Laos Sees Trade Deficit of USD 166 Million in August

Laos trade (Photo: Lao Economic Daily)

Laos reported a trade deficit of USD 166 million in August as it imported substantially more goods than it exported from the country. There has been an increase in the trade deficit by USD 52 since July.

According to the latest information from the Lao Trade Portal website, the overall value of Laos trade was USD 1.02 billion in August this year, with USD 427 million in exports and 593 million dollars in imports.

The major export sources included iron ore, copper ore, paper, paper-made products, gold ore, wood pulp, and waste, asphalt, fertilizer, paper, sugar, beverages, clothing, and shoes.

Meanwhile, major imports comprised Diesel and mechanical equipment, land vehicles, wood pulp, and waste paper, beverages, plastic products, living animals, minerals, steel and steel products, and magnetic steel.

Laos’ biggest export destinations were China, Vietnam, Thailand, Australia, and Hong Kong while the top nations it imported from were Thailand, China, Vietnam, The United States, and Switzerland.