Lao People’s Democratic Republic - Gross domestic product in current prices

16,853,087,485 (US dollars) in 2017

In 2017, GDP for Lao People’s Democratic Republic was 16,853 million US dollars. Between 1998 and 2017, GDP of Lao People’s Democratic Republic grew substantially from 1,280 million to 16,853 million US dollars rising at an increasing annual rate that reached a maximum of 28.91 % in 2008 and then decreased to 6.63 % in 2017.

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GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.