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04 Lao PDR Manufacturing sector
Apr 3, 2024 · Lao PDR embarked on an economic reform in 1990s and became a member of the World Trade Organization (WTO) in 2013. According to ASEAN in Figures 2020, Lao PDR has
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Assessing Laos as a potential manufacturing hub in
Assessing Laos as a potential manufacturing hub in Southeast Asia As China seeks to expand its industrial footprint overseas amidst escalating trade tensions with the United States, Laos has
FAQS 4
Does Lao PDR have a mixed economy?
Lao PDR embarked on an economic reform in 1990s and became a member of the World Trade Organization (WTO) in 2013. According to ASEAN in Figures 2020, Lao PDR has a mixed economy with the main contributors to the GDP are agriculture (14%), industry (35.9%), and services (39.9%).
What are the main industries in Lao PDR?
About 80% of its population is employed in the agriculture sector, primarily small and subsistence farming, in comparison to only 1% employed in non-manufacturing industrial sector. Its exports are dominated by mineral products and electricity. Agriculture processing is considered a key industry in Lao PDR after mining and energy.
How much does Laos trade with China?
In 2021, the most recent year in which trade data is available, Laos’ bilateral trade was approximately $5.18 billion with Thailand ($2.18 billion in exports, $3 billion in imports), $3.47 billion with China ($2.22 billion in exports, $1.25 billion in imports), and $1.71 billion with Vietnam ($1.22 billion in exports, $499 million in imports).
Why is investment in Lao PDR slow?
Investing in Lao PDR is slow due to significant infrastructure gaps. Investment opportunities in the Lao PDR manufacturing sector may increase in the future as a result of the government measures to diversify its economy and to become less reliant on natural resource-intensive sectors.
