Russia (RUS) and Laos (LAO) Trade | The Observatory of Economic Complexity

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Russia (RUS) and Laos (LAO) Trade

2021

→

Exports $35.2MRnk 67 / 0

2021

→

Exports $11.5MRnk 140 / 0

2022

Economic Complexity (ECI) ECI 0.43Rnk 47 / 133

2022

Economic Complexity (ECI) ECI -0.79Rnk 100 / 133

2022

GDP$2.24TCURRENT US$
Rnk 8 / 186

2012-2022

GDP GROWTH1.45%CURRENT US$
Rnk 164 / 186

2022

GDP$15.7BCURRENT US$
Rnk 128 / 186

2012-2022

GDP GROWTH54.3%CURRENT US$
Rnk 52 / 186

2022

GDP PC $15,345CURRENT US$
Rnk 63 / 186

2012-2022

GDP PC GROWTH-0.49%CURRENT US$
Rnk 145 / 186

2022

GDP PC$2,088CURRENT US$
Rnk 149 / 186

2012-2022

GDP PC GROWTH33.4%CURRENT US$
Rnk 59 / 186

Image 1

Image by Sam Greenhalgh
Link: https://flic.kr/p/9qSwNm

Image 2

Image by toastal
Link: https://flic.kr/p/2c7PeqQ

Latest Trends
Historical Data
Potential Exports
Economic Complexity

About

Russia-Laos Trade: In 2021, Russia exported $35.2M to Laos. The main products that Russia exported to Laos were N/A. Over the past 5 years the exports of Russia to Laos have increased at an annualized rate of 18.6%, from $15M in 2016 to $35.2M in 2021.

In 2020, Russia exported services to Laos worth $640k, with Transportation ($320k), Other business services ($230k), and Insurance services ($37k) being the largest in terms of value.

Laos-Russia Trade: In 2021, Laos exported $11.5M to Russia. The main products that Laos exported to Russia were N/A. Over the past 5 years the exports of Laos to Russia have decreased at an annualized rate of 16.3%, from $27.9M in 2016 to $11.5M in 2021.

In 2021, Laos did not export any services to Russia.

Comparison: In 2022, Russia ranked 47 in the Economic Complexity Index (ECI 0.43), and 12 in total exports ($486B). That same year, Laos ranked 100 in the Economic Complexity Index (ECI -0.79), and 106 in total exports ($9.36B).

Latest Trends

January, 2022

About

Overview In January 2022, Russia exported $210k and imported $1.65M from Laos, resulting in a negative trade balance of $1.44M. Between January 2021 and January 2022 the exports of Russia have increased by $38k (22.1%) from $172k to $210k, while imports increased by $1.38M (516%) from $267k to $1.65M.

Trade In January 2022, the top exports of Russia to Laos were Prefabricated Buildings ($104k), Ink ($59.3k), Print Production Machinery ($6.96k), and Hair Products ($1.52k). In January 2022 the top imports of Russia from Laos were Telephones ($93.6k), Textile Footwear ($71.1k), Leather Footwear ($49.9k), Rubber Footwear ($20.5k), and Knit Men's Suits ($8.39k).

Origins In January 2022 the exports of Russia were mainly from NIZHNY NOVGOROD REGION ($172k) and MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($38.1k), while imports destinations were mainly MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($1.27M), ST. PETERSBURG ($372k), PERM TERRITORY ($3.35k), KALININGRAD REGION ($924), and LENINGRAD REGION ($216).

Growth In January 2022, the increase in Russia's year-by-year exports to Laos was explained primarily by an increase in product exports in . In January 2022, the increase in Russia's year-by-year imports from Laos was explained primarily by an increase in product imports in Textile Footwear ($65k or 1.06k%), Leather Footwear ($46.6k or 1.38k%), and Knit Men's Suits ($7.8k or 1.33k%).

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

EXPORT GROWTH (January 2021 - January 2022)$38k(22.1%)

IMPORT GROWTH (January 2021 - January 2022)$1.38M(516%)

MAIN EXPORTER (January 2022)NIZHNY NOVGOROD REGION$172k

This section shows exports and imports data at subnational level for Russia. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of Russia over time.

To check Laos and Russia trade dynamics, check the bilateral page.

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2021, Russia exported $35.2M to Laos. There were not main exports from Russia to Laos in 2021. During the last 5 years the exports of Russia to Laos have increased at an annualized rate of 18.6%, from $15M in 2016 to $35.2M in 2021.

In 2016, Laos exported $11.5M to Russia. There were not main exports from Laos to Russia in 2016. During the last 5 years the exports of Laos to Russia have decreased at an annualized rate of 16.3%, from $27.9M in 2021 to $11.5M in 2016.

Exports from Russia () to Laos () (2021)

Exports from Laos () to Russia () (2021)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Russia
Top DestinationChina$101B

Laos
Top DestinationThailand$3.29B

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

In 2022, countries that imported more from Russia than Laos included China ($101B), India ($40.4B), and Germany ($27.7B).

In 2022, countries that imported more from Laos than Russia included Thailand ($3.29B), Cambodia ($207M), and Andorra ($121k).

Difference in imports from Laos () and Russia () (2022)

Comparative Advantage Russia - Laos

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2021, Russia had a large net trade with Laos in the exports of .

During 2016, Laos had a large net trade with Russia in the exports of .

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Russia Laos+$7.68kRefined Petroleum

Top Product Potential Laos Russia+$5.51kTelephones

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 Russia and Laos. This means that a dot/product with the flag of Russia indicates it has a comparative advantage over Laos. Similarly, a dot/product with the flag of Laos indicates it has a comparative advantage over Russia.

Product Space of Russia () and Laos () (2021)

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