The surge in export values next fiscal year will be made possible thanks to mining royalties and revenues flowing from hydropower projects.
The government expects that electricity exports in the 2013/2014 fiscal year will reach US$557 million. A number of hydropower plants are now under construction and expected to be completed within the next fiscal year.
Exports of mineral ores will also be one of the main driving forces of export growth. The government expects that the total output of mining products will be valued at more than US$2 billion, most of which will be exported to generate foreign exchange.
Other top foreign exchange earners for Laos next fiscal year will be agricultural products, garments and handicrafts, tourism and some industrial products.
The government expects that next year, import values will reach US$2.7 billion, which will result in a trade deficit of about US$552 million.
In the first half of this fiscal year, the value of total imports was US$1.6 billion, which resulted in a trade deficit of about US$281 million.