Laos' exports rise but nation still faces deficit

Source: Xinhua| 2020-06-12 19:05:49|Editor: huaxia

VIENTIANE, June 12 (Xinhua) -- The value of Laos' exports in May was higher than thar for April but the country continues to face a trade deficit.

Laos' exports during April were worth 209 million U.S. dollars because of the impact of the global COVID-19 pandemic, but increased to around 264 million U.S. dollars in May, local daily Vientiane Times reported on Friday.

The main exports included copper ore, pulpwood and waste paper, copper and copper products, bananas, beverages such as water, condensed drinks, energy drinks, clothing, electrical equipment and appliances, fruit including watermelons, tamarind and mangoes, along with gold bars and camera parts.

The value of imports in May was 447 million U.S. dollars and the country had a trade deficit of 183 million U.S. dollars, according to Lao Ministry of Industry and Commerce.

The main imports included mechanical equipment (excluding motor vehicles), steel and steel products, diesel, land vehicles excluding motorcycles, tractors, beverages such as water, condensed drinks, energy drinks, electrical equipment and appliances, plastic products, wire and various forms of steel, vehicle spare parts including mirrors and chains as well as fertilizers.

China remained the top export destination for Laos, followed by Vietnam and Thailand, while the main countries for imports remained Thailand, China and Vietnam.

These figures don't include earnings from the export of electricity and will be updated when available.

Lao authorities believe the value of exports in June will increase further as the government eases COVID-19-related restrictions since no more new infections are being reported.

Some businesses in the services sector, including hotels, restaurants, barber shops and beauty salons, have begun regular services, though certain prevention and control measures are still in place. Enditem