Laos and China bilateral trade increases to US$8.23bil in 2024, marking significant growth
Image: From Laotian Times
VIENTIANE (Laotian Times): In 2024, Laos and China achieved a significant milestone in trade, with a total value of US$8.23 billion, marking a 15.91 per cent increase compared to 2023.
This growth was driven by international transactions across several sectors, including the Lao-China railway, investment, and development projects.
Last year, the two countries reaffirmed their cooperation through the Lao-China Partnership for a Shared Future (2024-2028) Master Plan, which aims to expand cross-border collaboration and promote development across multiple sectors on both sides.
China has consistently played a key role in Laos' market and investment landscape, standing out as the largest foreign investor among 53 countries, with total investments valued at US$18 billion.
This included US$4.56 billion worth of Lao exports to China, marking a 21.4 per cent increase from 2023, while imports from China reached US$3.68 billion, up by 9.8 per cent.
In 2024, China remained Laos' second largest trading partner, with a total bilateral trade value of US$8.23 billion.
The economic exchange between Laos and China has significantly increased since the launch of the Lao-China Railway in 2021.
To date, the railway has transported over 54 million tons of goods and carried more than 48.6 million passengers. In addition, China ranks as the third-largest source of tourists to Laos, with over 1,048,034 Chinese visitors recorded in 2024.
In the development sector, Laos and China have collaborated on numerous projects funded by China, totaling approximately US$70 million.
Eight major projects have been completed, including the establishment of an Institute of Communication and Information Technology, an E-Commerce project to promote Lao agricultural products, and the Luang Prabang Provincial Hospital Improvement Project.
These initiatives reflect the deepening cooperation aimed at advancing infrastructure and public services in Laos.
Currently, 17 development projects worth CNY 2.5 billion (approximately USD 350 million) are underway, with completion expected by mid-2025.
These projects focus on four northern provinces—Phongsaly, Luang Namtha, Oudomxay, and Houaphanh—and aim to improve living standards and strengthen infrastructure for local communities. - Laotian Times
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