LAOS

 

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Lao PDR, a lower-middle income economy with a GNI per capita of $1,600 in 2014, is one of the fastest growing economies in the East Asia and Pacific region. GDP growth averaged 7 percent over the last decade, with increasing use of the country’s natural resources – mostly water, minerals and forests – contributing one third of output growth. Construction and services also expanded as resource rents spread to the rest of the economy and growing regional integration boosted tourism and attracted foreign investment.

India provided USD 66.15 million to Laos for irrigation and hydro power projects, including the extension of transmission lines, for socio-economic development in the South East Asian nation. The decision was taken during External Affairs Minister Salman Khurshid's ongoing visit to the country to participate in the 7th India-Lao Joint Commission Meeting (JMC) on Bilateral Cooperation.
 

 

At a Glance:

 

 

Country Name 

 

 

Lao People’s Democratic Republic

 

 

Area

 

 

236,800 sq.km

 

 

Capital

 

 

Vientiane

 

 

Government type    

    

 

Communist state

 

 

Administrative divisions

 

 

16 provinces (khoueng, singular and plural) and

1  capital city* ( nakhon luang, singular and plural);

Attapu, Bokeo, Bolikhamxai, Champasak, Houaphan, Khammouan, Louangnamtha, Louangphrabang, Oidomxai, Phongsali, Salavan, Savannakhet,  Viangchan (Vientiane)*, Viangchan, Xaignabouli,   Xekong, Xiangkhoang.

             

 

National Holidays

 

 

Republic Day- 2nd December

 

 

Fiscal year      

 

 

1st October – 30th September

 

 

Currency         

 

 

Kip (LAK)

 

 

President

 

 

Lt. Gen. Choummali Saignason

(since 8th June 2006)

 

 

Prime Minister 

 

 

THONGSING Thammavong

(since 24th December 2010) 

 

 

Population    

   

 

6,803,699 (July 2014 est.)

 

 

Net migration rate

 

 

-1.1 migrant(s)/1,000 populations (2014 est.)

 

 

GDP (purchasing power parity)

 

 

 

$20.78 billion (2013 est.)

 

 

 

 

GDP- composition by sector

  

 

 

Agriculture: 24.8%

Industry: 32%

Services: 37.5% (2013 est.)

 

 

Agriculture- Products

 

 

Sweet potatoes, vegetables, corn, coffee, sugarcane, tobacco, cotton, tea, peanuts, rice; cassava (manioc), water buffalo, pigs, cattle, poultry

 

 

Industries    

    

 

Mining (copper, tin, gold, and gypsum); timber, electric power, agricultural processing, rubber, construction, garments, cement, tourism 

         

 

Major Exports

 

 

Wood products, coffee, electricity, tin, copper, gold, cassava

 

 

Major Exports Partners

 

 

Thailand 34%, China 21.5%, Vietnam 12.2% (2012)

 

 

Major Imports

 

 

machinery and equipment, vehicles, fuel, consumer goods

 

 

Major Importers – Partners

 

 

Thailand 62.1%, China 16.2%, Vietnam 7.3% (2012)

 

 

Natural resources  

    

 

Timber, hydropower, gypsum, tin, gold, gemstones

 

 

Languages

 

 

Lao (official), French, English, various ethnic languages

 

 

Ethnic groups 

 

 

Lao 55%, Khmou 11%, Hmong 8%, others (over 100 minor ethnic groups) 26% (2005 census).

 

 

Climate

 

 

Tropical monsoon; rainy season (May to November); dry season (December to April)

 

 

Location    

      

 

Southeastern Asia, northeast of Thailand, west of Vietnam