Laos Records Trade Deficit of USD 48 Million in February
The Lao trade portal reported the country’s trade deficit at USD 48 million in February, USD 35 million higher than January’s figures.
Laos’ overall trade deficit was approximately USD 962 million, with USD 505 million in exports and USD 457 million in imports, according to the report.
February’s top exports include cassava, gold, gold ore and gold bar, potassium chloride, wood pulp, and paper waste. Major imports, on the other hand, were diesel, mechanic equipment, land vehicles, gasoline, steel, and steel products.
Cassava was the most exported item, leading to trade worth USD 85 million, followed by gold ore and gold bar at USD 46 million, and gold at USD 35 million.
Laos spent the most on imported fuel at USD 83 million, followed by USD 31 million on mechanic equipment and USD 27 million on land vehicles.
The top five countries that exported products from Laos in February were China at USD 173 million, Thailand at USD 116 million, Vietnam at 106 million, Australia at USD 23 million, and Hong Kong at USD 14 million.
Laos made the most imports from Thailand at USD 257 million, China at USD 115 million, Vietnam at USD 22 million, the United States at USD 14 million, and Japan at USD 8 million.