approximately US$482 million, according to figures from the Lao Trade Portal of the Ministry of Industry and Commerce.

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The top three products by value that Laos exported were mixed gold and bullion amounting to US$ 87 million, salts at US$ 48 million, and paper and paper products at US$42 million.

They were followed by gold ore that earned US$ 31 million, iron ore US$ 25 million, pulp and paper scrap US$ 23 million, cassava US$ 21 million, bananas US$ 20 million, and beverages US$ 16 million.

Laos’ exports to China were worth US$ 196 million, followed by Vietnam (US$ 82 million), Thailand (US$ 60 million), Australia (US$ 35 million), and Singapore (US$ 26 million).

The top three imports by value for Laos were diesel (US$ 71 million), land vehicles (US$ 41 million), and mechanical equipment (US$ 38 million).

Gasoline, steel and steel products, beverages, wood pulp and paper waste, plastic products, electrical appliances, and electrical equipment, and auto parts were the other major imports. Thailand, China, Vietnam, the USA, and Japan were the top five countries from which Laos imported goods in April, according to the statistics.

These figures do not include the export of electric power – a key source of income for Laos. Officials said the value of exports will be updated at a later date once the relevant data is available.