Name: Laos GDP Annual Growth Rate
Creator: TRADING ECONOMICS
License: https://creativecommons.org/licenses/by/4.0/
Keywords: Laos,GDP Annual Growth Rate,data,chart,actual,historical,values,calendar,forecast,graph,2024,2025,2026

The Gross Domestic Product (GDP) in Laos expanded 4.20 percent in the fourth quarter of 2023 over the same quarter of the previous year. GDP Annual Growth Rate in Laos averaged 6.54 percent from 1989 until 2023, reaching an all time high of 9.90 percent in 1989 and a record low of 3.30 percent in 2020. source: Bank of the Lao PDR

GDP Annual Growth Rate in Laos is expected to reach 4.90 percent by the end of 2024, 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 2025 and 5.00 percent in 2026, according to our econometric models.

Related	Last	Previous	Unit	Reference
GDP	15.84	15.47	USD Billion	Dec 2023
GDP Annual Growth Rate	4.20	4.40	percent	Dec 2023
GDP Constant Prices	151698.00	145574.00	LAK Billion	Dec 2023
GDP from Agriculture	20216.00	19488.00	LAK Billion	Dec 2023
GDP from Construction	16813.00	15834.00	LAK Billion	Dec 2023
GDP from Manufacturing	13560.00	12928.00	LAK Billion	Dec 2023
GDP from Mining	8791.00	8596.00	LAK Billion	Dec 2023
GDP from Public Administration	9189.00	8760.00	LAK Billion	Dec 2023
GDP from Services	58195.00	55103.00	LAK Billion	Dec 2023
GDP from Transport	2877.00	2443.00	LAK Billion	Dec 2023
GDP from Utilities	18935.00	18999.00	LAK Billion	Dec 2023
GDP per Capita	2659.72	2599.21	USD	Dec 2023
GDP per Capita PPP	8406.39	8215.13	USD	Dec 2023

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.