Laos2019 Economic Complexity : -0.87, Rank 116 of 146
2019 Product Exports | Imports: $6.65B | $7.2B, 104 of 225 | 117 of 225
2019 Per Capita Product Exports | Imports: $927 | $1k, 127 of 219 | 148 of 219
2018 Service Exports | Imports : $921M | $1.15B, 69 of 88 | 69 of 88
Overview: In 2019 Laos was the number 115 economy in the world in terms of GDP (current US$), the number 104 in total exports, the number 117 in total imports, the number 136 economy in terms of GDP per capita (current US$) and the number 116 most complex economy according to the Economic Complexity Index (ECI).
Exports: The top exports of Laos are Electricity ($1.33B), Copper Ore ($568M), Refined Copper ($459M), Rubber ($290M), and Gold ($240M), exporting mostly to Thailand ($2.4B), China ($1.88B), Vietnam ($1.07B), Japan ($164M), and United States ($146M).
Imports: The top imports of Laos are Refined Petroleum ($803M), Cars ($236M), Bovine ($234M), Iron Structures ($149M), and Other Steel Bars ($124M), importing mostly from Thailand ($3.8B), China ($1.87B), Vietnam ($747M), Japan ($121M), and South Korea ($96.1M).
Location: Laos borders Myanmar, Cambodia, China, Thailand, and Vietnam by land.
Top Export (2019): Electricity, $1.33B
Top Destination (2019): Thailand, $2.4B
In 2019, Laos exported a total of $6.65B, making it the number 104 exporter in the world. During the last five reported years the exports of Laos have changed by $1.97B from $4.68B in 2014 to $6.65B in 2019.
The most recent exports are led by Electricity ($1.33B), Copper Ore ($568M), Refined Copper ($459M), Rubber ($290M), and Gold ($240M). The most common destination for the exports of Laos are Thailand ($2.4B), China ($1.88B), Vietnam ($1.07B), Japan ($164M), and United States ($146M).
Top Import (2019): Refined Petroleum, $803M
Top Origin (2019): Thailand, $3.8B
In 2019 Laos imported $7.2B, making it the number 117 trade destination in the world. During the last five reported years the imports of Laos changed by -$434M from $7.64B in 2014 to $7.2B in 2019.
The most recent imports of Laos are led by Refined Petroleum ($803M), Cars ($236M), Bovine ($234M), Iron Structures ($149M), and Other Steel Bars ($124M). The most common import partners for Laos are Thailand ($3.8B), China ($1.87B), Vietnam ($747M), Japan ($121M), and South Korea ($96.1M).
Fastest Growing Export Markets (2018 - 2019)
Fastest Growing Import Markets (2018 - 2019)
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).
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.
*The tariffs applied to imports for Laos are:
Laos has a high level of specialization in Recovered Paper Pulp (164), Cassava (150), Barium Sulphate (105), Processed Cereals (103), and Electricity (101). Specialization is measured using RCA, an index that takes the ratio between Laos observed and expected exports in each product.
The highest complexity exports of Laos according to the product complexity index (PCI) are Hydrometers, thermometers, barometers, etc (1.16), Optical fibres, lenses, mirrors, prisms, etc (0.95), Parts for radio, tv transmission, receive equipment (0.92), Electrical resistors and rheostats except for heating (0.8), and Electric apparatus for line telephony, telegraphy (0.69). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for Laos according to the relatedness index, are Coconuts, Brazil Nuts, and Cashews (0.19), Other Oily Seeds (0.18), Crustaceans (0.18), Niobium, Tantalum, Vanadium and Zirconium Ore (0.17), and Manganese Ore (0.17). 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.
During the last 11 years Laos's economy has become relatively más complex, moving from the 120th 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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