Laos Reports a Trade Deficit of USD 45 Million in November

0
2
Rail freight transport. (Photo Credit: Laos-China Railway)

According to the Lao Trade Portal, the November trade deficit figure of USD 45 million is quite low compared to September and October figures of USD 233 million and USD 230 million respectively.

The overall value of Laos trade was USD 1.08 billion in November this year, with USD 519 million in exports and USD 564 million in imports.

The major exports for November included gold and gold bars, wood pulp and waste paper, asphalt, potassium chloride, gold ore, clothes, sugar, shoes, and bananas.

Meanwhile, main imports included diesel, mechanical equipment, land vehicles, gems,  wood pulp, and waste paper, steel and steel products, gasoline, plastic products, electrical appliances, electrical equipment, and vehicle spare parts.

The top five countries which imported products from Laos in November included China at USD 218 million, followed by Vietnam at USD 107 million, Thailand at USD 62 million, Australia at USD 40 million, and Hong Kong at USD 16 million.

Laos made the most imports from Thailand at USD 277 million, China at USD 145 million, Switzerland at USD 30 million, Vietnam at USD 24 million, and the United States at USD 22 million.

In November, Laos set a new record for inflation at 38.46 percent, up from 36.75 percent reported in October.