In 2022, GDP for Lao People’s Democratic Republic was 15,468 million US dollars. GDP of Lao People’s Democratic Republic increased from 2,023 million US dollars in 2003 to 15,468 million US dollars in 2022 growing at an average annual rate of 11.86%.
The description is composed by our digital data assistant.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.