Bokeo sees imports, exports surge
Bokeo sees imports, exports surge
Bokeo provincial Industry and Commerce Department has reports that the value of imports and exports from and to China and Thailand will exceed expectations this year.
The department reported on Friday that its original plan targeted a combined import and export value of about 476.58 billion kip (US$61.1 million). However, in the first six months of this year the value has already climbed above 360.34 billion kip (US$46.19 million).
The year's target of US$61.1 million included exports valued at about 233.22 billion kip (US$29.9 million) and imports worth about 237.29 billion kip (US$30.42 million).
The department's report noted that exports had exceeded US$15.77 million so far while imports were valued at about US$30.42 million, which was over and above the targeted figures.
The export value of US$15.77 million accounts for 52.76 percent of the target for the year and is about 7 percent more than was exported in the first six months of last year, the report noted.
Agricultural produce accounted for 64.4 percent of the export value, amounting to US$10.16 million. Exports included 4,845 tonnes of maize, 18,020 tonnes of bananas, 4,375 tonnes of paddy rice, 2,928 tonnes of pumpkins and 2,600 tonnes of Job's tear.
Job's tear were mainly grown in Paktha and Pha-oudom districts.
The export value of industrial goods accounted for about 32 percent of the total, worth US$3.94 million. The main component was 1,826 tonnes of rubber.
The US$30.42 million figure for imports accounted for 97.4 percent of the plan for this year and was 23 times the import value during the same period last year.
The surge in imports was attributed to the large amount of equipment required by development and investment projects.
These projects included construction of the fourth Lao-Thai bridge across the Mekong River, hotels, the Luang Prabang airport expansion, and the Nam Ou dam in Phongsaly province.
The value of goods imported by these projects exceeded US$18.39 million and accounted for 59 percent of the total import value over the first six months of this year.
Other imports included fuel, vehicles, construction equipment and agricultural materials and goods for local supply, as well as raw materials needed for industrial production.
The value of imports needed for local supply was over US$7.3 million, accounting for 23 percent of the total import value in the first six months.
Products transiting Bokeo en route from Thailand to China were valued at over 590 trillion kip (over US$75 million), which was 8.32 percent more than the same period last year. Forty-five percent of these products were food items, while fuel accounted for 44 percent.
vientiane times
