Laos built up a major trade deficit last fiscal year but the news is not a major concern for the Minister of Industry and Commerce.
Speaking during an interview with local media in Vientiane yesterday, Dr Nam Vinhaket said the Ministry of Industry and Commerce was not worried about the large trade deficit amassed during the first nine months of last fiscal year because it is largely the result of foreign direct investment rather than overconsumption.
He said most of the goods imported were for investment purposes, such as construction materials, electrical equipment and vehicles, and these would help create the foundation for a higher export value in the coming years
Laos built up a major trade deficit last fiscal year but the news is not a major concern for the Minister of Industry and Commerce.
Speaking during an interview with local media in Vientiane yesterday, Dr Nam Vinhaket said the Ministry of Industry and Commerce was not worried about the large trade deficit amassed during the first nine months of last fiscal year because it is largely the result of foreign direct investment rather than overconsumption.
He said most of the goods imported were for investment purposes, such as construction materials, electrical equipment and vehicles, and these would help create the foundation for a higher export value in the coming years
Vientianetimes
555 this is very funny, though... So since when our country(Laos) had a surplus on merchandise trade ? and just how large is the trade deficit ? Everthing from househole to electronics used is imported from other countries...
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