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Economic overview
Laos — 36 years of data
Historical Values
| Year | Value |
|---|---|
| 1990 | One of the world's poorest nations, Laos has had a Communist centrally planned economy with government ownership and control of productive enterprises of any size. Recently, however, the government has been decentralizing control and encouraging private enterprise. Laos is a landlocked country with a primitive infrastructure, that is, it has no railroads, a rudimentary road system, limited external and internal telecommunications, and electricity available in only a limited area. Subsistence agr |
| 1991 | One of the world's poorest nations, Laos has had a Communist centrally planned economy with government ownership and control of productive enterprises of any size. Recently, however, the government has been decentralizing control and encouraging private enterprise. Laos is a landlocked country with a primitive infrastructure, that is, it has no railroads, a rudimentary road system, limited external and internal telecommunications, and electricity available in only a limited area. Subsistence agr |
| 1992 | One of the world's poorest nations, Laos has had a Communist centrally planned economy with government ownership and control of productive enterprises of any size. In recent years, however, the government has been decentralizing control and encouraging private enterprise. Laos is a landlocked country with a primitive infrastructure; that is, it has no railroads, a rudimentary road system, limited external and internal telecommunications, and electricity available in only a limited area. Subsiste |
| 1993 | One of the world's poorest nations, Laos has had a Communist centrally planned economy with government ownership and control of productive enterprises of any size. In recent years, however, the government has been decentralizing control and encouraging private enterprise. Laos is a landlocked country with a primitive infrastructure; that is, it has no railroads, a rudimentary road system, limited external and internal telecommunications, and electricity available in only a limited area. Subsiste |
| 1994 | Laos has had a Communist centrally planned economy with government ownership and control of major productive enterprises. Since 1986, however, the government has been decentralizing control and encouraging private enterprise. Laos is a landlocked country with a primitive infrastructure; it has no railroads, a rudimentary road system, limited external and internal telecommunications, and electricity available in only a limited area. Subsistence agriculture is the main occupation, accounting for o |
| 1995 | The government of Laos - one of the few remaining official Communist states - has been decentralizing control and encouraging private enterprise since 1986. The results, starting from an extremely low base, have been striking - growth has averaged 7.5% annually since 1988. Even so, Laos is a landlocked country with a primitive infrastructure. It has no railroads, a rudimentary road system, and limited external and internal telecommunications. Electricity is available in only a few urban areas. S |
| 1996 | The government of Laos - one of the few remaining official communist states - has been decentralizing control and encouraging private enterprise since 1986. The results, starting from an extremely low base, have been striking - growth has averaged 7.5% annually since 1988. Even so, Laos is a landlocked country with a primitive infrastructure. It has no railroads, a rudimentary road system, and limited external and internal telecommunications. Electricity is available in only a few urban areas. S |
| 1997 | The government of Laos - one of the few remaining official communist states - has been decentralizing control and encouraging private enterprise since 1986. The results, starting from an extremely low base, have been striking - growth has averaged 7.5% annually since 1988. Even so, Laos is a landlocked country with a primitive infrastructure. It has no railroads, a rudimentary road system, and limited external and internal telecommunications. Electricity is available in only a few urban areas. S |
| 1998 | The government of Laos-one of the few remaining official communist states-has been decentralizing control and encouraging private enterprise since 1986. The results, starting from an extremely low base, have been striking - growth averaged 7% in 1988-96. Because Laos depends heavily on its trade with Thailand, it fell victim to the financial crisis in the region in 1997, when growth was a mere 1.5%. Laos is a landlocked country with a primitive infrastructure. It has no railroads, a rudimentary |
| 1999 | The government of Laos?one of the few remaining official communist states--has been decentralizing control and encouraging private enterprise since 1986. The results, starting from an extremely low base, have been striking--growth averaged 7% in 1988-96. Because Laos depends heavily on its trade with Thailand, it fell victim to the financial crisis in the region beginning in 1997. Laos is a landlocked country with a primitive infrastructure. It has no railroads, a rudimentary road system, and li |
| 2000 | The government of Laos - one of the few remaining official communist states - began decentralizing control and encouraging private enterprise in 1986. The results, starting from an extremely low base, were striking - growth averaged 7% in 1988-96. Since mid-1996, however, reform efforts have slowed, and the economy has suffered as a result. Because Laos depends heavily on its trade with Thailand, it was further damaged by the regional financial crisis beginning in 1997. From June 1997 to June 19 |
| 2001 | The government of Laos - one of the few remaining official communist states - began decentralizing control and encouraging private enterprise in 1986. The results, starting from an extremely low base, were striking - growth averaged 7% during 1988-97. Reform efforts subsequently slowed, and GDP growth dropped an average of 3 percentage points. Because Laos depends heavily on its trade with Thailand, it was damaged by the regional financial crisis beginning in 1997. Government mismanagement deepe |
| 2002 | The government of Laos - one of the few remaining official Communist states - began decentralizing control and encouraging private enterprise in 1986. The results, starting from an extremely low base, were striking - growth averaged 7% in 1988-2001 except during the short-lived drop caused by the Asian financial crisis beginning in 1997. Despite this high growth rate, Laos remains a country with a primitive infrastructure; it has no railroads, a rudimentary road system, and limited external and |
| 2003 | The government of Laos - one of the few remaining official Communist states - began decentralizing control and encouraging private enterprise in 1986. The results, starting from an extremely low base, were striking - growth averaged 7% in 1988-2001 except during the short-lived drop caused by the Asian financial crisis beginning in 1997. Despite this high growth rate, Laos remains a country with a primitive infrastructure; it has no railroads, a rudimentary road system, and limited external and |
| 2004 | The government of Laos - one of the few remaining official Communist states - began decentralizing control and encouraging private enterprise in 1986. The results, starting from an extremely low base, were striking - growth averaged 7% in 1988-2001 except during the short-lived drop caused by the Asian financial crisis beginning in 1997. Despite this high growth rate, Laos remains a country with a primitive infrastructure; it has no railroads, a rudimentary road system, and limited external and |
| 2005 | The government of Laos - one of the few remaining official Communist states - began decentralizing control and encouraging private enterprise in 1986. The results, starting from an extremely low base, were striking - growth averaged 6% in 1988-2004 except during the short-lived drop caused by the Asian financial crisis beginning in 1997. Despite this high growth rate, Laos remains a country with a primitive infrastructure; it has no railroads, a rudimentary road system, and limited external and |
| 2006 | The government of Laos, one of the few remaining official Communist states, began decentralizing control and encouraging private enterprise in 1986. The results, starting from an extremely low base, were striking - growth averaged 6% in 1988-2004 except during the short-lived drop caused by the Asian financial crisis beginning in 1997. Despite this high growth rate, Laos remains a country with a primitive infrastructure. It has no railroads, a rudimentary road system, and limited external and in |
| 2007 | The government of Laos, one of the few remaining official Communist states, began decentralizing control and encouraging private enterprise in 1986. The results, starting from an extremely low base, were striking - growth averaged 6% per year in 1988-2006 except during the short-lived drop caused by the Asian financial crisis beginning in 1997. Despite this high growth rate, Laos remains a country with a primitive infrastructure. It has no railroads, a rudimentary road system, and limited extern |
| 2008 | The government of Laos, one of the few remaining one-party Communist states, began decentralizing control and encouraging private enterprise in 1986. The results, starting from an extremely low base, were striking - growth averaged 6% per year in 1988-2007 except during the short-lived drop caused by the Asian financial crisis beginning in 1997. Despite this high growth rate, Laos remains a country with a underdeveloped infrastructure, particularly in rural areas. It has no railroads, a rudiment |
| 2009 | The government of Laos, one of the few remaining one-party Communist states, began decentralizing control and encouraging private enterprise in 1986. The results, starting from an extremely low base, were striking - growth averaged 6% per year from 1988-2008 except during the short-lived drop caused by the Asian financial crisis that began in 1997. Despite this high growth rate, Laos remains a country with an underdeveloped infrastructure, particularly in rural areas. It has no railroads, a rudi |
| 2010 | The government of Laos, one of the few remaining one-party Communist states, began decentralizing control and encouraging private enterprise in 1986. The results, starting from an extremely low base, were striking - growth averaged 6% per year from 1988-2008 except during the short-lived drop caused by the Asian financial crisis that began in 1997. Despite this high growth rate, Laos remains a country with an underdeveloped infrastructure, particularly in rural areas. It has a rudimentary, but i |
| 2011 | The government of Laos, one of the few remaining one-party Communist states, began decentralizing control and encouraging private enterprise in 1986. The results, starting from an extremely low base, were striking - growth averaged 6% per year from 1988-2008 except during the short-lived drop caused by the Asian financial crisis that began in 1997. Despite this high growth rate, Laos remains a country with an underdeveloped infrastructure, particularly in rural areas. It has a rudimentary, but i |
| 2012 | The government of Laos, one of the few remaining one-party communist states, began decentralizing control and encouraging private enterprise in 1986. The results, starting from an extremely low base, were striking - growth averaged 6% per year from 1988-2008 except during the short-lived drop caused by the Asian financial crisis that began in 1997. Laos' growth exceeded 7% per year during 2008-12. Despite this high growth rate, Laos remains a country with an underdeveloped infrastructure, partic |
| 2013 | The government of Laos, one of the few remaining one-party communist states, began decentralizing control and encouraging private enterprise in 1986. The results, starting from an extremely low base, were striking - growth averaged 6% per year from 1988-2008 except during the short-lived drop caused by the Asian financial crisis that began in 1997. Laos' growth exceeded 7% per year during 2008-12. Despite this high growth rate, Laos remains a country with an underdeveloped infrastructure, partic |
| 2014 | The government of Laos, one of the few remaining one-party communist states, began decentralizing control and encouraging private enterprise in 1986. The results, starting from an extremely low base, were striking - growth averaged 6% per year from 1988-2008 except during the short-lived drop caused by the Asian financial crisis that began in 1997. Laos' growth exceeded 7% per year during 2008-13. Despite this high growth rate, Laos remains a country with an underdeveloped infrastructure, partic |
| 2015 | The government of Laos, one of the few remaining one-party communist states, began decentralizing control and encouraging private enterprise in 1986. The results, starting from an extremely low base, were striking - growth averaged 6% per year from 1988-2008 except during the short-lived drop caused by the Asian financial crisis that began in 1997. Laos' growth has more recently been amongst the fastest in Asia and averaged nearly 8% per year for the last decade. Despite this high growth rate, L |
| 2016 | The government of Laos, one of the few remaining one-party communist states, began decentralizing control and encouraging private enterprise in 1986. Economic growth averaged 6% per year from 1988-2008 except during the short-lived drop caused by the Asian financial crisis that began in 1997. Laos' growth has more recently been amongst the fastest in Asia and averaged nearly 8% per year for the last decade. | Nevertheless, Laos remains a country with an underdeveloped infrastructure, particularl |
| 2017 | The government of Laos, one of the few remaining one-party communist states, began decentralizing control and encouraging private enterprise in 1986. Economic growth averaged more than 6% per year in the period 1988-2008, and Laos' growth has more recently been amongst the fastest in Asia, averaging nearly 8% per year for most of the last decade. However, growth has declined over the past year and is expected to be about 6.8% in 2017, according to the IMF. | Nevertheless, Laos remains a country |
| 2018 | The government of Laos, one of the few remaining one-party communist states, began decentralizing control and encouraging private enterprise in 1986. Economic growth averaged more than 6% per year in the period 1988-2008, and Laos' growth has more recently been amongst the fastest in Asia, averaging more than 7% per year for most of the last decade. Nevertheless, Laos remains a country with an underdeveloped infrastructure, particularly in rural areas. It has a basic, but improving, road system, |
| 2019 | The government of Laos, one of the few remaining one-party communist states, began decentralizing control and encouraging private enterprise in 1986. Economic growth averaged more than 6% per year in the period 1988-2008, and Laos' growth has more recently been amongst the fastest in Asia, averaging more than 7% per year for most of the last decade. Nevertheless, Laos remains a country with an underdeveloped infrastructure, particularly in rural areas. It has a basic, but improving, road system, |
| 2020 | The government of Laos, one of the few remaining one-party communist states, began decentralizing control and encouraging private enterprise in 1986. Economic growth averaged more than 6% per year in the period 1988-2008, and Laos' growth has more recently been amongst the fastest in Asia, averaging more than 7% per year for most of the last decade. Nevertheless, Laos remains a country with an underdeveloped infrastructure, particularly in rural areas. It has a basic, but improving, road system, |
| 2021 | The government of Laos, one of the few remaining one-party communist states, began decentralizing control and encouraging private enterprise in 1986. Economic growth averaged more than 6% per year in the period 1988-2008, and Laos' growth has more recently been amongst the fastest in Asia, averaging more than 7% per year for most of the last decade. Nevertheless, Laos remains a country with an underdeveloped infrastructure, particularly in rural areas. It has a basic, but improving, road system, |
| 2022 | The government of Laos, one of the few remaining one-party communist states, began decentralizing control and encouraging private enterprise in 1986. Economic growth averaged more than 6% per year in the period 1988-2008, and Laos' growth has more recently been amongst the fastest in Asia, averaging more than 7% per year for most of the last decade. Nevertheless, Laos remains a country with an underdeveloped infrastructure, particularly in rural areas. It has a basic, but improving, road system, |
| 2023 | lower middle-income, industrial Southeast Asian economy; high inflation due to 2022 currency depreciation brought on by persistently high debt; new Laos-China railway and dry port; rising inequities; ongoing labor shortages |
| 2024 | lower middle-income, industrial Southeast Asian economy; high inflation due to 2022 currency depreciation brought on by persistently high debt; new Laos-China railway and dry port; rising inequities; ongoing labor shortages |
| 2025 | lower middle-income, industrial Southeast Asian economy; high inflation due to 2022 currency depreciation brought on by persistently high debt; new Laos-China railway and dry port; rising inequities; ongoing labor shortages |