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 10.912 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 2021 at around 3.76%. Within the EU, the average in the same year was 2.62%. 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 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 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 2020
Laos Total | Laos per capita | EU Total | EU per capita | |
---|---|---|---|---|
GDP | 19.13 bn USD | 2,629.71 USD | 15,291.93 tn USD | 29,710.69 USD |
Gross national product | 18.32 bn USD | 2,518.65 USD | 15,330.84 tn USD | 29,786.28 USD |
Development of the Gross domestic product in billion US Dollar 1984 - 2020
› Debt budget development
› Development of inflation
› Corruption in Laos
› Cost of living in a global comparison
› Development of inflation
› Corruption in Laos
› Cost of living in a global comparison
Im- and Exports 2020
Laos Total | Laos per capita | EU Total | EU per capita | |
---|---|---|---|---|
Imports | 5.82 bn USD | 799.37 USD | 7,340.01 bn USD | 14,260.90 USD |
Exports | 6.46 bn USD | 888.06 USD | 7,939.04 bn USD | 15,424.75 USD |
Development of imports and exports in million US dollars 1984 - 2020
Exports
Imports