VIENTIANE, May 21 (Xinhua) -- Laos had a trade deficit of 143 million U.S. dollars, much less than that of the same period last year, according to Lao Ministry of Industry and Commerce.
The value of Laos' combined exports and imports in the first quarter of 2019 decreased by 1.53 percent compared with the same period last year, with 2,317 million U.S. dollars including imports worth 1,229 million U.S. dollars and exports worth 1,086 million U.S. dollars.
The total value of trade in the first quarter of last year was 2,353 million U.S. dollars, of which the value of exports was 989 million U.S. dollars, while imports reached 1,363 million U.S. dollars. This led to a trade deficit of 374 million U.S. dollars.
The figures show the decline of trade deficit for the first quarter was due to the influx of imported materials for infrastructure and hydropower projects, as well as for domestic production, local daily Vientiane Times reported Tuesday.
The country's main exports are copper ore, copper and copper products, wood pulp and other fibrous cellulosic material, cassava, beverages, amalgam gold and gold bars, clothing, bananas, electrical machinery and equipment, fruit and nuts.
The main countries for exports are China, Thailand, Vietnam, India, Japan, Germany, the United States, Sweden and Switzerland.
The main imports are fuel, vehicles other than tractors and motorcycles, iron, iron and steel products, mechanical appliances, insulated wire, cable, electrical machinery and equipment, plastics, bars and steel rods and formed structural steel sections, vehicle spare parts, and communication equipment.
The main countries supplying these goods are Thailand, China, Vietnam, Japan, South Korea, Indonesia, Germany, India and the United States.
The Lao government will strive to achieve imports and exports worth 11.292 billion U.S. dollars this year, including exports worth 5.516 billion U.S. dollars and imports worth 5.775 billion U.S. dollars.
