Khammuan expects trade figures to surge
Khammuan expects trade figures to surge
Khammuan provincial Industry and Commerce Department has reported that the export and import values for fiscal ye ar 2013-14 are expected to increase by 11 percent and 7 percent respectively, compared to fiscal year 2012-13.
The department confirmed on Monday that export values are projected to be 747.22 billion kip (US$95.79 million) and imports are expected to be 1.3 trillion kip (US$166.84 million).
For the 2012-13 fiscal year, it reported that the combined value of its imports and exports exceeded 1.9 trillion kip (US$253 million), which represented a 7.38 percent increase on the fiscal year 2011-12.
The 2012-13 export value was 673.17 billion kip (US$86.3 million), which was 261.18 percent of the plan and also a 198.59 percent increase from the last fiscal year.
Khammuan's export value was larger than expected with a significant proportion represented by mineral exports, while there was an increase in the export of timber products and a decrease in the export of unprocessed saw logs.
The export of wooden products (including plywood-veneer and charcoal made of sawdust) covered 13.32 percent of total exports, industrial product (which includes iron ore and galena, a form of limestone comprising calcium carbonate and potash) represented 79.29 percent, while agricultural produce (cassava, rice and rubber) was 7.24 percent, followed by food, household use equipment, handicrafts and accessories.
The total import value was about 1.3 trillion kip (US$166 million), which was only 76.67 percent of the plan, a reduction of 19.35 percent compared to the previous fiscal year.
Imports included US$36.9 million for development projects that were free of tax charges, while imports for production use were US$4.33 million and imports at the border checkpoints totaled around US$66.34 million.
The products imported to Khammuan included electronics, representing 34.58 percent of the total, followed by household equipment at 23.05 percent, fuel at14.87 percent, industrial products at 9.79 percent and other products such as food, stationery, agriculture, construction equipme nt and vehicles and spare parts.
The province has trade cooperation with the three countries of Vietnam, Thailand and China. The report noted that imports from Vietnam topped the list, representing 73.35 percent, especially the imports of electronic goods, household use items, fuel and industrial or construction equipment.
Exports to Vietnam had a value of about 397.93 billion kip (US$51.01 million) for the fiscal year 2012-13 and the main export products were mineral ores, agricultural produce and timber products. In relation to goods coming inwards, provincial imports from Vietnam had a value of about 1 trillion kip (US$128.96 million).
Meanwhile exports to Thailand were worth about 71.12 billion kip (US$9.11 million) and the main products were from the mining and timber industries. Goods imported from Thailand were valued at about 29.34 billion kip (US$3.76 million) and the main products were fuel, vehicles and spare parts, construction materials and industrial goods.
In relation to trade with China, the province only exported produce, there were no imports of note. Khammuan's exports to China were valued at around 198.36 billion kip (US$25.43 million) and of a similar nature to those exported to Vietnam.
vientiane times
