Laos Sees Trade Deficit of USD 133 Million in June

0
2405

Laos posted a trade deficit of 133 million US dollars in June as the balance of imports and exports trended downward.

According to the most recent data from the Lao Trade Portal website, the overall value of trade in June was 1 billion US dollars, with 456 million US dollars in exports and 589 million US dollars in imports.

The major exports for June included gold, gold bars, paper and paper products, copper ore, wood pulp, waste paper, rubber, cassava, iron ore, bananas, clothing, and fertilizer.

Meanwhile, major imports included vehicles (other than motorcycles and tractors), diesel and mechanical equipment (other than motor vehicles), wood pulp and waste paper, auto parts (including windshields and chains), steel and steel products, magnetic steel, plastic products, gasoline, paper and paper products, and wood and wooden utensils.

Laos’ biggest export destination was China, followed by Vietnam and Thailand, while the top source nations for imports were Thailand, China, and Vietnam.

According to the latest statistics from the Lao Statistics Bureau, inflation in Laos increased to 23.6 percent in June.

Authorities say the rising price of petrol, cooking gas, and other imported items, together with the depreciation of the Lao kip, are fueling runaway inflation.