Laos Records USD 1 Billion Trade Surplus in 2021

Laos sees trade surplus in 2021

Laos recorded a trade surplus of USD 1 billion in 2021, with the country’s overall imports and exports, excluding power exports, totaling USD 13 billion.

Xinhua reports that throughout 2021, exports were valued at about USD 7 billion, while imports were valued at USD 6 billion, citing information from the Lao Trade Portal.

Major exports included gold ore and gold bars, paper and paper products, wood pulp and waste paper, rubber, cassava, iron ore, bananas, garments, electrical appliances and equipment, fertilizers, camera parts, and footwear.

Imports, on the other hand, included vehicles, diesel fuel, mechanical equipment excluding motor vehicles, and precious or semi-precious stones, spare parts (including plastic, mirrors, and chains), steel and steel products and magnetics, pharmaceuticals, plastic products, electrical appliances, gasoline, scrap and waste from food, camera equipment, and wood and wood products.

China topped the list of five main countries for exports with a figure of USD 2.2 billion, followed by Thailand (USD  2.1 billion), Vietnam (USD  1.2 billion), Australia (USD  348 million), and Switzerland (USD  116 million).

Meanwhile, the five main importing countries were Thailand at USD 3 billion, China at USD  1.2 billion, Vietnam with USD 499 million, the United States with USD 250 million, and Japan with USD 148 million.

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