Key data points
Last release
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Observation period
2024
Next release
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Forecast
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Highest
9.90 % on Dec 31, 1989
Lowest
3.30 % on Dec 31, 2020
About Laos GDP YoY
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.