Flag South Korea / Laos Flag

Exports Flag β†’ Flag  (2018): $83.9M, Rnk 118 / 210

Top Product Flag β†’ Flag (2018): $19.9M, Delivery Trucks

Exports Flag β†’ Flag (2018): $29M, Rnk 9 / 99

Top Product Flag β†’ Flag (2018): $11.9M, Wood Charcoal

Economic Complexity of Flag (2018): ECI 1.85, Rnk 5 / 137

Economic Complexity of Flag (2018): ECI -1.16, Rnk 116 / 137

GDP Flag (2018): $1.62T, CURRENT US$
Rnk 12 / 196

GDP GROWTH Flag (2008-2018): 61.6%, CURRENT US$
Rnk 69 / 196

GDP Flag (2018): $18B, CURRENT US$
Rnk 117 / 196

GDP GROWTH Flag (2008-2018): 230%, CURRENT US$
Rnk 2 / 196

GDP PC Flag (2018): $31,363, CURRENT US$
Rnk 34 / 196

GDP PC GROWTH Flag (2008-2018): 53.5%, CURRENT US$
Rnk 42 / 196

GDP PC Flag (2018): $2,542, CURRENT US$
Rnk 143 / 196

GDP PC GROWTH Flag (2008-2018): 182%, CURRENT US$
Rnk 2 / 196

South Korea-Laos: In 2018, South Korea exported $83.9M to Laos. The main products exported from South Korea to Laos were Delivery Trucks ($19.9M), Cars ($10.7M), and Vehicle Parts ($8.58M). During the last 22 years the exports of South Korea to Laos have increased at an annualized rate of 11.2%, from $8.1M in 1996 to $83.9M in 2018.

Laos-South Korea: In 2018, Laos exported $29M to South Korea. The main products exported from Laos to South Korea were Wood Charcoal ($11.9M), Hydrometers ($3.86M), and Broadcasting Equipment ($3.57M). During the last 22 years the exports of Laos to South Korea have increased at an annualized rate of 13.8%, from $1.67M in 1996 to $29M in 2018.

Comparison: In 2018, South Korea ranked 5 in the Economic Complexity Index (ECI 1.85), and 5 in total exports ($617B). That same year, Laos ranked 116 in the Economic Complexity Index (ECI -1.16), and 112 in total exports ($5.09B). In terms of GDP Per Capita, South Korea was ranked 34 with a GDP Per Capita of $31,363, and Laos was ranked 143 with a GDP Per Capita of $2,542.

Bilateral Trade by Products

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Depth
Value

In 2018, South Korea exported $83.9M to Laos. The main products exported from South Korea to Laos were Delivery Trucks ($19.9M), Cars ($10.7M), and Vehicle Parts ($8.58M). During the last 22 years the exports of South Korea to Laos have increased at an annualized rate of 11.2%, from $8.1M in 1996 to $83.9M in 2018.

In 2018, Laos exported $29M to South Korea. The main products exported from Laos to South Korea were Wood Charcoal ($11.9M), Hydrometers ($3.86M), and Broadcasting Equipment ($3.57M). During the last 22 years the exports of Laos to South Korea have increased at an annualized rate of 13.8%, from $1.67M in 1996 to $29M in 2018.

Market Competitiveness

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Measure

South Korea
Top Destination
: China, $160B

Laos
Top Destination
: Thailand, $2.6B

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 2018, countries that imported more from South Korea than Laos were China ($160B), United States ($73.1B), and Vietnam ($48.6B).

In 2018, countries that imported more from Laos than South Korea were Cape Verde ($10M).

Comparative Advantage South Korea - Laos

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Depth

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

During 2018, South Korea had a large net trade with Laos in the exports of Transportation ($44.7M), Machines ($16.7M), and Metals ($6.21M).

During 2018, Laos had a large net trade with South Korea in the exports of Wood Products ($12.5M), Machines ($3.95M), and Instruments ($3.87M).

Tariff Section

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This sections shows import tariffs for products traded between South Korea and Laos (using the HS6 product classification and the last year reported).

In 2018, the products from South Korea that paid the highest import tariffs to enter Laos were Manioc (cassava), fresh or dried (719%) and Manioc (cassava), fresh or dried (710%).

In 2018, the products from Laos that paid the highest import tariffs to enter South Korea were Cabbage lettuce (head lettuce) fresh or chilled (40%) and Manioc (cassava), fresh or dried (40%).

Explore Tariff Data

*The tariffs present between South Korea and Laos are:
84: Association of Southeast Asian Nations (ASEAN ) Free Trade Area
136: Most Favoured Nation duty rate treatement
252: Preferential tariff for Lao PDR
254: Preferential tariff for Least Developed Countries
343: Preferential trade agreement (APTA) Asia-Pacific Trade Agreement or (Previously named:Bangkok Agreement)

Trade Forecasts

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This section shows a forecast for total trade between South Korea and Laos. The forecast is based on a long short-term memory model or LSTM constructed using yearly trade data.

To create custom forecast, or modify the parameters of the forecasting model, visit our Forecast Section.

Explore Forecasts

Economic Complexity

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Competitive Landscape

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This visualization show the product space at the HS4 level colored from blue to red.  This mean that the more blue a dot/product is, the more South Korea has comparative advantage over Laos. Similarly, the more red a dot/product is, the more Laos has comparative advantage over South Korea.