Export values on the up in Champassak
Export values on the up in Champassak
The value of export products in Champassak province for the first six months of the fiscal year 2014-15 has now hit US$75.8 million (over 614.2 billion kip), an increase of 45 percent if compared to the same period the previous year.
Export values in the first six months have now reached 46 percent of the annual plan for 2014-15, with agricultural products for export representing the most outstanding income earner.
The value of agricultural exports for the first six months was recorded at US$38.2 million (more than 308.5 billion kip), which is equivalent to 23 percent growth when compared to the same period last year and represents around 32 percent of the plan.
The export figures were made public recently by the province's Industry and Commerce Department.
The province plans to achieve export values of more than US$165.8 million (over 1.34 trillion kip) for the year 2014-15; it mainly aims to earn value through exporting agricultural goods, contract farming products and other crops.
For the first six months of this year, the province exported more than 8,000 tonnes of coffee products, valued at US$24.1 million (more than 194.6 billion kip).
Meanwhile exports of industrial products were valued at US$26.9 million (more than 217.4 billion kip), covering 36 percent of all exported products and increased 27 percent when compared to the same period last year.
The department also noted that if compared to the last fiscal year, export values appear to have increased by almost 400 billion kip, after a figure of 935.7 billion kip (more than US$116.96 million) was recorded in the year 2013-14.
Coffee products are mainly sold to Europe, Japan and Vietnam, meanwhile other products such as rubber are sold to Vietnam, and rice is exported to the EU, China, Singapore and Indonesia, while vegetable products are selling in neighbouring Thailand.
At the same time, the export of timber and processed wood products, valued at US$10.6 million (more than 86.2 billion kip), represents 10 percent of all exports. It increased 47 percent when compared to the same period last year. The department also reported that the value of imports was recorded at US$65.1 million (over 525.7billion kip) during the first six months of the year; it rose 11 percent if compared to the same period last year and 39 percent of this fiscal year.
Champassak province is one of the biggest provinces in the country, so the import of consumption products is necessary for domestic distribution.
Imported products to be sold and distributed in the province were valued at US$39.2 million (more than 316.3 billion kip), covering 60 percent of all imported goods and a six percent increase if compared to the same period last year.
