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Laos faces trade deficit of 70 mln USD in January

Xinhua News,VIENTIANE
2020-03-18 12:23

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Laos faced a trade deficit of 70 million U.S. dollars in the first month of 2020, and importers and exporters are struggling.

Total trade in January was worth 890 million U.S. dollars, with exports valued at 410 million U.S. dollars and imports at 480 million U.S. dollars, according to Lao Ministry of Industry and Commerce.

The export products included cassava, gold ore, copper and copper products, cattle and buffaloes, pulpwood and paper, clothing, car and camera parts, fruits (watermelons, tamarind and mangoes) and beverages (water, juices and energy drinks), local daily Vientiane Times reported on Wednesday.

The five main countries which Laos exported its goods were Thailand (135 million U.S. dollars), China (115 million U.S. dollars), Vietnam (83 million U.S. dollars), Switzerland (17 million U.S. dollars) and Japan (8 million U.S. dollars), said the report.

The imports included electrical appliances and accessories, diesel, mechanical equipment (except motor vehicles), land vehicles (other than motorcycles and tractors), livestock, steel and steel products, beverages (water, steam and energy drinks), photographic equipment, cables and plastic products.

The five main countries for imports were Thailand (268 million U.S. dollars), China (113 million U.S. dollars), Vietnam (50 million U.S. dollars), the United States (11 million U.S. dollars) and Japan (8 million U.S. dollars).

The statistics for January do not include the export of electricity and the figures will be updated when it is available, according to the report.
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