Laos records trade deficit of US$133 million in June

Laos’ two-way trade in June was worth US$1,000 million, with US$456 million contributed by exports while imports were valued at US$589, leaving a trade deficit of US$133 million.

Laos needs to promote products for domestic consumption and exports.

According to the Lao Trade Portal, the website of the Ministry of Industry and Commerce (MoIC), the main exports included mixed gold, gold bars, paper and paper products, copper ore, rubber, bananas, clothing, footwear, sugar, and glass and glassware.
The key imports were inland vehicles (other than motorcycles and tractors), diesel, mechanical equipment (other than motor vehicles), steel and steel products, magnetic steel, pharmacy products, plastic products, power cables and cables, gasoline  and premium gasoline, food wastes and waste from the food industry, and chemical products.
Mixed gold and gold bars contributed US$62 million to exports, while paper and paper products contributed US$42 million and copper ore contributed US$32 million.
In addition, the export of rubber generated US$21 million and iron ore generated US$23 million, while the export of bananas earned US$16 million  and US$23 million was contributed by the export of clothing.
Footwear exports generated US$17 million, US$18 million came from the export of sugar and US$13 million from the export of glass and glassware.
The imported inland vehicles were worth US$35 million, diesel US$101 million, mechanical equipment US$31 million, and steel, steel products and magnetic steel US$29 million.
The value of imported pharmacy products was US$ 12 million, plastic products US$15 million and power cables and cables US$20 million.
Imports of gasoline and premium grade gasoline were worth US$25 million, while imports of food wastes and waste from the food industry were worth US$13 million and chemical products US$14 million.
China was the main exporting country with a figure of US$154 million, while Vietnam was in second place with a figure of US$106 million and Thailand in third place with US$63 million. Australia was fourth with US$43 million and India fifth with US$13 million.
Thailand took the lead among importing countries with a figure of US$307 million in June, while China was second with US$141 million, Vietnam third with US$31 million, the United States fourth with US$39 million and Japan fifth with US$13 million.

By Times Reporters
(Latest Update July 7, 2022)