The gross domestic product (GDP) in Laos expanded 3.5 percent in 2021, following a 3.3 percent growth in the previous year. source: Bank of the Lao PDR

GDP Annual Growth Rate in Laos averaged 6.68 percent from 1989 until 2021, reaching an all time high of 9.90 percent in 1989 and a record low of 3.30 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 March of 2023.

GDP Annual Growth Rate in Laos is expected to reach 4.80 percent by the end of 2022, 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 5.00 percent in 2023, according to our econometric models.

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Laos GDP Annual Growth Rate

Related Last Previous Unit Reference
GDP Annual Growth Rate 3.50 3.30 percent Dec 2021
GDP Constant Prices 139408.00 134720.00 LAK Billion Dec 2021

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.
Actual Previous Highest Lowest Dates Unit Frequency
3.50 3.30 9.90 3.30 1989 - 2021 percent Yearly