Observatory of Economic Complexity

Flag Laos

Econ Complexity (2018): -1.16, Rank 116 of 137

Product Exports (2018): $5.09B, Rank 112 of 222

Exports Per Capita (2018): $720, Rank 92 of 219

Product Imports (2018): $6.17B, Rank 120 of 221

Imports Per Capita (2018): $873, Rank 93 of 219

Service Exports (2018): $921M, Rank 69 of 88

Service Imports (2018): $1.15B, Rank 69 of 88

GDP (2018): $18B, CURRENT US$
Rank 117 of 196

GDP growth (2008 - 2018): 230%, CURRENT US$
Rank 2 of 196

GDP PC (2018): $2,542, CURRENT US$
Rank 143 of 196

GDP PC GROWTH (2008 - 2018): 182%, CURRENT US$
Rank 2 of 196

About

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Overview: In 2018 Laos was the number 117 economy in the world in terms of GDP (current US$), the number 112 in total exports, the number 120 in total imports, and the number 116 most complex economy according to the Economic Complexity Index (ECI). In 2018, Laos exported $5.09B and imported $6.17B, resulting in a negative trade balance of -$1.08B. In 2018, Laos's exports per capita were $720 and its imports per capita were $873.

Trade: The top exports of Laos are Electricity ($1.41B), Copper Ore ($577M), Refined Copper ($500M), Video Displays ($262M), and Broadcasting Accessories ($256M). The top imports of Laos are Refined Petroleum ($864M), Cars ($288M), Broadcasting Equipment ($178M), Bovine ($166M), and Delivery Trucks ($125M).

Destinations: Laos exports mostly to Thailand ($2.6B), China ($1.61B), Japan ($153M), United States ($140M), and Germany ($108M), and imports mostly from Thailand ($4.12B), China ($1.39B), Japan ($127M), South Korea ($83.9M), and Russia ($53M).

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

Product Trade

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Product Exports

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Depth
Value

Top Export (2018): Electricity, $1.41B

Top Destination (2018): Thailand, $2.6B

In 2018 Laos exported a total of $5.09B, making it the number 112 exporter in the world. During the last five reported years the exports of Laos have changed by $1.36B from $3.72B in 2013 to $5.09B in 2018.

The most recent exports are led by Electricity ($1.41B), Copper Ore ($577M), Refined Copper ($500M), Video Displays ($262M), and Broadcasting Accessories ($256M). The most common destination for the exports of Laos are Thailand ($2.6B), China ($1.61B), Japan ($153M), United States ($140M), and Germany ($108M).

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Product Imports

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Depth
Value

Top Import (2018): Refined Petroleum, $864M

Top Origin (2018): Thailand, $4.12B

In 2018 Laos imported $6.17B, making it the number 120 trade destination in the world. During the last five reported years the imports of Laos changed by -$501M from $6.67B in 2013 to $6.17B in 2018.

The most recent imports of Laos are led by Refined Petroleum ($864M), Cars ($288M), Broadcasting Equipment ($178M), Bovine ($166M), and Delivery Trucks ($125M). The most common import partners for Laos are Thailand ($4.12B), China ($1.39B), Japan ($127M), South Korea ($83.9M), and Russia ($53M).

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Market Growth

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Flow

Fastest Growing Export Markets (2017 - 2018)

Fastest Growing Import Markets (2017 - 2018)

Service Trade

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Service Trade

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Laos Exports Services (2018): $921M

Laos Imports Services (2018): $1.15B

In 2018, Laos exported $921M worth of services. The top services exported by Laos in 2018 were Personal travel ($734M), Transportation ($115M), Construction services ($36.7M), Computer and information services ($24M), and Government services, n.i.e. ($7.01M).

The top services imported by Laos in 2018 were Personal travel ($925M), Transportation ($127M), Insurance services ($35.8M), Construction services ($32.5M), and Computer and information services ($15.5M).

Forecasts

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Trade Forecasts

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This section shows forecasts for total product exports and imports for Laos. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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Tariffs

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Tariffs by Product

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The top product import tariffs by their MFN Ad Valorem value for Laos are Anionic surface-active agents (40%) and Arrowroot, salep, etc fresh or dried and sago pith (40%).

Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.

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*The tariffs applied to imports for Laos are:
1: AANZFTA ASEAN - Australia - New Zealand Free Trade Area
84: Association of Southeast Asian Nations (ASEAN ) Free Trade Area
136: Most Favoured Nation duty rate treatement
184: Preferential tariff for China
239: Preferential tariff for India
249: Preferential tariff for Korea, Republic of

Economic Complexity

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Economic Complexity Ranking

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Scale

During the last 9 years Laos's⁩ ⁨economy has become relatively more complex, moving from the ⁩⁨122nd to the 116th⁩ 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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Most Specialized Products by RCA Index

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Laos has a high level of specialization in Electricity (421), Cassava (122), Locust beans, seaweed, sugar beet, cane, for food (101), Wood Charcoal (77.1), and Barium Sulphate (60.4). 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

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The highest complexity exports of Laos according to the product complexity index (PCI) are Hydrometers, thermometers, barometers, etc (0.94), Parts for radio, tv transmission, receive equipment (0.92), Electrical resistors and rheostats except for heating (0.77), Optical fibres, lenses, mirrors, prisms, etc (0.66), and Aluminium tubes and pipes (0.63). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Laos according to the relatedness index, are Crustaceans (0.14), Packing Bags (0.14), Coconuts, Brazil Nuts, and Cashews (0.14), Gold (0.13), and Molluscs (0.13). 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

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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 it is currently specialized in.

Diversification Frontier

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The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a 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 emissions.

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