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Sunday, July 14, 2024

Laos Records Trade of Over USD 1 Billion in May

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The country saw two-way trade of USD 1.086 billion in May, with gold bullion and gold bars being the most exported items, according to the Lao Trade Portal (LTP).

The nation’s exports were valued at approximately USD 520 million, while its imports were estimated at USD 567 million, resulting in a trade deficit of USD 47 million, compared to April’s trade deficit figure of USD 17 million.

The most exported products from Laos were gold bullion, gold bars, potassium salt, paper and paper products, and iron ore, while the most imported products were diesel fuel,  vehicles, mechanical equipment, steel, and beverages.

Laos earned USD 70 million from the export of gold and bullion, USD 46 million from potassium salt exports, USD 43 million from paper and paper products, USD 39 million from iron ore, USD 38 million from gold ore, USD 26 million from pulp and paper scrap, USD 21 million from beverages, USD 20 million from clothing, USD 18 million from sugar, and USD 16 million from bananas.

Exports worth USD 203 million were made to China, followed by Vietnam at USD 108 million, Thailand at USD 59 million, Australia at USD 30 million, and India at USD 17 million.

At USD 285 million, Laos imported the most products from Thailand, followed by China at USD 164 million, Vietnam at USD 31 million, the US at USD 17 million, and Japan at USD 13 million.

The report provided by LTP excluded electricity imports and exports for May 2023.

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