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%.
Laos GDP from 1980 to 2024
The total market value of goods and services produced annually in Laos.
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.
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 | GDP Growth | Nominal GDP | PPP GDP | GDP per Capita | PPP per Capita | Savings | Population | Current Account | Fiscal Balance |
|---|---|---|---|---|---|---|---|---|---|
1980 | 10.004 % | $ 1B 913M | $ 1B 735M | $ 584.59 | $ 530.08 | 0 % | 3M 272K people | -2.242 % | 0 % |
1981 | 15.332 % | $ 1B 118M | $ 2B 190M | $ 335.22 | $ 656.61 | 0 % | 3M 335K people | -4.934 % | 0 % |
1982 | 4.715 % | $ 1B 119M | $ 2B 435M | $ 327.90 | $ 713.62 | 0 % | 3M 412K people | -4.523 % | 0 % |
1983 | 3 % | $ 2B 47M | $ 2B 606M | $ 584.80 | $ 744.63 | 0 % | 3M 500K people | -3.485 % | 0 % |
1984 | 6.438 % | $ 2B 930M | $ 2B 874M | $ 815.21 | $ 799.47 | 0 % | 3M 595K people | -1.961 % | 0 % |
1985 | 9.122 % | $ 3B 685M | $ 3B 235M | $ 997.62 | $ 875.86 | 0 % | 3M 694K people | -1.611 % | 0 % |
1986 | 4.829 % | $ 2B 577M | $ 3B 460M | $ 678.46 | $ 910.96 | 0 % | 3M 798K people | -2.499 % | 0 % |
1987 | -0.96 % | $ 1B 815M | $ 3B 511M | $ 464.66 | $ 898.98 | 0 % | 3M 906K people | -4.514 % | 0 % |
1988 | -2.1 % | $ 1B 182M | $ 3B 559M | $ 294.24 | $ 885.71 | 0 % | 4M 18K people | -6.699 % | 0 % |
1989 | 9.893 % | $ 1B 460M | $ 4B 64M | $ 353.31 | $ 983.30 | 0 % | 4M 133K people | -7.916 % | 0 % |
1990 | 6.686 % | $ 1B 742M | $ 4B 498M | $ 406.20 | $ 1,048.69 | 0 % | 4M 289K people | -4.465 % | 0 % |
1991 | 3.999 % | $ 2B 53M | $ 4B 836M | $ 464.92 | $ 1,095.15 | 0 % | 4M 416K people | -1.218 % | 0 % |
1992 | 6.999 % | $ 2B 354M | $ 5B 293M | $ 517.90 | $ 1,164.43 | 0 % | 4M 545K people | -1.746 % | 0 % |
1993 | 5.867 % | $ 2B 652M | $ 5B 736M | $ 567.21 | $ 1,227.04 | 0 % | 4M 675K people | -1.607 % | 0 % |
1994 | 8.16 % | $ 3B 81M | $ 6B 337M | $ 641.63 | $ 1,319.76 | 0 % | 4M 801K people | -3.451 % | 0 % |
1995 | 7.045 % | $ 3B 579M | $ 6B 925M | $ 727.11 | $ 1,406.73 | 0 % | 4M 923K people | -3.464 % | 0 % |
1996 | 6.892 % | $ 3B 726M | $ 7B 538M | $ 739.32 | $ 1,495.87 | 0 % | 5M 39K people | -6.26 % | 0 % |
1997 | 6.907 % | $ 3B 515M | $ 8B 198M | $ 682.51 | $ 1,591.61 | 0 % | 5M 151K people | -5.738 % | 0 % |
1998 | 4.279 % | $ 1B 334M | $ 8B 645M | $ 254.24 | $ 1,647.55 | 0 % | 5M 247K people | -5.679 % | 0 % |
1999 | 4.028 % | $ 1B 415M | $ 9B 120M | $ 264.93 | $ 1,707.85 | 0 % | 5M 340K people | -6.805 % | 0 % |