[Tlc] L-economics

[justinm at ucr.edu]

2007-1020 - VOA - Laos Imports Decline 74.7% From Last Year

http://www.voanews.com/lao/2007-10-20-voa2.cfm


Laos Imports Decline 74.7% From Last Year
By Songrit PonNgern
20/10/2007

Songrit reports on Laos Imports/Exports in Lao, 2.35 MB audio clip
Listen to Songrit reports on Laos Imports/Exports in Lao, 2.35
MB audio clip

Laos' Ministry of Industry and Trade reports that the
country's imports for the first nine months of this year total
$621 million, a 26% decline from the same period in 2006,
while exports increase 4.4% to more than $648 million. The
statistics lead Lao officials to believe that they will
definitely have a trade surplus for 2007.

According to VOA Bangkok stringer, Lao authorities attribute
import decline to rising price of fuel and the weak value of
the kip, which led businesses to import less.

Laos' central bank governor Phouphet Khamphounvong says the
fact that foreign currencies are widely circulated and
accepted for big item purchases in domestic markets is one
factor that contributes to the continued weakening of the kip,
leading to lack of confidence in the currency among the populace.

______________
Dr. Justin McDaniel
Dept. of Religious Studies
2617 Humanities Building
University of California, Riverside
Riverside, CA 92521
951-827-4530
justinm at ucr.edu