Laos Sees a Trade Deficit of USD 23 Million in December

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Laos Reports USD 23 Million of Trade Deficit in December
Illustrative image (Photo: https://doanhnghiepkinhtexanh.vn/)

According to the Lao Trade Portal, the country recorded a trade deficit of USD 23 million in December, which is considerably lower than the trade deficits of USD 45 million and USD 230 million reported in November and October, respectively.

The overall value of trade hit USD 1,088 in December last year, including USD 532 million in exports and USD 556 million in imports.

The major exported products for the month include gold ore, iron ore, paper products, potassium chloride, sugar, clothes, asphalt, cassava, and bananas.

Beverages, diesel, gasoline, steel, steel-made items, land vehicles, vehicle spare parts, wood pulp and paper, plastic utensils, electrical appliances, and electrical equipment, on the other hand, were the main products that were imported for domestic use.

Laos exported the most products to China worth USD 195 million, followed by Vietnam at USD 116 million, Thailand at USD 103 million, Australia at USD 49 million, and the United States at USD 9 million.

The country imported the most items from Thailand worth USD 321 million, followed by China at USD 134 million, Vietnam with USD 48 million, and Japan at USD 7 million.