Laos (LAO) and Finland (FIN) Trade | The Observatory of Economic Complexity

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Laos-Finland Trade: In 2023, Laos exported $3.01M to Finland. The main products that Laos exported to Finland were Non-Knit Men's Suits ($1.24M), Non-Knit Men's Coats ($538k), and Knit Men's Undergarments ($320k). Over the past 5 years the exports of Laos to Finland have increased at an annualized rate of 17.5%, from $1.34M in 2018 to $3.01M in 2023.

In 2023, Laos did not export any services to Finland.

Finland-Laos Trade: In 2023, Finland exported $2.74M to Laos. The main products that Finland exported to Laos were X-Ray Equipment ($890k), Lifting Machinery ($544k), and Trunks and Cases ($276k). Over the past 5 years the exports of Finland to Laos have increased at an annualized rate of 6.81%, from $1.97M in 2018 to $2.74M in 2023.

In 2023, Finland did not export any services to Laos.

Comparison: In 2023, Laos ranked 107 in the Economic Complexity Index (ECI -0.89), and 108 in total exports ($8.7B). That same year, Finland ranked 13 in the Economic Complexity Index (ECI 1.46), and 45 in total exports ($84.3B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Laos exported $3.01M to Finland. The main products exported from Laos to Finland were Non-Knit Men's Suits ($1.24M), Non-Knit Men's Coats ($538k), and Knit Men's Undergarments ($320k). During the last 5 years the exports of Laos to Finland have increased at an annualized rate of 17.5%, from $1.34M in 2018 to $3.01M in 2023.

In 2018, Finland exported $2.74M to Laos. The main products exported from Finland to Laos were X-Ray Equipment ($890k), Lifting Machinery ($544k), and Trunks and Cases ($276k). During the last 5 years the exports of Finland to Laos have increased at an annualized rate of 6.81%, from $1.97M in 2023 to $2.74M in 2018.

Exports from Laos () to Finland () (2023)

Exports from Finland () to Laos () (2023)

Latest Data

Trade between Laos () and Finland ()

Finland Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Laos
Top DestinationChina$3.41B

Finland
Top DestinationUnited States$9.68B

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

In 2023, countries that imported more from Laos than Finland included Thailand ($2.99B), Cambodia ($190M), and Burma ($5.8M).

In 2023, countries that imported more from Finland than Laos included United States ($9.68B), Germany ($9.26B), and Sweden ($8.13B).

Difference in imports from Finland () and Laos () (2023)

Comparative Advantage Laos - Finland

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Laos had a large net trade with Finland in the exports of Textiles ($2.78M), Footwear and Headwear ($153k), and Foodstuffs ($27.7k).

During 2018, Finland had a large net trade with Laos in the exports of Instruments ($1.2M), Machines ($1.12M), and Animal Hides ($288k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Laos Finland+$826kNon-Knit Men's Suits

Top Product Potential Finland Laos+$271kLifting Machinery

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

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Laos () to Finland () (2023)

Exports from Finland () to Laos () (2023)

Latest Data

Trade between Laos () and Finland ()

Finland Exports

Market Competitiveness

Difference in imports from Finland () and Laos () (2023)

Comparative Advantage Laos - Finland

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Laos () and Finland () (2023)

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