Laos Records a Trade Deficit of USD 233 Million in September

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Logistics and transportation of Container Cargo ship and Cargo plane with working crane bridge in shipyard at sunrise | thestar.com.

Laos recorded a trade deficit of USD 233 Million in September, according to the latest information from the Lao trade portal.

The trade deficit has increased by USD 67 million since August, as Laos has been heavily relying on imports in significant areas like energy.

During September Laos made imports worth USD 689 million and exported goods valued at USD 456 million. The country’s primary exports included gold and gold bullion, rubber, fertilizer, gold ore, sugar, clothes, bananas, shoes, iron ore, and cattle.

The main imports, on the other hand, were diesel, land vehicles, gemstones, gasoline, plastic products, steel, and iron-steel products, live animals, electrical cables, and spare parts.

The top five countries which imported commodities from Laos in September include China in the first place with USD 176 million, followed by Vietnam at second place with USD 103 million, Thailand in third place with USD 53 million, Australia in fourth place with USD 25 million, and Hong Kong in fifth place with USD 17 million.

Laos made the most imports from Thailand at USD 289 million, China at USD 250 million, Vietnam at USD 27 million, the US at USD 24 million, and Switzerland at USD 23 million.

The country also reported a 22-year high inflation rate of 34% in September which has caused an increase in the prices of food, medicines, fuel, and other essential items.