Laos Records Trade Surplus of USD 1.39 Billion in 2022

• May 15, 2023

Laos recorded a trade surplus of USD 1.39 billion in 2022, boosted by the country’s electricity exports, according to the Ministry of Industry and Commerce.

The country’s total trade surplus amounted to approximately USD 15 billion, with exports worth USD 8.198 billion and imports worth USD 6.808 billion.

Laos’ main exports in 2022 included electricity, gold, gold ore and gold bars, paper, paper waste, and wood pulp. Meanwhile, the country’s top imports were diesel, mechanic equipment, land vehicles, gasoline, steel, and steel products.

Electricity exports made up the largest share of total exports, with a value of USD 2.358 billion. Diesel was the most imported product, accounting for USD 935 million.

Thailand was the top destination for Laos’ exports, with a value of USD 2,940 million. China and Vietnam followed closely, with export values of USD 2.238 billion and USD 1.355 billion respectively.

As for imports, Thailand remained the country’s largest source with a total value of USD 3.377 billion, followed by China at USD 1.646 billion, and Vietnam at USD 423 million.

Unlike the other monthly trade deficit and surplus reports, this report includes the electricity exported by Laos.

Laos’ electricity exports have been a significant contributor to the country’s trade surplus, reflecting the growing demand for renewable energy sources in the region.

Source: https://laotiantimes.com/2023/05/15/laos-records-trade-surplus-of-usd-1-39-billion-in-2022/