Overview: This page contains the latest international trade data for Laos, including service trade data, and tariffs. 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.
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.
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.
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).
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.
*The tariffs applied to imports for Laos are:1: AANZFTA ASEAN - Australia - New Zealand Free Trade Area84: Association of Southeast Asian Nations (ASEAN ) Free Trade Area136: Most Favoured Nation duty rate treatement184: Preferential tariff for China239: Preferential tariff for India249: Preferential tariff for Korea, Republic of
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.
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.
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.
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.
Laos
