In 2022, GDP based on PPP for Lao People’s Democratic Republic was 70,682 million international dollars. Between 2003 and 2022, GDP based on PPP of Lao People’s Democratic Republic grew substantially from 12,256 million to 70,682 million international dollars rising at an increasing annual rate that reached a maximum of 18.42% in 2012 and then decreased to 9.94% in 2022.
The description is composed by our digital data assistant.PPP GDP is gross domestic product converted to international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GDP as the U.S. dollar has in the United States. GDP 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 international dollars.