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2023
Economic Complexity
Trade -0.89Rank 107 of 132
2022
Economic Complexity
Research -0.96Rank 122 of 140
2023
Product
Exports | Imports $8.7B | $8.06B108 of 226 |  126 of 226
2023
Per Capita Product
Exports | Imports $1.14k | $1.05k119 of 220 |  159 of 220

About

Overview In 2023, Laos was the number 133 economy in the world in terms of GDP (current US$), the number 108 in total exports, the number 126 in total imports, the number 157 economy in terms of GDP per capita (current US$) and the number 107 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Laos are Electricity ($2.15B), Potassic Fertilizers ($840M), Gold ($653M), Other Uncoated Paper ($453M), and Copper Ore ($428M), exporting mostly to China ($3.41B), Thailand ($2.99B), Australia ($367M), United States ($306M), and Cambodia ($190M).

Imports The top imports of Laos are Refined Petroleum ($1.24B), Cars ($247M), Raw Sugar ($244M), Delivery Trucks ($186M), and Machinery Having Individual Functions ($160M), importing mostly from Thailand ($4.64B), China ($2.9B), Japan ($100M), Singapore ($66.2M), and Germany ($44.2M).

Location Laos borders Burma, Cambodia, China, Thailand, and Vietnam by land.

Latest Trends

Latest Trade

Flow
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Y-AXIS SCALE

The following section uses the most recent trade data from partners of Laos.

Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Latest Data

Flow
Color
Depth

The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2023)Electricity$2.15B
Top Destination (2023)China$3.41B

In 2023, Laos exported a total of $8.7B, making it the number 108 exporter in the world. During the last five reported years the exports of Laos have changed by $2.27B from $6.43B in 2018 to $8.7B in 2023.

The most recent exports are led by Electricity ($2.15B), Potassic Fertilizers ($840M), Gold ($653M), Other Uncoated Paper ($453M), and Copper Ore ($428M). The most common destination for the exports of Laos are China ($3.41B), Thailand ($2.99B), Australia ($367M), United States ($306M), and Cambodia ($190M).

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Exports (2023)
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Destinations (2023)
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Market Growth

Flow
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Growth
Fastest Growing Export Markets (2022 - 2023)
China$428M (+ 14.4%)
India$88.5M (+ 154%)
United States$25.2M (+ 8.98%)
Fastest Growing Import Markets (2022 - 2023)
China$794M (+ 37.8%)
Thailand$105M (+ 2.32%)
Brazil$26.5M (+ 1.93k%)

Total Export Growth by Market (2022 - 2023)

Potential Exports

Potential Exports

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Service Trade

Service Trade

Laos Exports Services (2019)$1.18B
Laos Imports Services (2019)$1.25B

In 2019, Laos exported $1.18B worth of services. The top services exported by Laos in 2019 were Personal travel ($935M), Transportation ($167M), Computer and information services ($33.4M), Insurance services ($26.6M), and Construction services ($14.9M).

The top services imported by Laos in 2019 were Personal travel ($1.01B), Transportation ($145M), Insurance services ($37.8M), Computer and information services ($16.8M), and Other business services ($13.7M).

Service Exports (2019)

Service Imports (2019)

Economic Complexity

Overview

Economic Complexity (Trade)-0.89Rank 107 of 132
Economic Complexity (Research)-0.96Rank 122 of 140

Most Specialized Products by RCA Index

Laos has a high level of specialization in Cassava (252), Barium Sulphate (193), Locust beans, seaweed, sugar beet, cane, for food (121), Dissolving Grades Chemical Woodpulp (116), and Potassic Fertilizers (86.4). Specialization is measured using RCA, an index that takes the ratio between Laos observed and expected exports in each product.

Most Complex Products by PCI

The highest complexity exports of Laos according to the product complexity index (PCI) are Glass; articles n.e.c. in chapter 70 (0.92), Optical fibres and optical fibre bundles; optical fibre cables not of heading... (0.92), Spectacles, goggles and the like; corrective, protective or other (0.9), Video recording or reproducing apparatus (0.83), and Synthetic rubber and factice derived from oils, in primary forms or in... (0.57). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

The top export opportunities for Laos according to the relatedness index, were Knit Men's Suits (0.15), Bran (0.15), Manganese Ore (0.15), Coconuts, Brazil Nuts, and Cashews (0.15), and Packing Bags (0.14). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Laos is not specialized in.

Product Space

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.

Relatedness Space

This network shows the products most related to the production structure of Laos. These are products that tend to be co-exported with the products that Laos exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relatedness Space (2023)

Diversification Frontier

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Depth

The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.

Diversification Frontier

Economic Complexity Ranking

Methodology
Scale

During the last 20 years Laos's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨nullth to the 107th⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

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ECI (Trade) Ranking by Country

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