Laos (LAO) and South Korea (KOR) Trade | The Observatory of Economic Complexity

About

Laos-South Korea Trade: In 2022, Laos exported $77.3M to South Korea. The main products that Laos exported to South Korea were Wood Charcoal ($30.7M), Potassic Fertilizers ($24.5M), and Hydrometers ($9.31M). Over the past 5 years the exports of Laos to South Korea have increased at an annualized rate of 23.4%, from $27M in 2017 to $77.3M in 2022.

In 2022, Laos did not export any services to South Korea.

South Korea-Laos Trade: In 2022, South Korea exported $64.3M to Laos. The main products that South Korea exported to Laos were Delivery Trucks ($22.4M), Large Construction Vehicles ($7.4M), and Cars ($4.63M). Over the past 5 years the exports of South Korea to Laos have decreased at an annualized rate of 9.26%, from $105M in 2017 to $64.3M in 2022.

In 2022, South Korea did not export any services to Laos.

Comparison: In 2022, Laos ranked 100 in the Economic Complexity Index (ECI -0.79), and 106 in total exports ($9.36B). That same year, South Korea ranked 4 in the Economic Complexity Index (ECI 1.78), and 5 in total exports ($705B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Laos exported $77.3M to South Korea. The main products exported from Laos to South Korea were Wood Charcoal ($30.7M), Potassic Fertilizers ($24.5M), and Hydrometers ($9.31M). During the last 5 years the exports of Laos to South Korea have increased at an annualized rate of 23.4%, from $27M in 2017 to $77.3M in 2022.

In 2017, South Korea exported $64.3M to Laos. The main products exported from South Korea to Laos were Delivery Trucks ($22.4M), Large Construction Vehicles ($7.4M), and Cars ($4.63M). During the last 5 years the exports of South Korea to Laos have decreased at an annualized rate of 9.26%, from $105M in 2022 to $64.3M in 2017.

Exports from Laos () to South Korea () (2022)

Exports from South Korea () to Laos () (2022)

Latest Data

Trade between Laos () and South Korea ()

Laos Exports

Date

South Korea Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Laos
Top DestinationThailand$3.29B

South Korea
Top DestinationChina$150B

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

In 2022, no countries were registered that imported more from Laos than from South Korea.

In 2022, countries that imported more from South Korea than Laos included China ($150B), United States ($112B), and Vietnam ($60.7B).

Difference in imports from South Korea () and Laos () (2022)

Comparative Advantage Laos - South Korea

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Laos had a large net trade with South Korea in the exports of Wood Products ($31.1M), Chemical Products ($24.6M), and Instruments ($9.31M).

During 2017, South Korea had a large net trade with Laos in the exports of Transportation ($31.2M), Machines ($14.6M), and Foodstuffs ($4.47M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Laos South Korea+$5.22MTelephones

Top Product Potential South Korea Laos+$7.67MCars

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.

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of Laos and South Korea. This means that a dot/product with the flag of Laos indicates it has a comparative advantage over South Korea. Similarly, a dot/product with the flag of South Korea indicates it has a comparative advantage over Laos.

About

Historical Data

Bilateral Trade by Products

Exports from Laos () to South Korea () (2022)

Exports from South Korea () to Laos () (2022)

Latest Data

Trade between Laos () and South Korea ()

Laos Exports

South Korea Exports

Market Competitiveness

Difference in imports from South Korea () and Laos () (2022)

Comparative Advantage Laos - South Korea

Potential Exports

Potential Exports

Subscribe today to OEC pro and access the latest data

Subscribe today to OEC pro and access the latest data

Economic Complexity

Competitive Landscape

Product Space of Laos () and South Korea () (2022)

Keep Exploring