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Tuesday, July 16, 2024

Laos Sees Trade Deficit of USD 24 million in August

This Week

Laos recorded a trade deficit of USD 24 million in August, according to information from the Lao Trade Portal.

LTP reports that exports from Laos in August totaled USD 428 million, while imports totaled USD 452 million, making it the lowest trade deficit this year.

Major exports included copper ore, bananas, gold bars, cassava, clothing, coffee, sugars, rubber, tobacco, and fruits (and fruit (watermelons, passionfruit, and tamarind).

Land vehicles, as well as electrical equipment and appliances, steel and steel products, fuel, vehicle spare parts, and fertilizers, chemical equipment, and food factory waste were among the most significant imports.

China remained Laos’ biggest export destination, followed by Vietnam and Thailand, according to the report.

Thailand, China, and Vietnam were also the top source countries for imports.

The trade figure in the report did not include earnings from the export of electricity.

Meanwhile, Laos reported a trade deficit of USD 99 million in July, when exports from Laos totaled USD 374 million, and imports totaled USD 473 million.


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