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Lao P.D.R.

Includes historical data for Lao P.D.R.’s Gross Domestic Product growth, debt-to-GDP ratio and more, as well as information on trade, banking and financial sector leadership.

Natural Resources And Trade Agreements Underpin Growth

Commonly known as Laos, the Lao People’s Democratic Republic is one of the few remaining one-party communist states. Ever since transitioning towards a more market-friendly economy in the mid-80s, the government has been encouraging private enterprise and decentralizing control, driving growth rates consistently among the fastest in Asia and fostering social development. The country’s primary strengths lie in its abundant natural resources, including minerals, agricultural commodities and forestry. Laos has also made strides in regional and international integration through its membership in ASEAN and the World Trade Organization, and the diversification of its economy into areas such as hydroelectricity, agri-food, electronics and clothing has attracted foreign investment.

Yet impediments to business initiatives persist, including a limited labor pool and a small domestic market, a fragile banking sector, high corruption levels and poor infrastructure. Furthermore, the country is sensitive to commodity price fluctuations, and vulnerable to regional economic and geopolitical conditions.

Macroeconomy & Sovereign Data

Type of Government One-party state
Capital Vientiane (Viangchan)
Sovereign Ratings S&P: Not rated
Moody’s: Caa3
Fitch: CCC–
Total Population 7.7 million
Median Age 24.4
Adult Per Capita Income (PPP) 14,645.36
Total GDP (2023) USD 14.1 billion

Lao P.D.R. GDP & Economic Overview

Most Recent Content

Banking & Finance

Trade & Investment

Total Exports USD 8.3 billion (2022)
Leading Exports Refined Petroleum
Iron Structures
Steel Products
Total Imports USD 10.2 billion (2022)
Leading Imports Electricity
Flavored Water                                                                      
Source: World Integrated Trade Solution

Lao P.D.R. Leading Companies

Banque Centrale du Laos Financials
Lao Public Bank for Foreign Trade Financials
Electricité du Laos Utilities
Lao Airlines Transportation, Airlines
Lane Xang Minerals Materials, Metals & Mining

Major Trade Partners — Import

Thailand 46.7%
China 22.6%
Vietnam 7.9%
United States 4.5%
Switzerland 4.5%

Major Trade Partners — Export

Thailand 32.2%
China 31.4%
Vietnam 17.5%
Australia 4.9%
Cambodia 1.8%

Data Sources:

IMF World Economic Outlook

UN World Population Prospects

World Inequality Report

S&P Global Ratings


Fitch Ratings

IMF Direction of Trade Statistics (DOTS)

UN Conference on Trade and Development (UNCTAD)

CIA The World Factbook

World Bank’s World Integrated Trade Solution

Forbes Global 2000