The Gross Domestic Product (GDP) in Laos expanded 4.70 percent in 2019 from the previous year.

GDP Annual Growth Rate in Laos averaged 6.87 percent from 1989 until 2019, reaching an all time high of 9.90 percent in 1989 and a record low of 4 percent in 1991. 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 August of 2020.

GDP Annual Growth Rate in Laos is expected to reach 0.50 percent by the end of 2020, 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 5.50 percent in 2021 and 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
4.70 6.50 9.90 4.00 1989 - 2019 percent Yearly

Laos GDP Last Previous Highest Lowest Unit
GDP Annual Growth Rate 4.70 6.50 9.90 4.00 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 18195.00 17750.00 18195.00 15137.00 LAK Billion [+]
GDP From Construction 9808.00 8046.00 9808.00 4264.00 LAK Billion [+]
GDP From Manufacturing 9817.00 9368.00 9817.00 7331.00 LAK Billion [+]
GDP From Mining 10549.00 10579.00 11052.00 9379.00 LAK Billion [+]
GDP From Public Administration 7630.00 7331.00 7630.00 6063.00 LAK Billion [+]
GDP From Services 49385.00 45926.00 49385.00 32768.00 LAK Billion [+]
GDP From Transport 1818.00 1715.00 1818.00 1148.00 LAK Billion [+]
GDP From Utilities 13890.00 12930.00 13890.00 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.