Illustrative image (Source: KPL)
 
Hanoi (VNA) – Laos’ exports via the Generalised System of Preferences (GSP) and free trade agreements (FTAs) neared 1.31 billion USD last year, accounting for 24.3 percent of the total exports, according to the Lao News Agency KPL on May 6.

Meanwhile, its GSP and FTA imports reached 613.83 million USD, or 10.8 percent of the total imports, mostly from Thailand (329.04 million USD), China (79.58 million USD), and Vietnam (76.39 million USD).

Its major importers include Thailand (425.86 million USD), Vietnam (332.85 million USD), and China (250.95 million USD) with products such as industrial goods (637.56 million USD), farm produce (around 406.94 million USD) and minerals (roughly 89.5 million USD).

Laos spent the most on machinery and spare parts (369.16 million USD), construction materials (85.41 million USD), and apparel and household appliances (64.14 million USD).

Laos’ exports via the GSP only hit 278.6 million USD last year, but amounted to 1.03 billion USD via the FTAs. –VNA