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Wednesday, July 24, 2024

Laos Sees a Trade Deficit of USD 230 Million in October

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Laos recorded a trade deficit of USD 230 million in October, according to the latest information from the Lao Trade Portal.

The trade deficit has decreased by 3 million since September. The overall value of trade was USD 1.07 billion in October this year, with USD 442 million in exports and USD 652 million in imports.

The country’s primary exports included gold bullion valued at USD 45 million, paper products valued at USD 41 million, rubber valued at USD 35 million, gold ore valued at USD 30 million, potassium chloride valued at USD 21 million, clothes valued at USD 17 million, iron ore valued at USD 14 million, bananas worth USD 14 million, and shoes worth USD 13 million.

Main imports consisted of Diesel worth USD 104 million, iron ore valued at USD 75 million, mechanical equipment worth USD 43 million, land vehicles worth USD 34 million, wood pulp and waste paper worth USD 29 million, steel and steel products worth USD 25 million, beverages worth USD 25 million, gasoline valued at USD 25 million, electrical appliances and electrical equipment worth USD 22 million and spare parts worth 19 million.

Laos made the most imports from Thailand at USD 308 million, China at USD 150 million, Switzerland at USD 75 million, followed by Vietnam at USD 32 million, and products imported from the US were worth USD 21 million.

The biggest export partners for Laos were China at USD 177 million, Vietnam at USD 97 million, Thailand at USD 45 million, Australia at USD 22 million and India at USD 14 million.

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