Laos posts US$5.41 billion in export earnings in 2018

VNA
Laos recorded total export revenue of US$5.41 billion in 2018, according to statistics of the country’s ministry of industry and trade. 

Laos' Xayaburi hydroelectric plant (Source: investvine.com)

Laos' Xayaburi hydroelectric plant (Source: investvine.com)

Of the figure, $1.31 billion came from exports under preferential frameworks such as the Generalised Scheme of Preferences (GSP) and Free Trade Agreements (FTAs).

The country enjoys preferential treatment when exporting to 37 countries and importing from 39 countries.

The biggest export market of Laos was Thailand with $425.86 million, followed by Vietnam with $332.85 million and China with $250.95 million. 

Industrial goods were the biggest foreign currency earner, bringing in $637.36 million, and agricultural products came next with $406.94 million, and minerals with $89.5 million. 

Also last year, Laos imported $5.84 billion worth of goods, including $613.83 million worth of goods under preferential frameworks. 

Thailand was also the top import source of Laos with $329.04 million worth of goods shipped to Laos last year. It was followed by China with $79.58 million and Vietnam with $76.39 million. 

Laos spent $369.16 million on machinery and parts, $85.41 million on construction materials and $64.14 million on garment and home utensils.

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