AEIR 2021

Lao People’s Democratic Republic

GDP growth fell to 5.0% in 2019 from 6.2% in 2018. A combination of floods and drought, and African swine flu slowed agricultural production, which comprises 15.5% of GDP. Industrial growth also slowed as hydroelectric power generation fell. Growth in services, however, rose slightly, to 7.2% in 2019 from 7.0%, from an increase in tourism. Higher food prices drove inflation to 3.3%. Export growth eased from 18.7% to 4.5% while import growth plunged to 0.5% due to the depreciation of the kip. The COVID-19 impact and general regional slowdown will limit GDP growth to 3.5% in 2020—even with an increase in hydroelectric power generation, public construction and recovery in agriculture. Growth should rise to 6.0% in 2021 as tourism, transport, trade, and related services revive.
Source: Asian Development Outlook 2020, ADB
Latest Month-Ago Year-Ago
Composite Stock Price Index 1 590.8 (Feb21)599.3 693.0
Broad Money Growth 2 17.0 (Dec20)17.0 18.9
Headline Inflation Rate 3 2.0 (Jan21)3.2 6.9
Merchandise Export Growth 3 20.3 (Nov20)20.3 8.2
Exchange Rate Index 4 87.4 (Feb21)87.4 87.1
1 Monthly average, local index.
2 %.
3 y-o-y, %.
4 Monthly average, January 2006 = 100, $/local currency.
Source: Bloomberg LP; CEIC database.

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