Lao exports to EU enjoy strong growth

Part of Lao capital of Vientiane (Photo: Vientiane Times)

Vientiane (VNA) - Lao exports to the European Union (EU) reached 204.9 million EUR in the period from January to October last year, up 16.6 percent against the same period of 2014, according to the Vientiane Times.

Textiles and clothing remained the export from Laos , making up 63 percent of total imports and growing by 8.1 percent.

It was followed by coffee, accounted for 10.6 percent of total export value and increasing by 33.3 percent.

Meanwhile sugar made up 4.8 percent of total exports from Laos , experiencing an unusually strong growth of 513.4 percent.

The increase in Laos’ exports to the EU market could be linked to several factories in the Savan-Seno special economic zone in Savannakhet province beginning to export their products, the newspaper said.

In the meantime, the EU’s total exports to Laos for the same period stood at 88.1 million EUR, significantly decreasing by 36.1 percent.

Most of the key exports to Laos experienced moderate to sharp declines, including machinery, gems and jewellery, precious metals and pharmaceutical products.

Only automotive parts, which represent 6.5 percent of EU exports to Laos, continued to enjoy robust growth of 107.7 percent.-VNA