Laos Records USD 54 Million Trade Deficit in May

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Laos records trade deficit in May
Laos records trade deficit in May (Photo: Greater Mekong Subregion Secretariat)

According to the newest information from the Lao Trade Portal website, Laos posted a trade deficit of USD 54 million in May of this year.
According to the report, Laos’ exports in May reached USD 425 million while imports were USD 479 million.

Laos’ main export goods include copper ore, bananas, mixed gold (gold bars), cassava, garments and textiles, raw coffee, sugar, rubber, fruit (watermelons, passion fruit and tamarind), and sawn timber.

The major goods imported by Laos include automobiles (other than motorcycles and tractors), electrical devices and equipment, diesel, mechanical equipment, steel and steel products, magnetic steel, beverages (water, soda, energy drinks), auto parts (including glass and chains), plastic products, fertilizer, and food factory waste.

Laos recorded a trade deficit of USD 64 million in April, with Thailand, China, and Vietnam remaining the top source countries for imports.