VIENTIANE, Jan. 11 (Xinhua) -- The export of finished wood products increased by 107 percent in 2018 after the government banned the export of unfinished timber and promoted value-added goods, local daily Vientiane Times reported on Friday.
Lao Prime Minister Thongloun Sisoulith issued Executive Order No. 15 in 2016, imposing the ban and promoting the production of finished wood products for export.
The order also demanded action to regulate timber businesses, furniture plants and sawmills along with efforts to inspect the supply chain to address illegal logging.
Exports of finished wood products in terms of both volume and value increased significantly in 2018 compared to 2017, according to the latest report from the Lao Ministry of Industry and Commerce.
The value of exports exceeded 40.335 million U.S. dollars, an increase of 107 percent against 2017. Some 64,109 cubic metres of finished wood products were exported in 2018, an increase of 44.38 percent compared to 2017.
The volume of exports increased by 44.38 percent while the price more than doubled, meaning a great deal of value had been added to locally-made products, Lao officials said.