Laos Records Lowest Year-on-Year Trade Deficit of USD 13 Million in January

Freight containers on the Laos-China Railway.

The country reported a trade deficit of USD 13 million in January, the lowest figure recorded since last year.

The trade deficit in Laos soared to USD 233 million in September 2022 but has been decreasing steadily since then.

The overall value of trade in Laos was USD 935 billion in January this year, with USD 461  million in exports and USD 474 million in imports, according to the information from the  Lao Trade Portal.

Major exports for January included cassava, gold, gold bars, gold ore, potassium chloride, paper and paper products, bananas, clothes, wood pulp, paper waste, sugar, and iron ore.

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

The top five countries that imported products from Laos in January included China at USD 156 million, Thailand at USD 128 million, Vietnam at 65 million, Australia at USD 41 million, and Switzerland at USD 14 million.

Laos made the most imports from Thailand at USD 255 million, China at USD 121 million,  Vietnam at USD 21 million, the United States at USD 14 million, and Australia at USD 12 million.