Laos recorded a trade deficit of USD 129 million in August, marking the eighth straight month of trade deficits in 2024, according to data released by the Lao Trade Portal (LTP).
The total value of imports and exports for August reached USD 1.2 billion, with exports accounting for USD 541 million and imports totaling USD 670 million. These figures exclude the value of electricity imports and exports.
Key export goods included electrical appliances, gold, rubber, paper, gold ore, pulp, sugar, potassium salt, cassava flour, and cassava. On the other hand, major imported goods included diesel fuel, mechanical equipment, land vehicles, finished chemical products, electrical appliances, steel, plastic goods, auto parts, gasoline, and beverages.
Laos’ main export destinations were Vietnam, China, Thailand, the United States, and Switzerland. Meanwhile, key import partners included Thailand, China, Vietnam, the United States, and Japan.
In comparison, Laos recorded a trade deficit of USD 154 million in July, continuing a concerning trend of negative trade balances throughout 2024.
