Laos's GDP changed from approximately $1B 913M in 1980 to $15B 190M in 2024, showing an overall 694.0% sharply increased during the period.
The lowest GDP was recorded in 1981 at $1B 118M, and the highest in 2019 at $18B 770M.
Over the 44-year span, the GDP showed a overall increase with some decline trend, with an average annual growth rate of 4.8%.
For comparison, the average annual growth rate of Vietnam was 6.0%, and that of Thailand was 6.6%.
Overview of Laos's GDP (1980–2024)
The Gross Domestic Product (GDP) of Laos recorded a 694.0% sharply increased from 1980 to 2024.
The average GDP during this period was $6B 631M, and the median was $3B 515M.
GDP fluctuated within a range of $17B 652M, with a standard deviation of $6B 131M.
The average annual change was $401M 213K.
Laos GDP from 1980 to 2024
The total market value of goods and services produced annually in Laos.
Data Source: International Monetary Fund
Image Source: Freepik from www.flaticon.com
Highest and Lowest GDP Records
- Lowest GDP: 1981, $1B 118M
- Highest GDP: 2019, $18B 770M
- Most Recent GDP: 2024, $15B 190M
Notable Annual GDP Changes
- 2013: Significant increase in GDP
- 2022: Noticeable drop in GDP
Overall pattern: overall increase with some decline
Global Economic Events and Laos's GDP
COVID-19 Pandemic (2020)
- Period: From 2019 to 2020
- GDP Change: $18B 770M → $18B 511M
- Outcome: declined
2008 Global Financial Crisis
- Period: From 2007 to 2009
- GDP Change: $4B 757M → $6B 431M
- Outcome: sharply increased
2001 Dot-com Bubble Burst
- Period: From 2000 to 2001
- GDP Change: $1B 720M → $1B 757M
- Outcome: increased
1998 Asian Financial Crisis
- Period: From 1997 to 1998
- GDP Change: $3B 515M → $1B 334M
- Outcome: sharply declined
Key Economic Indicators of Laos (1980–2024)
| year | Nominal GDP | GDP per Capita | PPP per Capita | PPP GDP | GDP Growth | Current Account | Savings | Fiscal Balance | Population |
|---|---|---|---|---|---|---|---|---|---|
1980 | $ 1B 913M | $ 584.59 | $ 530.08 | $ 1B 735M | 10.004 % | -2.242 % | 0 % | 0 % | 3M 272K people |
1981 | $ 1B 118M | $ 335.22 | $ 656.61 | $ 2B 190M | 15.332 % | -4.934 % | 0 % | 0 % | 3M 335K people |
1982 | $ 1B 119M | $ 327.90 | $ 713.62 | $ 2B 435M | 4.715 % | -4.523 % | 0 % | 0 % | 3M 412K people |
1983 | $ 2B 47M | $ 584.80 | $ 744.63 | $ 2B 606M | 3 % | -3.485 % | 0 % | 0 % | 3M 500K people |
1984 | $ 2B 930M | $ 815.21 | $ 799.47 | $ 2B 874M | 6.438 % | -1.961 % | 0 % | 0 % | 3M 595K people |
1985 | $ 3B 685M | $ 997.62 | $ 875.86 | $ 3B 235M | 9.122 % | -1.611 % | 0 % | 0 % | 3M 694K people |
1986 | $ 2B 577M | $ 678.46 | $ 910.96 | $ 3B 460M | 4.829 % | -2.499 % | 0 % | 0 % | 3M 798K people |
1987 | $ 1B 815M | $ 464.66 | $ 898.98 | $ 3B 511M | -0.96 % | -4.514 % | 0 % | 0 % | 3M 906K people |
1988 | $ 1B 182M | $ 294.24 | $ 885.71 | $ 3B 559M | -2.1 % | -6.699 % | 0 % | 0 % | 4M 18K people |
1989 | $ 1B 460M | $ 353.31 | $ 983.30 | $ 4B 64M | 9.893 % | -7.916 % | 0 % | 0 % | 4M 133K people |
1990 | $ 1B 742M | $ 406.20 | $ 1,048.69 | $ 4B 498M | 6.686 % | -4.465 % | 0 % | 0 % | 4M 289K people |
1991 | $ 2B 53M | $ 464.92 | $ 1,095.15 | $ 4B 836M | 3.999 % | -1.218 % | 0 % | 0 % | 4M 416K people |
1992 | $ 2B 354M | $ 517.90 | $ 1,164.43 | $ 5B 293M | 6.999 % | -1.746 % | 0 % | 0 % | 4M 545K people |
1993 | $ 2B 652M | $ 567.21 | $ 1,227.04 | $ 5B 736M | 5.867 % | -1.607 % | 0 % | 0 % | 4M 675K people |
1994 | $ 3B 81M | $ 641.63 | $ 1,319.76 | $ 6B 337M | 8.16 % | -3.451 % | 0 % | 0 % | 4M 801K people |
1995 | $ 3B 579M | $ 727.11 | $ 1,406.73 | $ 6B 925M | 7.045 % | -3.464 % | 0 % | 0 % | 4M 923K people |
1996 | $ 3B 726M | $ 739.32 | $ 1,495.87 | $ 7B 538M | 6.892 % | -6.26 % | 0 % | 0 % | 5M 39K people |
1997 | $ 3B 515M | $ 682.51 | $ 1,591.61 | $ 8B 198M | 6.907 % | -5.738 % | 0 % | 0 % | 5M 151K people |
1998 | $ 1B 334M | $ 254.24 | $ 1,647.55 | $ 8B 645M | 4.279 % | -5.679 % | 0 % | 0 % | 5M 247K people |
1999 | $ 1B 415M | $ 264.93 | $ 1,707.85 | $ 9B 120M | 4.028 % | -6.805 % | 0 % | 0 % | 5M 340K people |
