Browse a full set of economic indicators

Lao P.D.R.

Includes Laos real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.

Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Laos economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Laos best banks and safest banks are also available.

Basic Information

Government Type: Communist state

Capital City: Vientiane (Viangchan)

GDP & Economic Information

Macroeconomy & Sovereign Data

Central Bank Bank of the Lao PDR
Currency Kips (LAK)

International Reserves USD 1.39 billion (2020)
Gross Domestic Product – GDP USD 19.38 billion (2021 estimate)
GDP (Purchasing Power Parity) USD 62.31 billion (2021 estimate)

GDP Data

Real GDP growth 2017: 6.9%
2018: 6.3%
2019: 4.7%
2020*: -0.4%
2021*: 2.1%
*Estimate
GDP per capita – current prices USD 2,625.61 (2021 estimate)
GDP per capita – PPP USD 8,443.80 (2021 estimate)
GDP (PPP) – share of world total USD 0.04% (2021 estimate)
GDP – composition by sector agriculture: 16.2%
industry: 32.1%
services: 40.6%
(2016 estimate)
Gross domestic expenditure on R&D; (% of GDP) N/A
Inflation 2017: 0.8%
2018: 2.0%
2019: 3.3%
2020*: 5.1%
2021*: 4.9%
*Estimate

Inflation & Debt

Inflation 2017: 0.8%
2018: 2.0%
2019: 3.3%
2020*: 5.1%
2021*: 4.9%
*Estimate
Government Bond Ratings Standard & Poor’s: N/A

Moody’s: N/A

Standard & Poor’s / Moody’s (Updated January 2017)
Unemployment rate N/A
Household saving rates N/A
Public debt (General government gross debt as a % of GDP) 2017: 57.2%
2018: 59.7%
2019: 61.1%
2020*: 68.2%
2021*: 70.9%
*Estimate
Public deficit (General government net lending/borrowing as a % of GDP) 2017: -4.6%
2018: -3.5%
2019: -3.1%
2020*: -4.0%
2021*: -3.4%
*Estimate
Market value of publicly traded shares N/A
Largest Companies N/A

Import/Export

Exports as percent of GDP (Exports of goods and services) 36.0% (2015)
Shares in world total merchandising export 0.01% (2015)
Shares in world total commercial services export 0.02% (2015)
Total exports USD 3.1 billion (2016 estimate)
Export commodities Wood products, coffee, electricity, tin, copper, gold, cassava
Total imports USD 3.9 billion (2016 estimate)
Import commodities Machinery and equipment, vehicles, fuel, consumer goods
Exports – major partners Thailand 30.4%, China 27%, Vietnam 17.6% (2015)
Imports – major partners Thailand 60.9%, China 18.6%, Vietnam 7.3% (2015)

Competitiveness & Trade

Current account balance USD -2.6 billion (2017 estimate)
Current account balance by percentage of GDP -17.6% (2017 estimate)
FDI inflows 2013: USD 427 million
2014: USD 721 million
2015: USD 1,220 million
FDI Outflows 2013: USD 1.0 million
2014: USD 1.9 million
2015: USD 1.1 million
Value of cross-border M&A, by country of purchaser N/A


United Nations Conference on Trade and Development (UNCTAD) – World Investment Report
Cross-border M&A deals worth over $3 billion completed in 2014 N/A
Cross-border M&A deals worth over $3 billion completed in 2015 N/A
Best countries for doing business
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.

Overall ranking: 139 out of 190 countries (2017)

Subcategories:

Starting a business: 160 out of 190 countries

Enforcing Contracts: 88 out of 190 countries

Registering Property: 65 out of 190 countries

Getting Credit: 75 out of 190 countries

Protecting Minority Investors: 165 out of 190 countries

Trading Across Borders: 120 out of 190 countries

Paying Taxes: 146 out of 190 countries

Dealing with Construction Permits: 47 out of 190 countries

Getting Electricity: 155 out of 190 countries

Resolving Insolvency: 169 out of 190 countries

Global competitiveness ranking 93 out of 138 countries

(2016-2017)
Index of Economic Freedom Ranking: 155 / Score: 49.83 (Repressed) (2016)

(100=totally free 0=totally repressed)

Population & Geographic Data

Time Zone UTC+7

Total Area 236,800 sq km
Total Population 1990: 4.245 million
2000: 5.388 million
2010: 6.396 million
2016*: 7.163 million
2021*: 7.87 million
*Estimate
Urban population as % of total population
1960: 8%
1980: 12%
2000: 22%
2015: 39%
Population median age 22.7 years (2016 estimate)
Population growth rate 1.53% (2016 estimate)
Life expectancy 64.3 years (2016 estimate)

CIA World Factbook / Life expectancy
% of population living on less than $3.10 a day 14.7% (2012)
Inequality of wealth distribution (Gini index)
37.9 (2012)

(0=perfect equality, 100=absolute inequality)
Freedom House rating
Political Rights: 7
Civil Liberties: 6 (2017)

(1 represents the most free, 7 the least free rating)
Total telephone subscribers as % of population
Fixed 13.71% Mobile 53.10% (2015)
(fixed-telephone subscribers and mobile-cellular subscribers)
Internet users as % of total population 18.2% (2015)

Language & Religon

Languages Lao (official), French, English, various ethnic languages
Literacy Total population: 79.9%
Male: 87.1%
Female: 72.8% (2015 est.)

(age 15 and over can read and write)
Religions Buddhist 66.8%, Christian 1.5%, other 31%, unspecified 0.7% (2005 est.)

World Rankings

Population 7.87 M
Mercer Cost of living index N/A
C02 Emissions per capita 0.3 (2010)

Global Finance Rankings & Awards: Laos

Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.


Data Sources:

IMF World Economic Outlook

UN World Population Prospects

World Inequality Report

S&P Global Ratings

Moody’s

Fitch Ratings

IMF Direction of Trade Statistics (DOTS)

UN Conference on Trade and Development (UNCTAD)

CIA The World Factbook

World Bank’s World Integrated Trade Solution

Forbes Global 2000

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