Cassava Boom Leading to Deforestation, Air Pollution in Laos

The demand for cassava has seen it become the most profitable agricultural product in Laos, as demonstrated by the country’s February trade figures: cassava was the leading export item, with figures totaling USD 85 million. Laos exports most of its cassava to Thailand and Vietnam, where ...

Manyphone Vongphachanh

Laos Records Lowest Year-on-Year Trade Deficit of USD 13 Million in January

The trade deficit in Laos soared to USD 233 million in September 2022 but has been decreasing steadily since then.The overall value of trade in Laos was USD 935 billion in January this year, with USD 461  million in exports and USD 474 million in imports, according ...

Manyphone Vongphachanh

BOL regulates currency exchange rates in bid to stabilise economy

The Bank of the Lao PDR (BOL) has issued a new Decision on the setting of currency exchange rates, as a guideline for commercial banks trading in foreign currencies.The move is aimed at enabling commercial banks to operate with a degree of flexibility in the ...

Somsack Pongkhao

Laos Imports Fuel Worth USD 125 Million From Vietnam in 2022

Overall exports from Vietnam to Laos shot up by 10.4 percent to USD 656.4 million while other exports, including steel, dropped 15 percent to USD 60.1 million, and fertilizer surged up by 31 percent to USD 32.5 million.Import of goods from Laos to Vietnam, on the contrary, ...

Phontham Visapra

January inflation rate soars to new high of 40.3 percent

Year-on-year inflation in Laos jumped to 40.3 percent in January, the highest rate in 23 years, according to the latest report from the Lao Statistics Bureau. The government is attempting to curb the rising cost of goods and services but prices are showing no signs ...

Somsack Pongkhao

Customs payments on freight rise steeply at Boten border crossing

The amount of revenue collected from tariffs/fees paid at the Boten International Customs Checkpoint on the Laos-China border exceeded 661.5 billion kip in 2022, which was 28.33 percent more than the target figure. Head of the Boten International Customs Checkpoint, Mr Vilakone Kettavong, recently attributed ...

Somsack Pongkhao

Thai Railway Delegation Visits Laos for Transportation Discussions

The delegation was led by Athipu Chitranukroh, Deputy Director-General of the Department of Rail Transport (DRT), and Kitjaluck Srinuchsart, Deputy Director-General of the Thai Customs Department. Representatives of Thailand’s Railway Technology Development Institute also participated in the visit, according to a DRT news update. The two sides ...

Latsamy Phonevilay

Laos Sees a Trade Deficit of USD 23 Million in December

According to the Lao Trade Portal, the country recorded a trade deficit of USD 23 million in December, which is considerably lower than the trade deficits of USD 45 million and USD 230 million reported in November and October, respectively.The overall value of trade hit USD ...

Phontham Visapra

China-indebted Laos way more broke than advertised

Laos’ public debt could climb to nearly 95% of GDP by the end of 2022, making it one of the most heavily indebted and mostly likely to default nations in Asia, according to World Bank estimates published this month.Significantly, the World Bank’s already dire debt ...

DAVID HUTT

Money exchange units banned from selling foreign currency

Money exchange units that represent commercial banks are now prohibited from selling foreign currency, according to the Bank of the Lao PDR. Became effective on October 11, the ban supports the government’s attempts to give commercial banks a greater role in the purchase and sale ...

Times Reporters

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