A Study On The Impacts Of Export Trade On Laos’ Economic Growth

In the long history of world economic development,export trade has gradually integrated various countries and regions into the global economic sharing category.The exchange of goods between various countries and regions has enabled the diversification of commodity consumption through trade exchange.Therefore,export trade is promoted.The role of global economic integration is significant.Export trade as an important factor in economic growth has become a consensus in academia,and the theoretical system that explains the impact of exports on economic growth has been updated with the development of trade status.Studying the impact of export trade on Laos’ economic growth plays an important role in promoting Laos’ economic development and further deepening of export trade.After the establishment of the Lao People’s Democratic Republic in 1975,the domestic economy was mainly dominated by agro-industry,the industrial base was backward,the Soviet model was fully copied in socialist construction,and a highly centralized planned economic system was implemented.Industrial production cannot meet domestic demand,rely heavily on foreign imports,and the economic growth rate is very low.After the Fourth National Congress of Laos in 1986,it began to implement the policy of "renovation and opening up",actively guiding the market economy and opening up to the outside world,and also promoted the development of industry while achieving agricultural production in agricultural production.In 2015,they began to fall back and remain at around 7%of Laos’ economy in 2017.The growth rate was 6.9%,and Laos’ foreign trade also experienced a substantial increase.At present,Laos still expands its foreign trade to achieve economic development and expand domestic and foreign markets.This paper first analyzes the status quo of Laos’ export trade,including the scale of overall export trade,the scale of export trade of the three major industries,and makes an intuitive and comprehensive presentation of the status quo of Laos’export trade.Then it uses the econometric model to analyze the overall growth of Laos’economic growth.And the impact of sub-industry;finally,based on the results of empirical research and the experience of other countries’ export trade,it provides some useful suggestions for Laos’ export trade.