Economy of Laos
Population: 7.06 M (2018)
GDP per Capita: 2,542 USD (2018)
17,950 M.

GDP USD

(2018)

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5,250 M.

EXPORTS USD

(2016)

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6,620 M.

IMPORTS USD

(2016)

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55.80 %

PUBLIC DEBT

(2017)

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Data is provided by World Bank, FMI and Central Banks.

GDP and Economic Growth

Indicator Value
Economic Growth 6.25 % (2018)
GDP of 2010 USD USD 12.60 B. (2018)
GDP Current USD USD 17.95 B. (2018)
GDP per Capita Current USD USD 2,542 (2018)
GDP per capita, PPP USD 6,601 (2018)
GDP per Capita, 2010 USD USD 1,786 (2018)

Government spending and balances

Indicator Value
Government Spending % GDP 13.97 % (2016)
Government Spending USD 2.21 B. (2016)
Government Debt % GDP 55.80 % (2017)

International Trade and Investment

Indicator Value
Terms of Trade Base Year 2000 99.68 (2018)
Trade Openness 75.09 % (2016)
Exports of Goods and Services % GDP 33.21 % (2016)
Exports Goods & Services USD 5.25 B. (2016)
Exports Annual Growth 10.46 % (2016)
Imports as % GDP 41.88 % (2016)
Total Imports USD 6.62 B. (2016)
Foreign Direct Investment % GDP 7.35 % (2018)
Foreign Direct Investment USD 1.32 B. (2018)
Current Account Balance % GDP USD -7.97 % (2018)
Current Account Balance USD -1.43 B. (2018)
Trade Balance % GDP % (2018)
Trade Balance USD -1.10 B. (2018)
Foreign Exchange Reserves incl Gold USD 0.98 B. (2018)
Remittances % GDP 1.33 % (2018)
Remittances USD 118 M. (2018)
Balance of Payments USD 120 M. (2014)

Labor Market

Indicator Value
Labor Force 3.80 M. (2019)
Unemployment Rate 0.57 % (2019)
Unemployment Rate Females 0.57 % (2019)
Unemployment Rate Males 0.68 % (2019)
Youth Unemployment (ages 15-24) 1.57 % (2019)
Labor Force Participation Rate 78.29 % (2019)
Labor Force (Percent Female) 49.04 % (2019)
Female Labor Force Participation Rate 76.82 % (2019)
Male Labor Force Participation Rate 79.79 % (2019)
Dependent People 57.93 % (2018)

Agriculture Sector

Indicator Value
Forest Area 82.10 % (2016)
Forest Area km² 189,506 km² (2016)
Agricultural Land 10.26 % (2016)
Agricultural Land km² 23,690 km² (2016)
Employment 67.69 % (2019)
Value added % GDP 15.71 % (2018)
Agriculture Value added USD 2.82 B. (2018)
Crop Production Index 241.10 (2016)
Precipitation 1,834 mm (2014)
Arable Land 7 % (2016)
Cereal Yield 4,498 kg/hectare (2017)
Food production index 211 (2016)
Rural Population 65 % (2018)
Fertilizer use of Arable Land 211 (2016)
Livestock Production Index 126 (2016)
Economy of Laos

According to the World Bank and its latest published data, the economy of the Laos presents a growth rate of 6.25 % (2018) to the previous year.

With a population that reaches 7.06 M (2018) and a gross domestic product of USD 17.95 B. (2018), it translates a Gross Domestic Product per Capita of USD 2,542 placing its inhabitants on the threshold of an Lower middle income country (according to the World Bank's updated classification).

Laos also has a workforce of 3.80 M. (2019) with an unemployment rate of 0.57 % (2019), where women represent 0.57 % (2019) and men 0.68 % (2019), the unemployment rate for young people between 15-24 years old stood at 1.57 % (2019). The total number of dependent people stands at 57.93 % (2018).

The central government spent 13.97 % (2016) of its gross domestic product that year, which in absolute terms is USD 2.21 B. (2016). Its consolidated public debt reached 55.80 of its GDP, exceeding the 35% risk limit used by the European Union.

Regarding its international trade, Laos exported USD 5.25 B. (2016), which represents 33.21 % (2016) of its gross domestic product, in that same sense its imports reached USD 6.62 B. (2016) with a direct foreign investment of USD 1.32 B. (2018).

Laos has a forest area of 189,506 km² (2016), which represents 82.10 % (2016) of its total area, an average rainfall of 1,834 mm (2014) per year and a population of 65 % (2018) living in rural areas. With a total area of 23,690 km² (2016) available for agriculture and 67.69 % (2019) of its employments, the agricultural sector contributes to the economy of the Laos about USD 2.82 B. (2018) (15.71 % (2018) of its GDP).