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Laos : economy statistics and industry reports
- Updated on : 27 August 2012 Source : The World Factbook
Imports
$2.336 billion (2011 est.)$2.06 billion (2010 est.)
Exports
$2.131 billion (2011 est.)$1.746 billion (2010 est.)
Inflation rate (consumer prices)
7.6% (2011 est.)6% (2010 est.)
Unemployment rate
2.5% (2009 est.)2.4% (2005 est.)
GDP - per capita (PPP)
$2,700 (2011 est.)$2,500 (2010 est.)
$2,400 (2009 est.)
note: data are in 2011 US dollars
National product real growth rate
7.8% (2010 est.)7.5% (2009 est.)
7.2% (2008 est.)
Internet users
300,000 (2009)Telephones - mobile cellular
4.003 million (2009)Population growth rate
1.655% (2012 est.)Population
6,586,266 (July 2012 est.)About this country
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Historical background
Modern-day Laos has its roots in the ancient Lao kingdom of Lan Xang, established in the 14th Century under King FA NGUM.
For 300 years Lan Xang had influence reaching into present-day Cambodia and Thailand, as well as over all of what is now Laos.
After centuries of gradual decline, Laos came under the domination of Siam (Thailand) from the late 18th century until the late 19th century when it became part of French Indochina.
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Economic overview
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.
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