Laos GDP Annual Growth Rate

The Gross Domestic Product (GDP) in Laos expanded 7.93 percent in 2012 from the previous year. GDP Annual Growth Rate in Laos is reported by the Bank of the Lao PDR. GDP Annual Growth Rate in Laos averaged 7.05 Percent from 1989 until 2012, reaching an all time high of 14.30 Percent in 1989 and a record low of 4 Percent in 1991. 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. 2014-04-25

Actual Previous Highest Lowest Forecast Dates Unit Frequency
7.93 8.04 14.30 4.00 8.23 | 2014/06 1989 - 2012 Percent Yearly

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Laos GDP Annual Growth Rate
LIST BY COUNTRY

GDP Last Previous Highest Lowest Forecast Unit
GDP 9.29 2012-12-31 8.30 9.29 0.60 10.92 2014-06-30 USD Billion [+]
GDP Annual Growth Rate 7.93 2012-12-31 8.04 14.30 4.00 8.23 2014-06-30 Percent [+]
GDP per capita 707.19 2012-12-31 666.30 707.19 227.49 769.77 2014-06-30 USD [+]
GDP per capita PPP 2521.51 2012-12-31 2375.70 2521.51 811.12 2734.65 2014-06-30 USD [+]
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GDP Annual Growth Rate | Notes
The annual growth rate in Gross Domestic Product measures the increase in value of the goods and services produced by an economy over the period of a year. Therefore, unlike the commonly used quarterly GDP growth rate the annual GDP growth rate takes into account a full year of economic activity, thus avoiding the need to make any type of seasonal adjustment.


RELATED NEWS

Laos Government Budget at -12.40 Percent of GDP  
Laos recorded a Government Budget deficit equal to 12.40 percent of the country's Gross Domestic Product in 2013. Government Budget in Laos is reported by the Bank of the Lao PDR.
Laos GDP Annual Growth Rate at 7.93 Percent  
The Gross Domestic Product (GDP) in Laos expanded 7.93 percent in 2012 from the previous year. GDP Annual Growth Rate in Laos is reported by the Bank of the Lao PDR.
Laos Current Account to GDP at 2.30 Percent  
Laos recorded a Current Account surplus of 2.30 percent of the country's Gross Domestic Product in 2012. Current Account to GDP in Laos is reported by the Bank of the Lao PDR.
Laos Exports at 565.54 USD Million  
Exports in Laos increased to 565.54 USD Million in the second quarter of 2013 from 525.44 USD Million in the first quarter of 2013. Exports in Laos is reported by the Bank of the Lao PDR.
Laos Inflation Rate at 5.66 Percent  
The inflation rate in Laos was recorded at 5.66 percent in February of 2014. Inflation Rate in Laos is reported by the Bank of the Lao PDR.
Laos Personal Income Tax Rate at 24.00 percent  
The Personal Income Tax Rate in Laos stands at 24 percent. Personal Income Tax Rate in Laos is reported by the Ministry of Finance.
Laos Corporate Tax Rate at 24.00 percent  
The Corporate Tax Rate in Laos stands at 24 percent. Corporate Tax Rate in Laos is reported by the Ministry of Finance.
Laos Sales Tax Rate | VAT at 10.00 Percent  
The Sales Tax Rate in Laos stands at 10 percent. Sales Tax Rate in Laos is reported by the Ministry of Finance.
Laos Government Debt To GDP at 33.43 Percent  
Laos recorded a Government Debt to GDP of 33.43 percent of the country's Gross Domestic Product in 2012. Government Debt To GDP in Laos is reported by the Bank of the Lao PDR.
Laos Balance of Trade at -83.26 USD Million  
Laos recorded a trade deficit of 83.26 USD Million in the second quarter of 2013. Balance of Trade in Laos is reported by the Bank of the Lao PDR.
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