GDP Annual Growth Rate in Laos decreased to 0.20 percent in 2020 from 5.20 percent in 2019. source: Bank of the Lao PDR

GDP Annual Growth Rate in Laos averaged 6.67 percent from 1989 until 2020, reaching an all time high of 9.90 percent in 1989 and a record low of 0.20 percent in 2020. This page provides - Laos GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Laos GDP Annual Growth Rate - values, historical data and charts - was last updated on June of 2021.

GDP Annual Growth Rate in Laos is expected to reach 4.50 percent by the end of 2021, according to Trading Economics global macro models and analysts expectations. In the long-term, the Laos GDP Annual Growth Rate is projected to trend around 6.50 percent in 2022, according to our econometric models.

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Laos GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.20 5.20 9.90 0.20 1989 - 2020 percent Yearly

Laos GDP Last Previous Highest Lowest Unit
GDP Annual Growth Rate 0.20 5.20 9.90 0.20 percent [+]
GDP 18.17 17.95 18.17 0.60 USD Billion [+]
GDP per capita 1840.50 1785.60 1840.50 401.60 USD [+]
GDP per capita PPP 7826.40 7592.80 7826.40 1964.60 USD [+]
GDP Constant Prices 129726.00 123903.00 129726.00 81610.00 LAK Billion [+]
GDP From Agriculture 18194.00 17975.00 18194.00 15137.00 LAK Billion [+]
GDP From Construction 11936.00 9864.00 11936.00 4264.00 LAK Billion [+]
GDP From Manufacturing 10622.00 9952.00 10622.00 7331.00 LAK Billion [+]
GDP From Mining 9885.00 9891.00 11052.00 9379.00 LAK Billion [+]
GDP From Public Administration 7695.00 7480.00 7695.00 6063.00 LAK Billion [+]
GDP From Services 52409.00 49044.00 52409.00 32768.00 LAK Billion [+]
GDP From Transport 1944.00 1798.00 1944.00 1148.00 LAK Billion [+]
GDP From Utilities 14150.00 14411.00 14411.00 5497.00 LAK Billion [+]

Laos GDP Annual Growth Rate
Laos is one of the poorest countries in the world. Still a communist state, in recent years Laos opened its economy to private initiative and foreign direct investments. As a result, Laos started to exploit its hydropower, precious metals and wood resources. The country is heavily dependent on agriculture (33 percent of GDP) as it employs around 80 percent of the population. Tourism (11 percent of GDP) is the second largest earner of foreign currency and is growing rapidly. In spite of the recent developments, the government relies extensively on foreign aid to fund its budget and infrastructure development.