The ministry unveiled the results of the plan at the half-way stage during a meeting with donors last week. The figures showed the value of exports had already reached 76 percent of the goal set in the five year plan, and was 19 percent ahead of the target.
This remarkable increase in export value is largely due to the surge in sales of mining products and hydropower. The mining sector contributed 58 percent of the total, with 13 percent coming from hydropower exports, according to a presentation given by the Planning Department. About 68 percent of Lao exports are shipped to Asian countries including Thailand, Vietnam and China, while 21 percent go Oceania, including Australia and New Zealand, and the rest is exported to the EU and the United States. The planning department also unveiled that Lao imports underwent a major surge during the first two and a half years of the 7th National Socio-EconomicDevelopment Plan, from 2011 to the middle of 2013.
The Planning Department said the value of imports had exceeded the figure set in the plan by 28 percent, increasing by an average of 42 percent annually. Imports of vehicles and spare parts accounted for 23 percent of the total, while petrol and gas accounted for 18 percent and construction materials for 16 percent.
Information Source: http://www.investlaos.gov.la
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