In the first six months of 2022, the leading agricultural products exported by Laos included three categories, with a value of up to US$522 million. Among them, cassava was the first, followed by bananas and rubber.
According to the Trade Information Center of the Ministry of Industry and Trade of Laos, in the first six months of 2022, agricultural products were considered to be another important category for foreign exchange earnings in Laos, accounting for 20% of the total export products. Compared with the export of electricity and gold, the total export value ranked first. Among them, the top three exported agricultural products are cassava, bananas, and rubber.
Cassava is considered the most lucrative commodity in the category, generating a value of US$249 million, showing good momentum, and representing a 27% increase over the same period in the first six months of 2021 when the average value was US$196 million.
The countries where Laos exported the most cassavas are Thailand, Vietnam, and China. Banana was the second largest export product, valued at US$141 million, and the countries where Laos exported the most bananas were China, Thailand, and Vietnam. Rubber was the third largest export product, valued at US$132 million, and the countries where Laos exported the most rubber were China, Vietnam, and Malaysia.
It can be seen that Laos' export partners are mainly Thailand, Vietnam, and China. They are also the partners of the Laos Free Trade Agreement and Bilateral Trade Agreement. Therefore, for the export of such goods, the importing country will benefit from this special trade right to reduce import duties.
Source: Lao Chinese Website