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 |
Laos
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