Laos (Lao People's Democratic Republic) Economic Statistics and Indicators

21, Nov 2018, EST. Welcome to the Laos economic statistics pages provided by the beta version of EconomyWatch.com's Econ Stats database.

Economic Indicators For: Laos (Lao People's Democratic Republic) › Change country
National or Regional Currency: Kip, LAK
Year of data: 2015 › Change year
Number of Indicators Listed: 34
Full Dataset: From Year 1980 to 2019
Date of Last Update: 17th March 2015
Population: 6,803,699 (July 2014 est.)
Area: total: 236,800 sq km ; land: 230,800 sq km ; water: 6,000 sq km
Natural Resources: timber, hydropower, gypsum, tin, gold, gemstones
Capital: name: Vientiane (Viangchan) ; geographic coordinates: 17 58 N, 102 36 E ; time difference: UTC+7 (12 hours ahead of Washington, DC, during Standard Time)

The government of Laos, one of the few remaining one-party communist states, began decentralizing control and encouraging private enterprise in 1986. The results, starting from an extremely low base, were striking - growth averaged 6% per year from 1988-2008 except during the short-lived drop caused by the Asian financial crisis that began in 1997. Laos' growth exceeded 7% per year during 2008-13. Despite this high growth rate, Laos remains a country with an underdeveloped infrastructure, particularly in rural areas. It has a basic, but improving, road system, and limited external and internal land-line telecommunications. Electricity is available in 83 % of the country. Laos' economy is heavily dependent on capital-intensive natural resource exports. The labor force, however, still relies on agriculture, dominated by rice cultivation in lowland areas, which accounts for about 25% of GDP and 73% of total employment. Economic growth has reduced official poverty rates from 46% in 1992 to 26% in 2010. The economy also has benefited from high-profile foreign direct investment in hydropower, copper and gold mining, logging, and construction though some projects in these industries have drawn criticism for their environmental impacts. Laos gained Normal Trade Relations status with the US in 2004 and applied for Generalized System of Preferences trade benefits in 2013 after being admitted to the World Trade Organization earlier in the year. Laos is in the process of implementing a value-added tax system. Simplified investment procedures and expanded bank credits for small farmers and small entrepreneurs will improve Laos' economic prospects. The government appears committed to raising the country's profile among investors, but suffered through a fiscal crisis in 2013 brought about by public sector wage increases, fiscal mismanagement, and revenue shortfalls. The World Bank has declared that Laos' goal of graduating from the UN Development Program's list of least-developed countries by 2020 is achievable, and the country is preparing to enter the ASEAN Economic Community in 2015.
More on the Laos Economy
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Economic Indicator Listing
  For Laos in year 2015 Indicator Value
GDP Growth (Constant Prices, National Currency) 7.01 %
GDP (Current Prices, National Currency)LAK 102,070.82 Billion.
GDP (Current Prices, US Dollars)US$ 12.503 Billion
GDP Deflator 223.959 (Index, Base Year as per country's accounts = 100)
GDP Per Capita (Constant Prices, National Currency)LAK 6,483,573.07 .
GDP Per Capita (Current Prices, National Currency)LAK 14,520,517.26 .
GDP Per Capita (Current Prices, US Dollars)US$ 1,778.71
GDP (PPP), US DollarsUS$ 37.322 Billion
GDP Per Capita (PPP), US DollarsUS$ 5,309.41
GDP Share of World Total (PPP) 0.033 %
Implied PPP Conversion Rate 2,734.87
Inflation, Average Consumer Prices (Indexed to Year 2000) 163.682 (Index, Base Year 2000 = 100)
Inflation (Average Consumer Price Change %) 5.3 %
Inflation, End of Year (Indexed to Year 2000) 167.078 (Index, Base Year 2000 = 100)
Inflation (End of Year Change %) 5.5 %
Import Volume of All Items Including Goods and Services (Percent Change) -0.952 %
Import Volumes of Goods Only (Percent Change) -1.374 %
Export Volume of All Items Including Goods and Services (Percent Change) 6.652 %
Export Volumes of Goods Only (Percent Change) 7.103 %
Population 7.029 Million
General government revenue (National Currency)LAK 23,291.49 Billions.
General government revenue (% of GDP) 23.273 %
General government total expenditure (National Currency)LAK 26,201.35 Billions.
General government total expenditure (% of GDP) 26.181 %
Total Government Net Lending/ Borrowing (National Currency)LAK -2,909.85 Billions.
Total Government Net Lending/ Borrowing (% of GDP) -2.908 %
Fiscal Year Gross Domestic Product, Current PricesLAK 100,079.39 Billions.
Current Account Balance (US Dollars)US$ -2.905 Billion
Current Account Balance (% GDP) -23.235 %
Economic Indicators for Laos 2015

GDP (Constant Prices, National Currency) for Laos in year 2015 is LAK 45,575.76 Billion.

GDP Growth (Constant Prices, National Currency) for Laos in year 2015 is 7.01 %.

GDP (Current Prices, National Currency) for Laos in year 2015 is LAK 102,070.82 Billion.

GDP (Current Prices, US Dollars) for Laos in year 2015 is US$ 12.503 Billion.

GDP Deflator for Laos in year 2015 is 223.959 (Index, Base Year as per country's accounts = 100).

GDP Per Capita (Constant Prices, National Currency) for Laos in year 2015 is LAK 6,483,573.07 .

GDP Per Capita (Current Prices, National Currency) for Laos in year 2015 is LAK 14,520,517.26 .

GDP Per Capita (Current Prices, US Dollars) for Laos in year 2015 is US$ 1,778.71 .

GDP (PPP), US Dollars for Laos in year 2015 is US$ 37.322 Billion.

GDP Per Capita (PPP), US Dollars for Laos in year 2015 is US$ 5,309.41 .

GDP Share of World Total (PPP) for Laos in year 2015 is 0.033 %.

Implied PPP Conversion Rate for Laos in year 2015 is 2,734.87 .

Inflation, Average Consumer Prices (Indexed to Year 2000) for Laos in year 2015 is 163.682 (Index, Base Year 2000 = 100).

Inflation (Average Consumer Price Change %) for Laos in year 2015 is 5.3 %.

Inflation, End of Year (Indexed to Year 2000) for Laos in year 2015 is 167.078 (Index, Base Year 2000 = 100).

Inflation (End of Year Change %) for Laos in year 2015 is 5.5 %.

Import Volume of All Items Including Goods and Services (Percent Change) for Laos in year 2015 is -0.952 %.

Import Volumes of Goods Only (Percent Change) for Laos in year 2015 is -1.374 %.

Export Volume of All Items Including Goods and Services (Percent Change) for Laos in year 2015 is 6.652 %.

Export Volumes of Goods Only (Percent Change) for Laos in year 2015 is 7.103 %.

Population for Laos in year 2015 is 7.029 Million .

General government revenue (National Currency) for Laos in year 2015 is LAK 23,291.49 Billions.

General government revenue (% of GDP) for Laos in year 2015 is 23.273 %.

General government total expenditure (National Currency) for Laos in year 2015 is LAK 26,201.35 Billions.

General government total expenditure (% of GDP) for Laos in year 2015 is 26.181 %.

Total Government Net Lending/ Borrowing (National Currency) for Laos in year 2015 is LAK -2,909.85 Billions.

Total Government Net Lending/ Borrowing (% of GDP) for Laos in year 2015 is -2.908 %.

Fiscal Year Gross Domestic Product, Current Prices for Laos in year 2015 is LAK 100,079.39 Billions.

Current Account Balance (US Dollars) for Laos in year 2015 is US$ -2.905 Billion.

Current Account Balance (% GDP) for Laos in year 2015 is -23.235 %.

* Source: IMF
Aggregate Indicators for Laos
Indicators
  Geography (Location, geographic coordinates, map references, area, terrain, elevation extremes, borders, coastline and maritime claims) for Laos
  Climate and Environment (climate, environmental issues, environmental agreements, natural hazards) for Laos
  Natural Resources, Agricultural Products, Land Use and Water Use for Laos
  Nationality, Ethnic Groups, Languages and Religions for Laos
  Telephone Statistics: Number of Fixed Lines, Mobile Phone Penetration Rate for Laos
  Age Structure, Median Age, Gender and Urbanization for Laos
  Population Growth Rate, Birth Rate, Death Rate, Net Migration Rate for Laos
  Life Expectancy Rate, Infant Mortality Rate and Total Fertility Rate for Laos
  HIV, AIDS and Other Major Infectious Disease Rates for Laos
  Literacy Rate, Educational Expenditure and School Life Expectancy for Laos
  Gross Domestic Product (PPP, Official Exchange Rate, Real Growth Rate and Per Capita) for Laos
  Industries and Industrial Growth Production Rate for Laos
  Labor Force by Occupation for Laos
  Poverty Line, Gini Index, Household Income and Consumption for Laos
  National Budget and Public Debt for Laos
  Bank Rates (Commercial Bank Prime Lending Rate, Central Bank Discount Rate) for Laos
  Stock of Money, Stock of Quasi Money, Stock of Domestic Credit for Laos
  Stock Market Capitalization: Market Value of Publicly Traded Shares for Laos
  Trade Statistics, Export Statistics, Export Partners and Products, Import Statistics, Import Partners and Products for Laos
  Foreign Exchange Reserves and Gold Reserves for Laos
  FDI Statistics (Foreign Direct Investment at Home/ Inbound FDI, Foreign Direct Investment Abroad/ Outbound FDI) for Laos
  Exchange Rate Statistics for Laos
  Electricity Production, Electricity Consumption, Electricity Exports and Electricity Imports for Laos
  Oil Production, Proven Oil Reserves, Oil Consumption, Oil Exports and Oil Imports for Laos
  Natural Gas Production, Proven Natural Gas Reserves, Natural Gas Consumption, Natural Gas Exports and Natural Gas Imports for Laos
  Television and Radio Statistics (TV Stats, Radio Stats) for Laos
  Internet Statistics (Internet Users, Internet Hosts, Country TLD) for Laos
  Airport Statistics (Paved Runway Airports, Unpaved Runway Airports, Heliports) for Laos
  Transport Statistics (Railways, Roadways, Waterways, Ports and Terminals, Airports, Merchant Marine) for Laos
  Military Statistics (Military Expenditure, Military Branches, Service Age and Obligation, Manpower Available and Fit for Military Service) for Laos
  Disputes, Refugees, Human Trafficking and Illicit Drug Production for Laos
* Source: CIA
Internet Indicators for Laos
Indicators
  Number of Internet Users for Laos
  Internet Penetration Rate for Laos
  Number of Facebook Accounts for Laos
  Facebook Penetration Rate for Laos
* Source: IWS
Economic Freedom Indicators for Laos
Indicators
  Economic Freedom World Rank for Laos
  Government Spending for Laos
  Monetary Freedom for Laos
  Investment Freedom for Laos
  Financial Freedom for Laos
  Property Rights for Laos
  Economic Freedom Regional Ranking for Laos
  Freedom from Corruption for Laos
  Labor Freedom for Laos
  Tariff Rate for Laos
  Income Tax Rate for Laos
  Corporate Tax Rate for Laos
  Tax Burden % of GDP for Laos
  Government Expenditure % of GDP for Laos
  Business Freedom for Laos
  Trade Freedom for Laos
  Fiscal Freedom for Laos
  2016 Score for Laos
* Source: HFO
Laos Economic Indicators in other Years
  Laos Economic Indicators for Year 2021 (Forecast)
  Laos Economic Indicators for Year 2020 (Forecast)
  Laos Economic Indicators for Year 2019 (Forecast)
  Laos Economic Indicators for Year 2018 (Forecast)
  Laos Economic Indicators for Year 2017 (Forecast)
  Laos Economic Indicators for Year 2016 (Forecast)
Laos Economic Indicators for Year 2015 (Current)
  Laos Economic Indicators for Year 2014
  Laos Economic Indicators for Year 2013
  Laos Economic Indicators for Year 2012
  Laos Economic Indicators for Year 2011
  Laos Economic Indicators for Year 2010
  Laos Economic Indicators for Year 2009
  Laos Economic Indicators for Year 2008
  Laos Economic Indicators for Year 2007
  Laos Economic Indicators for Year 2006
  Laos Economic Indicators for Year 2005
  Laos Economic Indicators for Year 2004
  Laos Economic Indicators for Year 2003
  Laos Economic Indicators for Year 2002
  Laos Economic Indicators for Year 2001
  Laos Economic Indicators for Year 2000
  Laos Economic Indicators for Year 1999
  Laos Economic Indicators for Year 1998
  Laos Economic Indicators for Year 1997
  Laos Economic Indicators for Year 1996
  Laos Economic Indicators for Year 1995
  Laos Economic Indicators for Year 1994
  Laos Economic Indicators for Year 1993
  Laos Economic Indicators for Year 1992
  Laos Economic Indicators for Year 1991
  Laos Economic Indicators for Year 1990
  Laos Economic Indicators for Year 1989
  Laos Economic Indicators for Year 1988
  Laos Economic Indicators for Year 1987
  Laos Economic Indicators for Year 1986
  Laos Economic Indicators for Year 1985
  Laos Economic Indicators for Year 1984
  Laos Economic Indicators for Year 1983
  Laos Economic Indicators for Year 1982
  Laos Economic Indicators for Year 1981
  Laos Economic Indicators for Year 1980


Data Sources: IMF, World Bank, UN, OECD, CIA World Factbook, Internet World Statistics, The Heritage Foundation and Transparency International