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The economy of Laos is a lower-middle income developing economy. Being one of the socialist states (along with China, Cuba, Vietnam, and North Korea ), the Lao economic model resembles the Chinese socialist market and/or Vietnamese socialist-oriented market economies by combining high degrees of state ownership with openness to foreign direct ...
Laos was then dependent on military and economic aid from the Soviet Union until its dissolution in 1991. Laos is a member of the Asia-Pacific Trade Agreement, the ASEAN, East Asia Summit, and La Francophonie. Laos applied for membership of the World Trade Organization in 1997; on 2 February 2013, it was granted full membership.
Laos is a landlocked, sovereign nation in Southeast Asia. [1] Laos borders Burma ( Myanmar) and China to the northwest, Vietnam to the east, Cambodia to the south, and Thailand to the west. Laos traces its history to the Kingdom of Lan Xang or "Land of a Million Elephants", which existed from the fourteenth to the eighteenth century.
Laos: 7.687: 14,110: 1,833: 78,932: 10,274 List 2023. GDP and GDP per capita data are according to IMF for 2023 data. Rank Country Population in million GDP Nominal
Agricultural production rates. In the early 1990s, agriculture was the foundation of the economy. Although a slight downward trend in the sector's contribution to gross domestic product was evident throughout the 1980s and early 1990s—from about 65 percent of GDP in 1980 to about 61 percent in 1989 and further decreasing to between 53 and 57 percent in 1991—a similar decrease in the ...
Bank of the Lao P.D.R. Categories: Laos. Economies by country. Economies of Asia by country. Economy of Southeast Asia. Hidden category: Commons category link is on Wikidata.
Membership of international bodies. Laos is a member of the following international organizations: Agency for Cultural and Technical Cooperation (ACCT), ASEAN, ASEAN Free Trade Area (AFTA), ASEAN Regional Forum, ASEAN-Japan Centre (AJC) Asian Development Bank, Colombo Plan, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), Food and Agriculture Organization (FAO ...
In 2015, Laos joined the People's Republic of China global infrastructure project the Belt and Road Initiative (BRI). During a 2017 visit to Vientiane by Xi, the two countries announced the Laos-China Economic Corridor.: 129 The most important BRI project in Laos is the Vientiane-Boten Railway which was completed in 2021.