The hit to the value of Laos' mineral commodity exports inflicted by lower international prices have been confirmed by figures showing an 8.7 percent decrease in returns despite increasing production, local media reported Tuesday.

Falling prices for gold, potash and copper inflicted the greatest downward pressure on proceeds from mining in Laos in 2013- 2014, according to figures published by the country's Ministry of Energy and Mines, state-run media Vientiane Times reported.

Laos' mining exports were valued at about 12.6 trillion Lao kip (1.56 billion US dollars) for fiscal 2013-14, down from approximately 13.8 trillion (1.7 billion US dollars) the previous 12 months.

A decrease of 29.15 percent in the return on gold exports came despite increased production total of 36.8 percent to 30 tonnes for the 12-month period.

The country's largest gold miner, MMG Sepon ceased its gold operations in December 2013 due to depleting ore reserves and lower margins, while its copper production continues.

The falling value of commodity exports has also flowed on to decreased treasury takings from the mining sector, considered an important source of budget revenue for the Southeast Asian nation.

According to the report, the Lao government anticipates 14.8 trillion kip (1.82 billion US dollars) in mineral exports for fiscal 2014-15.

Mining project approvals have been granted to some 69 companies of which 50 are in the production phase.

According to the Ministry of Planning and Investment, the mining sector is in receipt of 24 percent of foreign direct investment (FDI) to Laos, second only to the electric power generation sector on 28 percent.