That projected dollar amount reflects a 105.5% acceleration from $6.1 billion five years earlier during 2020.
From 2023 to 2024, the overall value of Laotian exports spiked by 108.6% starting from $6 billion.
Based on the average exchange rate for 2024, the Lao kip depreciated by -58.1% against the US dollar since 2020 and diluted by -13.9% from 2023 to 2024. Laos’ weaker local currency makes its exports paid for in stronger US dollars relatively less expensive for international buyers.
The 5 biggest exports from Laos by value are potassic fertilizers, unwrought gold, solar power diodes and semi-conductors, natural rubber then iron ores and concentrates. Collectively, that quintet of 5 major Laotian exports represent over two-fifths (43.5%) of the Asian country’s international sales revenues during 2024.
Laos’ Key Trading Partners
The latest available country-specific data from 2023 shows that 87.5% of products exported from Laos were bought by importers in: mainland China (38.2% of the Laotian total), Vietnam (19.9%), Thailand (13.1%), Australia (5.7%), United States of America (1.64%), Japan (1.62%), Germany (1.57%), Singapore (1.42%), India (1.37%), Hong Kong (1.2%), Switzerland (1%) and Denmark (0.6%).
From a continental perspective, 85.0% of Laos’s exports by value were delivered to fellow Asian countries while 6.7% were sold to importers in Europe. Laos shipped another 6.2% worth of goods to Oceania led by Australia.
Smaller percentages went to buyers in North America (2%), Africa (0.02%) then Latin America (0.01%) excluding Mexico but including the Caribbean.
Given Laos’ population of 7.7 million people, its total $12.6 billion in 2024 exports translates to about $1,650 for every resident in the Southeast Asian country. That dollar metric exceeds the average $1,200 per capita one year earlier in 2023.
Top 10 Exports from Laos
The following export product groups represent the highest dollar value in Laotian global shipments during 2024. Also shown is the percentage share each export category represents in terms of overall exports from Laos.
- Mineral fuels including oil: US$2.7 billion (21.6% of total exports)
- Electrical machinery, equipment: $1.24 billion (9.9%)
- Ores, slag, ash: $1.16 billion (9.2%)
- Fertilizers: $930.6 million (7.4%)
- Rubber, rubber articles: $833.3 million (6.6%)
- Gems, precious metals: $746.8 million (5.9%)
- Vegetables: $469.9 million (3.7%)
- Paper, paper items: $441.5 million (3.5%)
- Inorganic chemicals: $392.5 million (3.1%)
- Milling products, malt, starches: $352 million (2.8%)
Laos’ top 10 export product categories generated almost three-quarters (73.7%) of the overall value of its global shipments.
Mineral fuels including oil was the fastest grower among the top 10 export categories, up by 2,363% from 2023 to 2024.
In second place for improving export sales was electrical machinery and equipment via a 502.4% advance.
Laos’ shipments of inorganic chemicals posted the third-fastest gain in value, up by 470.6%.
The lone decliner among Laos’ top 10 export categories was paper including items made from paper, thanks to its -5.6% year-over-year drop.
The above listed product categories are at the two-digit Harmonized Tariff System (HTS) code level.
Drilling down to the more granular four-digit HTS codes, electrical energy represents Laos’ most valuable exported product at 20.4% of the country’s total. In second place was potassic fertilizers (7.2%) trailed by unwrought gold (5.7%), solar power diodes and semi-conductors (5.2%), natural rubber (5%), iron ores and concentrates (4.1%), copper ores and concentrates (3.7%), sweet potatoes and yams (also 3.7%), uncoated paper (3.5%), then phone devices including smartphones (2.8%).
Products Resulting in Best Laotian Trade Surpluses
Laos generated an estimated US$2.6 billion trade surplus for 2024, reversing a -$1 billion deficit one year earlier for 2023.
The following types of Laotian product shipments represent positive net exports or a trade balance surplus. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports.
In a nutshell, net exports represent the amount by which foreign spending on a home country’s goods or services exceeds or lags the home country’s spending on foreign goods or services.
- Ores, slag, ash: US$1.16 billion (Up by 21.2% since 2023)
- Mineral fuels including oil: $1.16 billion (Reversing a -$1.2 billion deficit)
- Fertilizers: $726.1 million (Up by 170.8%)
- Rubber, rubber articles: $688.4 million (Up by 185.4%)
- Gems, precious metals: $549.4 million (Down by -13.3%)
- Electrical machinery, equipment: $486.2 million (Reversing a -$385.8 million deficit)
- Vegetables: $444.8 million (Up by 30.8%)
- Paper, paper items: $349.1 million (Down by -9.9%)
- Inorganic chemicals: $302.5 million (Reversing a -$40.2 million deficit)
- Milling products, malt, starches: $296.6 million (Up by 303.9%)
Laos has highly positive net exports in the international trade of copper and iron ores or concentrates, plus electrical energy. In turn, these cashflows indicate Laos’ competitive advantages under the related product categories.
Products Causing Largest Laotian Trade Deficits
Below are exports from Laos that result in negative net exports or product trade balance deficits. These negative net exports reveal product categories where foreign spending on home country Laos’s goods trail Laotian importer spending on foreign products.
- Machinery including computers: -US$1.2 billion (Up by 48.2% since 2023)
- Vehicles: -$950.3 million (Up by 35.9%)
- Other chemical goods: -$342.2 million (Up by 127.3%)
- Plastics, plastic articles: -$327.6 million (Up by 46.4%)
- Iron, steel: -$319.5 million (Up by 42.8%)
- Articles of iron or steel: -$270.8 million (Down by -12.7%)
- Beverages, spirits, vinegar: -$215.9 million (Up by 559.8%)
- Sugar, sugar confectionery: -$170.1 million (Reversing a $74.9 million surplus)
- Cereal/milk preparations: -$167.4 million (Up by 323.3%)
- Miscellaneous food preparations: -$135 million (Up by 472.7%)
Laos incurred highly negative net exports and therefore deep international trade deficits under the machinery including computers product category.
Laotian Export Companies
Not one Laotian corporation ranks among Forbes Global 2000.
Wikipedia lists international trade-related companies from Laos. Selected examples are shown below.
- Electricité du Laos (electricity)
- Lao Airlines (airliner)
- Lao Brewery Company (alcoholic beverages)
- Lao Skyway (airliner)
- Nam Theun 2 Power Company (electricity)
In macroeconomic terms, total exported goods from Laos represent 16.8% of its overall Gross Domestic Product for 2024 ($74.9 billion valued in Purchasing Power Parity US dollars). That 16.8% for exports to overall GDP in PPP for 2024 compares to 12.5% for 2023. Those percentages suggest a relatively increasing reliance on products sold on international markets for Laos’ total economic performance, albeit based on a short timeframe.
Another key indicator of a country’s economic performance is its unemployment rate. Laos’ unemployment rate averaged 1.2% for 2024, same as an average 1.2% one year earlier according to Trading Economics statistics.
Nicknamed the “Sandalwood City”, Vientiane is the capital city for Laos.
See also Indonesia’ Top 10 Exports, Indonesia’ Top 10 Imports, Top Asian Export Countries and Coal Exports by Country
Research Sources:
Central Intelligence Agency, The World Factbook Asia: Laos. Accessed on October 27, 2025
EXCHANGE-RATES.org, Lao Kip (LAK) To US Dollar (USD) Exchange Rate History. Accessed on October 27, 2025
Forbes 2020 Global 2000 rankings, The World’s Biggest Public Companies. Accessed on October 27, 2025
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on October 27, 2025
International Trade Centre, Trade Map. Accessed on October 27, 2025
Investopedia, Net Exports Definition. Accessed on October 27, 2025
Wikipedia, Flag of Laos. Accessed on October 27, 2025
Wikipedia, Gross domestic product. Accessed on October 27, 2025
Wikipedia, Laos. Accessed on October 27, 2025
Wikipedia, List of Companies of Laos. Accessed on October 27, 2025
Wikipedia, Purchasing power parity. Accessed on October 27, 2025