Laos: Economy
|
Income Level (by per capita GNI) Source: The World Bank Possible values: High Income, Upper Middle Income, Lower Middle Income and Low Income |
Lower Middle Income |
|
Level of Development
Source: United Nations Possible values: Developed, In Transition and Developing |
Data unavailable |
| Economic Trivia | Laos' economy is heavily dependent on capital-intensive natural resource exports. |
|
Trade
Source: United Nations Comtrade Note: Top 3 trade partners are calculated by imports + exports. |
Top 3 Trade Partners (2021): Thailand, China, and Vietnam |
| Top Industries Source: CIA World Factbook | Mining (Copper, Tin, Gold, Gypsum); Timber; Electric Power; Agricultural Processing |
Gross Domestic Product (GDP) [1]
| GDP, PPP (current international) | $70,658,593,947 (2022) |
| GDP Growth Rate (annual %) | 2.707% (2022) |
| GDP Per Capita, PPP (current international) | $9,384 (2022) |
GDP Country Rank 107/197 (2022)
Economic Indicators [1]
| Inflation, consumer prices (annual %) | 22.956% (2022) |
| External debt stocks, total (DOD, current US$) | $17,187,857,262 (2021) |
| Total tax rate (% of commercial profits) | 24.1% (2019) |
| Real Interest Rate (5 year average %) | 12.286% (2010) |
| Manufacturing, value added (% of GDP) | 8.663% (2022) |
| Current Account Balance (BoP, current US$) | $446,571,770 (2021) |
Labor and Employment [1]
| Labor Force, Total | 3,073,466 (2022) |
| Employment in Agriculture (% of total employment) | 58.091% (2021) |
| Employment in Industry (% of total employment) | 10.767% (2021) |
| Employment in Services (% of total employment) | 31.142% (2021) |
| Unemployment Rate | 2.633% (2022) |
Trade [1]
| Imports of goods and services (current US$) | $6,991,688,265 (2017) |
| Exports of goods and services (current US$) | $5,787,433,703 (2017) |
| Total Merchandise Trade (% of GDP) | 97.142% (2022) |
| FDI, net inflows (BoP, current US$) | $528,224,850 (2022) |
| Commercial Service Exports (current US$) | $124,902,415 (2021) |
Economic Snapshot [1]
Note: Percentile ranks are calculated using the latest available data for all countries within the last 5 years.
How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, Laos’s Exports rank is higher than (please wait...) of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.