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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 2021 was at about 12.259 USD per capita. GDP in Laos, on the other hand, reached USD 2.551 per capita, or 18.83 billion USD in the whole country. Laos is one of the smaller economies and is currently ranked 119. 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 117.
Inflation in Laos was in 2021 at around 3.76%. Within the EU, the average in the same year was 2.55%. In the United States, it was most recently 4.70%.
Compared with the USA, prices for daily consumer goods are around 66.5% 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

Overall, the gross domestic product in Laos in 2020 increased from 18.74 billion US Dollar to 18.98 billion US Dollar. Certainly, there have been shifts in numerous sectors of the economy, but a 1.3 percent increase has been rather unusual this year. While most countries have suffered significant losses, Laos has certainly held its own. The tourism sector alone slumped by around 77 percent. The unemployment rate rose from 0.9 to 1.0 percent. The consumer inflation rate has risen from 3.3% previously to 5.1% now.

Unemployment rates in percent 1991 - 2021

Economic performance 2021

 Laos
Total
Laos
per capita
EU
Total
EU
per capita
GDP18.83 bn USD2,551.33 USD17.09 tn USD33,228.68 USD
Gross national product18.58 bn USD2,518.18 USD16.78 tn USD32,621.03 USD

Development of the Gross domestic product in billion US Dollar 1984 - 2021



Im- and Exports 2020

 Laos
Total
Laos
per capita
EU
Total
EU
per capita
Imports5.82 bn USD788.13 USD8,916.24 bn USD17,337.55 USD
Exports6.46 bn USD875.57 USD9,554.34 bn USD18,578.33 USD

Development of imports and exports in millions of USD 1984 - 2020
Exports
Imports

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