Countries
Laos
Key Economic Indicators
$75.96 billion
$9,776
4.13%
23.13%
1.19%
$16.503 billion (2024 est.)
58.4% of GDP (2016 est.)
$531.37 million
Economic Overview
lower middle-income, industrial Southeast Asian economy; high inflation due to 2022 currency depreciation brought on by persistently high debt; new Laos-China railway and dry port; rising inequities; ongoing labor shortages
All Economic Data
Agricultural products
cassava, root vegetables, rice, sugarcane, vegetables, bananas, maize, rubber, coffee, watermelons (2023)
note:
<b>note:</b> top ten agricultural products based on tonnage
Average household expenditures
On alcohol and tobacco:
7.8% of household expenditures (2023 est.)
On food:
50.5% of household expenditures (2023 est.)
Budget
Expenditures:
$2.259 billion (2022 est.)
Note:
<b>note:</b> central government revenues and expenses (excluding grants/extrabudgetary units/social security funds) converted to US dollars at average official exchange rate for year indicated
Revenues:
$2.288 billion (2022 est.)
Currency
code:
LAK
name:
Lao kip (LAK) [₭]
Current account balance
$531.37 million
Current account balance 2021:
$431.636 million (2021 est.)
Current account balance 2022:
-$458.754 million (2022 est.)
Current account balance 2023:
$404.523 million (2023 est.)
Note:
<b>note:</b> balance of payments - net trade and primary/secondary income in current dollars
Debt - external
$17.84 billion
Debt - external 2023:
$9.619 billion (2023 est.)
Note:
<strong>note:</strong> present value of external debt in current US dollars
Exchange rates
Currency:
kips (LAK) per US dollar -
Exchange rates 2019:
8,679.409 (2019 est.)
Exchange rates 2020:
9,045.788 (2020 est.)
Exchange rates 2021:
9,697.916 (2021 est.)
Exchange rates 2022:
14,035.227 (2022 est.)
Exchange rates 2023:
17,688.874 (2023 est.)
Exports
Exports 2021:
$7.82 billion (2021 est.)
Exports 2022:
$8.604 billion (2022 est.)
Exports 2023:
$9.698 billion (2023 est.)
Note:
<b>note:</b> balance of payments - exports of goods and services in current dollars
Exports - commodities
electricity, fertilizers, gold, garments, paper (2023)
note:
<b>note:</b> top five export commodities based on value in dollars
Exports - partners
China 39%, Thailand 34%, Australia 4%, USA 4%, Cambodia 2% (2023)
note:
<b>note:</b> top five export partners based on percentage share of exports
Foreign direct investment
net inflows:
$988.46 million
GDP - composition, by end use
Exports of goods and services:
33.2% (2016 est.)
Government consumption:
14% (2016 est.)
Household consumption:
65.7% (2016 est.)
Imports of goods and services:
-41.9% (2016 est.)
Investment in fixed capital:
29% (2016 est.)
Investment in inventories:
0% (2016 est.)
Note:
<strong>note:</strong> figures may not total 100% due to rounding or gaps in data collection
GDP - composition, by sector of origin
Agriculture:
16.8% (2024 est.)
Industry:
29% (2024 est.)
Note:
<b>note:</b> figures may not total 100% due to non-allocated consumption not captured in sector-reported data
Services:
43.5% (2024 est.)
GDP (official exchange rate)
$16.503 billion (2024 est.)
note:
<b>note:</b> data in current dollars at official exchange rate
GDP per capita (nominal)
$2,124
Gini Index coefficient - distribution of family income
38.8 (2018)
Gini Index coefficient - distribution of family income 2018:
38.8 (2018 est.)
Note:
<b>note:</b> index (0-100) of income distribution; higher values represent greater inequality
GNI (gross national income)
$15.46 billion
GNI per capita
$2,000
Household income or consumption by percentage share
Highest 10%:
31.2% (2018 est.)
Lowest 10%:
3% (2018 est.)
Note:
<b>note:</b> % share of income accruing to lowest and highest 10% of population
Imports
Imports 2021:
$6.527 billion (2021 est.)
Imports 2022:
$7.983 billion (2022 est.)
Imports 2023:
$8.596 billion (2023 est.)
Note:
<b>note:</b> balance of payments - imports of goods and services in current dollars
Imports - commodities
refined petroleum, cars, raw sugar, plastic products, trucks (2023)
note:
<b>note:</b> top five import commodities based on value in dollars
Imports - partners
Thailand 58%, China 36%, Japan 1%, Singapore 1%, Germany 1% (2023)
note:
<b>note:</b> top five import partners based on percentage share of imports
Industrial production growth rate
3.9% (2024 est.)
note:
<b>note:</b> annual % change in industrial value added based on constant local currency
Industries
mining (copper, tin, gold, gypsum); timber, electric power, agricultural processing, rubber, construction, garments, cement, tourism
Inflation rate (consumer prices)
23.13%
Inflation rate (consumer prices) 2022:
23% (2022 est.)
Inflation rate (consumer prices) 2023:
31.2% (2023 est.)
Inflation rate (consumer prices) 2024:
23.1% (2024 est.)
Note:
<b>note:</b> annual % change based on consumer prices
Labor force
3.585 million (2024 est.)
note:
<b>note:</b> number of people ages 15 or older who are employed or seeking work
total:
3.65 million persons
Labor force - by occupation
agriculture:
68.6%
industry:
7.41%
services:
23.99%
Population below poverty line
18.3% (2018 est.)
note:
<b>note:</b> % of population with income below national poverty line
Public debt
Public debt 2016:
58.4% of GDP (2016 est.)
Real GDP (purchasing power parity)
$75.96 billion
Note:
<b>note:</b> data in 2021 dollars
Real GDP (purchasing power parity) 2022:
$61.856 billion (2022 est.)
Real GDP (purchasing power parity) 2023:
$64.173 billion (2023 est.)
Real GDP (purchasing power parity) 2024:
$66.905 billion (2024 est.)
Real GDP growth rate
4.13%
Note:
<b>note:</b> annual GDP % growth based on constant local currency
Real GDP growth rate 2022:
2.7% (2022 est.)
Real GDP growth rate 2023:
3.7% (2023 est.)
Real GDP growth rate 2024:
4.3% (2024 est.)
Real GDP per capita
$9,776
Note:
<b>note:</b> data in 2021 dollars
Real GDP per capita 2022:
$8,200 (2022 est.)
Real GDP per capita 2023:
$8,400 (2023 est.)
Real GDP per capita 2024:
$8,600 (2024 est.)
Remittances
$246.59 million
Note:
<b>note:</b> personal transfers and compensation between resident and non-resident individuals/households/entities
Remittances 2021:
1.2% of GDP (2021 est.)
Remittances 2022:
1.5% of GDP (2022 est.)
Remittances 2023:
1.8% of GDP (2023 est.)
Reserves of foreign exchange and gold
$1.77 billion
Note:
<b>note:</b> holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars
Reserves of foreign exchange and gold 2021:
$1.951 billion (2021 est.)
Reserves of foreign exchange and gold 2022:
$1.576 billion (2022 est.)
Reserves of foreign exchange and gold 2023:
$1.77 billion (2023 est.)
Revenue (excl grants)
14 % of GDP
Tax revenue
12 % of GDP
Taxes and other revenues
12.1% (of GDP) (2022 est.)
note:
<strong>note:</strong> central government tax revenue as a % of GDP
Unemployment rate
1.19%
Note:
<b>note:</b> % of labor force seeking employment
Unemployment rate 2022:
1.3% (2022 est.)
Unemployment rate 2023:
1.2% (2023 est.)
Unemployment rate 2024:
1.3% (2024 est.)
Youth unemployment rate (ages 15-24)
Female:
2.1% (2024 est.)
Male:
2.4% (2024 est.)
Note:
<b>note:</b> % of labor force ages 15-24 seeking employment
Total:
2.2% (2024 est.)
World Bank Indicators
Currency
Lao kip (LAK) (2025)
Gini Index
38.80 (2018)
Languages
Lao (2025)
Economic Rankings
Inflation Rate
#22
External Debt
#50
Gini Index
#73
GDP (PPP)
#110
Exports
#118
GDP Growth Rate
#118
Reserves
#128
Imports
#129
GDP per Capita
#130
GDP (Nominal)
#136
Unemployment Rate
#173
Quick Facts
Industries
mining (copper, tin, gold, gypsum); timber, electric power, agricultural processing, rubber, construction, garments, cement, tourism
Agricultural products
cassava, root vegetables, rice, sugarcane, vegetables, bananas, maize, rubber, coffee, watermelons (2023)
Labor force
3.585 million (2024 est.)
Exports - partners
China 39%, Thailand 34%, Australia 4%, USA 4%, Cambodia 2% (2023)
Imports - partners
Thailand 58%, China 36%, Japan 1%, Singapore 1%, Germany 1% (2023)
Exchange rates
kips (LAK) per US dollar -
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