Current Account in Laos
Laos - Current Account (billions of U.S. Dollars)Economic activity likely fared well in H1 2022 thanks to a robust external sector. According to the Ministry of Commerce figures, year-on-year export growth picked up in Q1 compared to Q4 2021. The China-Laos railway—operating since December 2021—has led to increased freight traffic between the two countries. That said, China’s zero-Covid policy has weighed on Laos’ agricultural exports. Meanwhile, the country is experiencing a fuel crisis, with prices soaring amid severe shortages. This is denting both private spending and business activity. The government has responded by cutting excise taxes on petrol, but this will increase pressure on the public finances. In other news, on 9 May Laos reopened fully for vaccinated travelers, providing a much-needed respite to the tourism industry.
Laos - Current Account (USD bn) Data
|Current Account Balance (USD bn)||-2.3||-1.4||-1.3||-1.4||-0.9|
5 years of economic forecasts for more than 30 economic indicators.
|Exchange Rate||8,885||0.31 %||Jan 01|
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