Laos Economic Outlook
October 18, 2016The Laos economy has been growing robustly and should maintain its momentum this year. GDP growth has been supported by increased electricity production, which is expected to grow by 20% over the course of 2016, as well as improved agricultural output, thanks to better weather conditions so far this year. Manufacturing has grown strongly in the special economic zones and has attracted further investments, indicating that the government’s diversification strategy away from power generation and subsistence farming is slowly bearing fruit. However, tourism and mining have recorded small dips this year, hitting already weak government revenues and aggravating the budget deficit, which had already been weakened by the government’s chairmanship of ASEAN this year.
Laos Economy Data
|GDP per capita (USD)||1,270||1,408||1,653||1,739||-|
|GDP (USD bn)||8.3||9.4||11.2||12.0||-|
|Economic Growth (GDP, annual variation in %)||8.0||8.0||8.5||7.5||-|
|Fiscal Balance (% of GDP)||-1.7||-0.5||-5.6||-||-|
|Public Debt (% of GDP)||56.9||62.2||60.1||-||-|
|Inflation Rate (CPI, annual variation in %)||7.6||4.3||6.4||4.1||1.3|
|Policy Interest Rate (%)||6.25||6.25||6.25||6.25||5.63|
|Exchange Rate (vs USD)||8,058||7,990||7,938||8,035||8,122|
|Exchange Rate (vs USD, aop)||8,029||8,008||7,839||8,048||8,135|
|Current Account (% of GDP)||-17.3||-30.2||-27.8||-||-|
|Current Account Balance (USD bn)||-1.4||-2.8||-3.1||-||-|
|Trade Balance (USD billion)||-0.2||-0.8||-0.8||-0.7||-|
|Exports (USD billion)||2.2||2.3||2.3||2.7||-|
|Imports (USD billion)||2.4||3.1||3.0||3.3||-|
|Exports (annual variation in %)||25.4||3.7||-0.3||17.0||-|
|Imports (annual variation in %)||16.7||27.1||-1.1||9.3||-|
|International Reserves (USD)||0.7||0.8||0.7||0.9||-|
|External Debt (% of GDP)||91.1||87.3||84.2||89.4||-|
5 years of Laos economic forecasts for more than 30 economic indicators.
Get a sample report showing all the data and analysis covered in our Regional, Country and Commodities reports.
|Exchange Rate||8,147||0.08 %||Oct 26|
Laos Economic Growth
October 18, 2016GDP will grow robustly this year. However, weak regional trade dynamics and the government’s overall weak fiscal position pose some risks to the outlook. FocusEconomics Consensus Forecast panelists expect GDP to expand 7.2% in 2016, which is up 0.1 percentage points from last month’s forecast. For 2017, the panel sees growth of 7.1%.