Laos’ Agricultural Produce Generates USD 522 Million Revenue in First Half of 2022

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Laos exported three main agricultural products worth USD 522 million until June 2022.

A report from the Lao Trade Portal states that agricultural items are considered to be an important source of generating income for Laos, accounting for 20 percent of all exported products.

Cassava, Banana, and Rubber are the three most exported agricultural products that were shipped mainly to China, Vietnam, and Thailand.

Cassava remains the most profitable agricultural product, generating USD 249 million with a higher growth rate compared to the same period in 2021, while banana exports yielded USD 141 million.

Rubber is the third most valuable export, worth USD 132 million, and the top three countries that exported it are China, Vietnam, and Malaysia.

Thailand, Vietnam, and China are trade partners with whom Laos has free trade and bilateral trade agreements, according to the Lao Trade Portal.

The export of agricultural goods benefits from special trade rights and reduces the duty fee for the importing country.