Does Laos have a trade surplus?

Laos recorded a trade surplus of $1 billion in 2021, with merchandise imports of $6 billion, which increased by 15.6 percent compared to 2020, and exports of $7 billion, which increase by 11.88 percent compared to 2020. Laos imported $33.5 million worth of goods from the United States and exported $218.4 million to the United States in 2021.

What is the future outlook for the Bess market?

Future Outlook: The BESS market is expected to continue expanding as renewable energy penetration increases, grid infrastructure evolves, and energy storage technologies mature. Innovations in battery chemistries, system integration, and digitalization are likely to shape the future trajectory of the market.

How did Laos grow in 2021?

Laos’ GDP reached $19.14 billion in 2020, growing just 0.5 percent due to COVID-19, however the economy achieved a growth rate of 3.3 percent in 2021 ($19.90 billion) mainly due to the strength of the mining and agriculture sectors. Laos’ population remained steady at 7.4 million in 2022.

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).

Which countries trade in Laos in 2021?

Since 2005, trade increased from $14 million to $251.9 million per year in 2021. China, Thailand, and Vietnam are still the dominant trade and investment actors in Laos, with Malaysia, the Republic of Korea, France, Hong Kong, and the Netherlands also increasingly active.

How much money did US import from Laos in 2022?

U.S. goods imports from Laos totaled $274 million in 2022.