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2022
Flag → Flag
Exports $105MRnk 120 / 220
2022
Flag → Flag
Top Product $22.4MDelivery Trucks
2022
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Exports $27MRnk 12 / 125
2022
Flag → Flag
Top Product $30.7MWood Charcoal
2022
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Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
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Economic Complexity (ECI) ECI -0.79Rnk 100 / 133
2022
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GDP$1.67TCURRENT US$
Rnk 13 / 186
2012-2022
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GDP GROWTH30.3%CURRENT US$
Rnk 100 / 186
2022
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 GDP$15.7BCURRENT US$
Rnk 128 / 186
2012-2022
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GDP GROWTH54.3%CURRENT US$
Rnk 52 / 186
2022
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GDP PC $32,255CURRENT US$
Rnk 33 / 186
2012-2022
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GDP PC GROWTH26.7%CURRENT US$
Rnk 70 / 186
2022
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GDP PC$2,088CURRENT US$
Rnk 149 / 186
2012-2022
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GDP PC GROWTH33.4%CURRENT US$
Rnk 59 / 186

About

South Korea-Laos Trade: In 2022, South Korea exported $105M to Laos. The main products that South Korea exported to Laos were Delivery Trucks ($22.4M), Large Construction Vehicles ($7.4M), and Cars ($4.63M). Over the past 5 years the exports of South Korea to Laos have increased at an annualized rate of 66.7%, from $8.11M in 2017 to $105M in 2022.

In 2022, South Korea did not export any services to Laos.

Laos-South Korea Trade: In 2022, Laos exported $27M to South Korea. The main products that Laos exported to South Korea were Wood Charcoal ($30.7M), Potassic Fertilizers ($24.5M), and Hydrometers ($9.31M). Over the past 5 years the exports of Laos to South Korea have increased at an annualized rate of 74.9%,  from $1.65M in 2017 to $27M in 2022.

In 2022, Laos did not export any services to South Korea.

Comparison: In 2022,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.78), and 5 in total exports ($705B). That same year, Laos ranked 100 in the Economic Complexity Index (ECI -0.79), and 106 in total exports ($9.36B).

Latest Trends

May, 2024

About

Overview In May 2024, South Korea exported $8.14M and imported $6.54M from Laos, resulting in a positive trade balance of $1.6M. Between May 2023 and May 2024 the exports of South Korea have decreased by $-593k (-6.79%) from $8.73M to $8.14M, while imports decreased by $-1.59M (-19.5%) from $8.12M to $6.54M.

Trade In May 2024, the top exports of South Korea to Laos were Cars, tractors, trucks & parts thereof. ($2.63M), Machinery, mechanical appliances, & parts ($1.09M), Preparations of cereals, flour, starch or... ($325k), Optical, photo, & film equipment; medical... ($190k), and Perfumery & cosmetics ($157k). In May 2024 the top imports of South Korea from Laos were Fertilizers ($5.73M), Wood, wood articles, & charcoal ($5.02M), Optical, photo, & film equipment; medical... ($626k), Footwear ($194k), and Knitted clothing accesories ($173k).

Growth In May 2024, the decrease in South Korea's year-by-year exports to Laos was explained primarily by an decrease in product exports in Machinery, mechanical appliances, & parts ($-1.24M or -53.2%), Plastics & articles thereof ($-148k or -81.8%), and Electrical machinery and electronics ($-133k or -46.8%). In May 2024, the decrease in South Korea's year-by-year imports  from Laos was explained primarily by an decrease in product imports  in Electrical machinery and electronics ($-182k or -80.5%), Coffee, tea, mate & spices ($-90k or -96.8%), and Toys, games, & sports ($-82k or -46.6%).

Latest Trade

Flow
Time Scale
Depth
Value
EXPORT GROWTH (May 2023 - May 2024)$-593k(-6.79%)
IMPORT GROWTH (May 2023 - May 2024)$-1.59M(-19.5%)

This section shows exports and imports data at subnational level for South Korea. Click any date in the line plot or any product to explore the exports or imports behavior of South Korea over time.

To check Laos and South Korea trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Laos and South Korea Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, South Korea exported $105M to Laos. The main products exported from South Korea to Laos were Delivery Trucks ($22.4M), Large Construction Vehicles ($7.4M), and Cars ($4.63M). During the last 5 years the exports of South Korea to Laos have increased at an annualized rate of 66.7%, from $8.11M in 2017 to $105M in 2022.

In 2017, Laos exported $27M to South Korea. The main products exported from Laos to South Korea were Wood Charcoal ($30.7M), Potassic Fertilizers ($24.5M), and Hydrometers ($9.31M). During the last 21 years the exports of Laos to South Korea have increased at an annualized rate of 74.9%, from $1.65M in 1996 to $27M in 2017.

Exports from South Korea (Flag) to Laos (Flag) (2022)

Exports from Laos (Flag) to South Korea (Flag) (2022)

Market Competitiveness

Color
South Korea
Top DestinationChina$150B
Laos
Top DestinationThailand$3.29B

This map shows whether countries import more from South Korea or Laos. Each country is colored based on the difference in imports they receive from South Korea and Laos or the difference in the growth in imports.

In 2022, countries that imported more from South Korea than Laos included China ($150B), United States ($112B), and Vietnam ($60.7B).

In 2022, no countries were registered that imported more from Laos than from South Korea.

Difference in imports from Laos (Flag) and South Korea (Flag) (2022)

Comparative Advantage South Korea - Laos

Flow
Scale

This chart compares trade between South Korea and Laos by product, considering products traded by both, South Korea and Laos.

During 2022, South Korea had a large net trade with Laos in the exports of Transportation ($31.2M), Machines ($14.6M), and Foodstuffs ($4.47M).

During 2017, Laos had a large net trade with South Korea in the exports of Wood Products ($31.1M), Chemical Products ($24.6M), and Instruments ($9.31M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Laos+$7.67MCars
Top Product Potential Laos South Korea+$5.22MTelephones

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of South Korea and Laos. This means that a dot/product with the flag of South Korea indicates it has a comparative advantage over Laos. Similarly, a dot/product with the flag of Laos indicates it has a comparative advantage over South Korea.

Product Space of South Korea (Flag) and Laos (Flag) (2022)

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