Economic data

1. Economic system
The Lao government began , which is one of the few governments in the world , which is still adopts an approach officially Communist , the easing of restrictions on the central economy, and encourage the private sector in 1986. The results were remarkable ; as Laos has grown an average of 7 % , during the period from 1988 to 2001 , except for the landing, which was caused by the Asian financial crisis , which began in 1997, which did not last long .
In spite of this large rate of growth, but the infrastructure in Laos is still primitive , there is no railway lines . It is also where the primitive road network and rickety , government began to make significant improvements with the help of both China and Japan, and international local telecommunications services is very limited; Add to that the power does not exist only in urban areas. .
Agriculture contributes about 40% of GDP , and can accommodate about 80% of the total workforce. The government relies on assistance from international donors for more than 80% of capital investment. The economy has benefited , until recently , the large foreign investment in the areas of hydropower , mining, and construction. However, this investment has declined due to the global financial crisis in late 2008 , and the decline in commodity prices , especially copper .
Since 2004, there have been significant changes in policy may help stimulate growth, where there are normal trade relations with the United States of America , in 2004 , as a first step to join the World Trade Organization. Are conducted , as well, for political reforms in the country related to trade and work environment.
On the fiscal side , the VAT system , which was introduced with a small number of major companies in early 2009, will help to address the imbalance of the tax system of government and slow . And economic prospects will improve gradually in the country , where the government is trying to simplify investment procedures , and the government provided bank guarantees for small farmers and small entrepreneurs . Government show a clear determination to improve the image of the country to foreign investment. The foreign entities donors , Vched the Laos government on its efforts to improve the investment system . The World Bank announced that Laos has graduated from the list of countries of the United Nations Development Programme for the least developed countries , by 2020.
2. GDP , according to 2008 estimates
A . GDP ( purchasing power parity ) in the United States of America
( 1) 13.99 billion, according to estimates by the year 2008.
(2) 13.01 billion, according to estimates by the year 2007.
(3) 12.1 billion, according to estimates by the year 2006.
Note: Data are denominated in U.S. dollars in 2008.
B . GDP official exchange rate of the dollar : $ 5.187 billion .
C . The real growth rate of GDP
( 1 ) 7.5 % , according to 2008 estimates .
( 2 ) 7.5 % , according to estimates by the year 2007.
( 3 ) 8.3 % billion, according to estimates by the year 2006.
D . Average per capita income of the mentioned GDP ( GDP ( purchasing power parity ) in the United States of America )
(1) $ 2100 , according to estimates by the year 2008.
(2) $ 2,000 , according to estimates by the year 2007.
(3) $ 1,900 , according to 2006 estimates .
Note: Data are denominated in U.S. dollars in 2008.
3. Sources of GDP , according to 2008 estimates
A . Agriculture sector : 39.2 %.
B . Industry: 34.3 % .
C . Services sector : 26.6 %.
4. The labor force
A . Total: 2.1 million workers , according to 2006 estimates .
B . Distribution, according to 2005 estimates
(1) in the agriculture sector : 80 % .
(2) in industry and services : 20 % .
5. Unemployment rate: 2.4% , according to 2005 estimates .
6. Population below poverty line : 30.7 % , according to 2005 estimates .
7. Household income or consumption by percentage share of the total number of households , according to 2002 estimates
Lowest 10 % : 3.4 % .
Highest 10 % : 28.5 % .
8. Distribution of family income , according to the Gini coefficient : 34.6 , according to estimates by the year 2002.
9. Budget , according to 2008 estimates
A . Revenue: $ 809.6 million .
B . Expenditures : $ 954 million .
10. Inflation rate: 8.5% , according to estimates by the year 2008 , and 4.5 % , according to estimates by the year 2007.
11. The central bank discount rate : 12.67 % , according to estimates by 31 December 2007.
12. Commercial bank lending rate : 28.5 % , according to estimates by 31 December 2007.
13. Stock : 327.9 million dollars , according to estimates by 31 December 2007.
14. Similar stock : $ 717.9 million , according to estimates by 31 December 2007.
15. Local credit shares : 285.8 million dollars , according to estimates by 31 December 2007.
16. Agriculture Products
Of the most important agricultural products in Laos : potatoes , vegetables , corn, coffee, sugar cane , tobacco, cotton, tea, peanuts, and rice. One of the main sources of their livestock : water buffalo , pigs , cattle, and poultry.
17. Industries
Of the most important industries in Laos: copper , tin , gold, and extraction of gypsum , wood , electric power , agribusiness , construction , clothing , cement, and tourism.
18. Industrial production growth rate : 11 % , according to 2008 estimates .
19. Electricity
A . Production: 1.639 billion kilowatt / hour , according to 2006 estimates .
B . Consumption : 1.344 billion kilowatt / hour , according to 2006 estimates .
C . Electricity exports : 547 million kw / h , according to 2006 estimates .
D . Electricity imports : 367 million , according to 2006 estimates .
20. Oil
A . Production : zero , est. 2007.
B . Consumption: 2996 barrels a day , according to 2006 estimates .
C . Oil exports : zero , according to 2005 estimates .
D . Oil imports : 3036 barrels a day , according to 2005 estimates .
E . Proved reserves: zero , according to estimates from the first of January 2006.
21. Natural Gas
A . Production : zero , est. 2007.
B . Consumption: zero, est. 2007.
C . Exports : zero , est. 2007.
D . Imports: zero, est. 2007.
E . Proved reserves: zero , according to estimates from the first of January 2006.
22. Current account balance: $ -37 million , according to 2008 estimates .
23. Exports
A . The total value of exports : 1.033 billion, according to estimates by the year 2008.
B . Main exports : wood products , electricity , coffee , tin , copper, and gold.
C . The main importing countries : Thailand 32.7% , Vietnam 14.3 %, China 5.9% , South Korea 4.8% , according to estimates by the year 2007.
24. Imports
A . Total value of imports : 1.278 billion, delivery "FOB", according to 2008 estimates .
B . Main imports : machinery and equipment , vehicles, fuel, and consumer goods.
C . The most important exporting countries : Thailand 68.5 %, China 9.3% , Vietnam 5.5% , according to estimates in 2007 .
25 . Reserves of foreign exchange and gold: $ 765 million , according to estimates of 31 December 2008.
26 . External debt : $ 3.179 billion , according to estimates by the year 2006.
27 .
28 . Exchange rate against the U.S. dollar : 8.760.69 Cape , in 2008; 9.685 Cape , in 2007; 10.235 Cape , in 2006; 10.820 Cape , in 2005 ; 10.585.5 Cape , in 2004.