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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. It has a rudimentary, but improving, road system, and limited external and internal telecommunications. Electricity is available in urban areas and in many rural districts. Subsistence agriculture, dominated by rice cultivation in lowland areas, accounts for about 30% of GDP and provides 80% of total employment. The government in FY08/09 received $560 million from international donors. Economic growth has reduced official poverty rates from 46% in 1992 to 26% in 2009. The economy has benefited from high foreign investment in hydropower, mining, and construction. Laos gained Normal Trade Relations status with the US in 2004, and is taking steps required to join the World Trade Organization, such as reforming import licensing. Related trade policy reforms will improve the business environment. On the fiscal side, Laos launched an effort to ensure the collection of taxes in 2009 as the global economic slowdown reduced revenues from mining projects. Simplified investment procedures and expanded bank credits for small farmers and small entrepreneurs will improve Lao's economic prospects. The government appears committed to raising the country's profile among investors. The World Bank has declared that Laos's goal of graduating from the UN Development Program's list of least-developed countries by 2020 is achievable. According Laotian officials, the 7th Socio-Economic Development Plan for 2011-15 will outline efforts to achieve Millennium Development Goals.
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$14.22 billion (2009 est.)
country comparison to the world: 135
$13.35 billion (2008 est.)
$12.46 billion (2007 est.)
note:
data are in 2009 US dollars
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$5.598 billion (2009 est.)
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6.5% (2009 est.)
country comparison to the world: 13
7.2% (2008 est.)
7.8% (2007 est.)
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$2,100 (2009 est.)
country comparison to the world: 185
$2,000 (2008 est.)
$1,900 (2007 est.)
note:
data are in 2009 US dollars
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agriculture: 29.9%
industry:
33.1%
services:
37% (2009 est.)
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3.65 million (2009 est.)
country comparison to the world: 94
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agriculture: 80%
industry and services:
20% (2009 est.)
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2.5% (2009 est.)
country comparison to the world: 18
2.4% (2005 est.)
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26% (2009 est.)
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lowest 10%: 3.4%
highest 10%:
28.5% (2002)
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34.6 (2002)
country comparison to the world: 88
37 (1997)
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revenues: $941.5 million
expenditures:
$1.129 billion (2009 est.)
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0% (2009 est.)
country comparison to the world: 24
7.6% (2008 est.)
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4% (31 December 2009)
country comparison to the world: 54
7.67% (31 December 2008)
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11% (30 November 2009)
country comparison to the world: 13
24% (31 December 2008)
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$691.1 million (31 December 2009)
country comparison to the world: 122
$438.2 million (31 December 2008)
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$1.08 billion (31 December 2009)
country comparison to the world: 115
$717.9 million (31 December 2007)
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$832.2 million (31 December 2009)
country comparison to the world: 115
$285.8 million (31 December 2007)
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sweet potatoes, vegetables, corn, coffee, sugarcane, tobacco, cotton, tea, peanuts, rice; water buffalo, pigs, cattle, poultry
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copper, tin, gold, and gypsum mining; timber, electric power, agricultural processing, construction, garments, cement, tourism
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2.3% (2009 est.)
country comparison to the world: 51
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1.656 billion kWh (2009 est.)
country comparison to the world: 137
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1.798 billion kWh (2009 est.)
country comparison to the world: 137
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230 million kWh (2009 est.)
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819.5 million kWh (2009 est.)
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0 bbl/day (2009 est.)
country comparison to the world: 158
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3,000 bbl/day (2009 est.)
country comparison to the world: 180
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0 bbl/day (2007 est.)
country comparison to the world: 189
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3,080 bbl/day (2007 est.)
country comparison to the world: 169
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NA bbl (1 January 2009 est.)
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0 cu m (2008 est.)
country comparison to the world: 169
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0 cu m (2008 est.)
country comparison to the world: 122
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0 cu m (2008 est.)
country comparison to the world: 167
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0 cu m (2008 est.)
country comparison to the world: 155
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0 cu m (1 January 2009 est.)
country comparison to the world: 155
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-$356 million (2009 est.)
country comparison to the world: 103
-$602 million (2008 est.)
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$1.104 billion (2009 est.)
country comparison to the world: 146
$1.163 billion (2008 est.)
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wood products, coffee, electricity, tin, copper, gold
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Thailand 29.18%, China 15.04%, Vietnam 14.96%, UK 4.29% (2009)
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$2.034 billion (2009 est.)
country comparison to the world: 152
$2.342 billion (2008 est.)
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machinery and equipment, vehicles, fuel, consumer goods
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Thailand 66.2%, China 11.45%, Vietnam 5.3% (2009)
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$712.4 million (31 December 2009 est.)
country comparison to the world: 135
$638.6 million (31 December 2008 est.)
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$3.085 billion (2009 est.)
country comparison to the world: 119
$3.179 billion (2006 est.)
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kips (LAK) per US dollar - 8,556.56 (2009), 8,760.69 (2008), 9,658 (2007), 10,235 (2006), 10,820 (2005)
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