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Gross domestic product per capita based on purchasing-power-parity in current prices

(international dollars)

In 2017, GDP per capita based on PPP in Lao People’s Democratic Republic was 7,023 international dollars. In the ranking by GDP per capita based on PPP including 185 countries, Lao People’s Democratic Republic has the 12th rank that is close to the positions of such countries as Republic of Korea and the Macau. Compared to Nicaragua which at the top of the ranking with GDP per capita based on PPP of 5,842 international dollars in 2017, Lao People’s Democratic Republic has 20.22 % percent higher GDP per capita based on PPP.

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What is GDP per capita based on PPP?

GDP per capita based on purchasing power parity (PPP). 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 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.