An exact analysis of deformation and stress field in a laminated elastic tube under extension and uniform pressuring is presented. The problem of finite laminated tube is considered with emphasis on the end effect. The problem is formulated on the basis of the state space formalism for axisymmetric deformation of transversely isotropic layer. The transfer matrix transmits the state vector in radial direction from inner surface to outer surface and takes into account the interfacial continuity and lateral boundary conditions in a rigorous manner. Upon delineating the symplectic orthogonality relations of the eigenvectors and by using eigenfunction expansion, an exact solution which satisfies the end conditions is determined. The results show that the end effect is significant but confined to a local region near the base where the displacement and stress distributions are remarkably different from those according to the simplified solutions that only satisfy lateral BC.