Laos experienced a trade deficit of USD 133 million in June, marking the sixth straight month of trade deficits in 2024. According to data released by the Trade Information Center (LTP), the total value of imports and exports reached USD 1.227 billion, a 10 percent increase from May.
Despite the growth in overall trade, imports (USD 680 million) significantly outpaced exports (USD 547 million), resulting in the deficit, resulting in the deficit. However, Laos saw a 13 percent increase in exports compared to the previous month.
In June, the country’s primary exports included curry salt, mixed gold, paper, rubber, gold ore, wood pulp, sugar, cassava flour, bananas, and potatoes. These goods found their way primarily to China (USD 199 million), Vietnam, Thailand, the United States (US), and Switzerland, which were the top export destinations.
Meanwhile, the import value of all goods increased by 7 percent compared to May. The primary imports included diesel oil (USD 88 million), land vehicles (excluding motorcycles and tractors), mechanical equipment, electrical equipment, steel and steel products, finished chemical products, plastic appliances, special gasoline, car spare parts, and aluminum products. The main sources of these imports were China, Thailand, Vietnam, the US, and Japan.
