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Indicators of economy in Laos

The essential economic performance of a country is reflected by the gross domestic product. So the total of all goods and services sold. Worldwide gross domestic product in 2020 was at about 10.906 US Dollar per capita. In contrast, the GDP in Laos reached 2.630 US dollars per inhabitant, or 19.13 bn US Dollar in the whole country. Laos is one of the smaller economies and is currently ranked 115. If this is calculated per inhabitant taking into account the purchasing power parity, then Laos is in the list of the world's richest countries in place 125.

Inflation in Laos was in 2020 at around 5.10%. For the the EU, the average of the same was year at 0.50%. In the United States, it was most recently 1.23%.

Compared with the USA, prices for daily consumer goods are around 63.7% lower.
The Corruption Perceptions Index for the public sector counts 67 and is compared to other countries moderate.


Back to overview: Laos

Impact of the Covid-19 pandemic in 2020

Overall, the gross domestic product in Laos in 2020 increased from 18.90 billion US Dollar to 19.13 billion US Dollar. Certainly, there have been shifts in numerous sectors of the economy, but a 1.2 percent increase has been rather unusual this year. While most countries have suffered significant losses, Laos has certainly held its own. The unemployment rate rose from 0.6 to 1.0 percent. The consumer inflation rate has risen from 3.3% previously to 5.1% now.

Unemployment rates in percent 1991 - 2020

Economic performance 2020

 Laos
Total
Laos
per capita
EU
Total
EU
per capita
GDP19.13 bn USD2,629.71 USD15,292.10 tn USD29,692.44 USD
Gross national product18.32 bn USD2,518.65 USD15,330.18 tn USD29,766.38 USD


Development of the Gross domestic product in billion US Dollar 1984 - 2020



Im- and Exports 2020

 Laos
Total
Laos
per capita
EU
Total
EU
per capita
Imports7.52 bn USD1,033.35 USD7,314.16 bn USD14,201.79 USD
Exports6.99 bn USD960.09 USD7,834.94 bn USD15,212.97 USD


Development of imports and exports in million US dollars 1984 - 2020

Exports
Imports



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