ID :
42867
Wed, 01/28/2009 - 09:29
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https://oananews.org//node/42867
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680 million litres of oil to be imported
680 million litres of oil to be imported
(KPL) Laos will import at least 680 million litres of oil, valued at US$ 408 million, this year.
According to the State Fuel Co., the set figure is 8 per cent higher over last year.
The government planned to import larger amount of oil because it needs to ensure the implementation of many development projects in the country such as hydropower projects, the third and fourth international Mekong bridges in Khammouane and Bokeo respectively.
Minister of Industry and Commerce Nam Viyaket said that the country encountered trade deficit of at least US$ 28 million last fiscal year 2007-2008, while the export totalled US$ 973 million but the import was more than US$ 1 billion of which 23.8 per cent was oil.
However the minister said that it was possible that the country would gain trade surplus for the first time in the near future as the export in last year was increased by around 5 per cent. And minerals accounted for 58 per cent of the entire export.
The country imported 628 million litres of oil last year, which was valued at US$ 376 million. Most of them was for infrastructure construction projects.
(KPL) Laos will import at least 680 million litres of oil, valued at US$ 408 million, this year.
According to the State Fuel Co., the set figure is 8 per cent higher over last year.
The government planned to import larger amount of oil because it needs to ensure the implementation of many development projects in the country such as hydropower projects, the third and fourth international Mekong bridges in Khammouane and Bokeo respectively.
Minister of Industry and Commerce Nam Viyaket said that the country encountered trade deficit of at least US$ 28 million last fiscal year 2007-2008, while the export totalled US$ 973 million but the import was more than US$ 1 billion of which 23.8 per cent was oil.
However the minister said that it was possible that the country would gain trade surplus for the first time in the near future as the export in last year was increased by around 5 per cent. And minerals accounted for 58 per cent of the entire export.
The country imported 628 million litres of oil last year, which was valued at US$ 376 million. Most of them was for infrastructure construction projects.
