Trade in services in Lao People's Democratic Republic
Lao People's Democratic Republic: Trade in services was 18.2% in 2024. ◆ Volatile
Trade in services in Lao People's Democratic Republic, 1984–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
Lao People's Democratic Republic recorded 18.2% for trade in services in 2024.
The figure is up 26.6% on the previous year and up 26.0% over ten years.
Over the whole period, trade in services in Lao People's Democratic Republic peaked at 36.9% in 1998 and was at its lowest, 2.0%, in 2021.
That places Lao People's Democratic Republic 113th out of 200 countries with data for 2024, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Trade in services in Lao People's Democratic Republic, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1984 | 4.1% | — |
| 1985 | 2.7% | -34.3% |
| 1986 | 3.3% | +20.7% |
| 1987 | 5.9% | +80.8% |
| 1988 | 7.4% | +25.4% |
| 1989 | 6.8% | -9.0% |
| 1990 | 5.8% | -14.4% |
| 1991 | 8.3% | +43.5% |
| 1992 | 8.0% | -3.6% |
| 1993 | 14.2% | +76.8% |
| 1994 | 17.1% | +21.0% |
| 1995 | 13.2% | -22.8% |
| 1996 | 12.0% | -9.2% |
| 1997 | 25.3% | +110.4% |
| 1998 | 36.9% | +46.2% |
| 1999 | 22.4% | -39.4% |
| 2000 | 12.6% | -43.6% |
| 2001 | 11.1% | -12.2% |
| 2002 | 11.7% | +5.1% |
| 2003 | 7.7% | -34.0% |
| 2004 | 8.9% | +15.3% |
| 2005 | 8.9% | +0.1% |
| 2006 | 7.6% | -15.1% |
| 2007 | 7.6% | +1.0% |
| 2008 | 9.4% | +22.7% |
| 2009 | 9.1% | -2.4% |
| 2010 | 10.9% | +18.9% |
| 2011 | 10.1% | -7.3% |
| 2012 | 13.6% | +34.8% |
| 2013 | 15.3% | +13.1% |
| 2014 | 14.4% | -6.0% |
| 2015 | 13.3% | -7.6% |
| 2016 | 11.7% | -12.4% |
| 2017 | 11.1% | -4.8% |
| 2018 | 12.3% | +10.9% |
| 2019 | 12.9% | +5.1% |
| 2020 | 4.2% | -67.8% |
| 2021 | 2.0% | -52.0% |
| 2022 | 7.4% | +269.1% |
| 2023 | 14.4% | +94.0% |
| 2024 | 18.2% | +26.6% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 5.0% | 2.7% | 7.4% | 6 |
| 1990s | 16.3% | 5.8% | 36.9% | 10 |
| 2000s | 9.5% | 7.6% | 12.6% | 10 |
| 2010s | 12.6% | 10.1% | 15.3% | 10 |
| 2020s | 9.2% | 2.0% | 18.2% | 5 |
Countries ranked near Lao People's Democratic Republic
- 110 Slovakia 18.8% compare
- 111 Lesotho 18.8% compare
- 112 Philippines 18.4% compare
- 114 Senegal 18.1% compare
- 115 Republic of Korea 17.9% compare
- 116 Syrian Arab Republic 17.7% compare
More economy & growth data for Lao People's Democratic Republic
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 3.39 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 4.6 Percent per annum (2029)
- Gross capital formation (constant 2015 US$), annual growth rate 7 % change on previous year (2016)
- Gross capital formation (constant 2015 US$), per unit of GDP 0.3061 constant 2015 US$ per US$ of GDP (2016)
- Gross capital formation (constant 2015 US$), per capita 705.07 constant 2015 US$ per person (2016)
- Imports of goods and services (current US$), annual growth rate -10.9 % change on previous year (2016)
- Imports of goods and services (current US$), per unit of GDP 0.4188 current US$ per US$ of GDP (2016)
- Imports of goods and services (current US$), per capita 964.65 current US$ per person (2016)
- Imports of goods and services (current LCU), annual growth rate -10.93 % change on previous year (2016)
- Imports of goods and services (current LCU), per unit of GDP 3,403 current LCU per US$ of GDP (2016)
Frequently asked questions
- What is trade in services in Lao People's Democratic Republic?
- Trade in services in Lao People's Democratic Republic was 18.2% in 2024, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest trade in services recorded in Lao People's Democratic Republic?
- The highest recorded value was 36.9% in 1998.
- What is the lowest trade in services recorded in Lao People's Democratic Republic?
- The lowest recorded value was 2.0% in 2021.
- How does Lao People's Democratic Republic rank for trade in services?
- Lao People's Democratic Republic ranks 113th out of 200 countries with data for 2024.
- Is trade in services rising or falling in Lao People's Democratic Republic?
- Over the last ten years it is up 26.0%. The long-run trend across the full record is volatile.
- Where does this Lao People's Democratic Republic data come from?
- The figures come from Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Trade in services (% of GDP). Statizoid updates them automatically from the source API.
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About this data
Total trade in services includes services provided by residents to non-residents plus services provided by non-residents to residents. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.