Laos reported a trade deficit of USD 80 million in December 2021 with imports and exports totaling approximately USD 1.18 billion.
According to information from the Lao Trade Portal, Laos’ exports in December were USD 552 million, while imports totaled USD 632 million, resulting in the highest trade deficit of last year.
Major exports from Laos included copper ore, bananas, gold bars, cassava, clothing, coffee, sugar, rubber, and sweetcorn.
Among the imports were land vehicles, petrol, vehicle spare parts, iron, steel, beverages, plastic utensils, jewelry, chemical products, and food industry waste.
China remained Laos’ biggest export destination, followed by Vietnam and Thailand, India and Japan, according to the report.
Thailand, China, and Vietnam were also the top source countries for imports.
The trade figures in the report did not include earnings from the export of electricity.
Meanwhile, Laos has earned over USD 900 million from the export of agricultural products throughout 2021.
Banana exports brought in USD 225 million, while rubber earned USD 214 million. Cassava, sugarcane, and watermelon brought in USD 196 million, USD 25 million, and USD 26 million, respectively.