Laos GDP Annual Growth Rate
The Gross Domestic Product (GDP) in Laos expanded 7.60 percent in 2013 from the previous year. GDP Annual Growth Rate in Laos averaged 7.07 Percent from 1989 until 2013, reaching an all time high of 14.30 Percent in 1989 and a record low of 4 Percent in 1991. GDP Annual Growth Rate in Laos is reported by the Bank of the Lao PDR.
||1989 - 2013
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. This page provides - Laos GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.