Gross Domestic Product Per Capita for Lao People's Democratic Republic
PCAGDPLAA646NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,123.98
Year-over-Year Change
35.84%
Date Range
1/1/1984 - 1/1/2024
Summary
This economic trend measures the Gross Domestic Product (GDP) per capita for the Lao People's Democratic Republic, providing insights into the country's economic output and standard of living.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The GDP per capita is a key metric that reflects the total economic output of a country divided by its population, offering a gauge of a nation's economic performance and the typical income level of its citizens.
Methodology
The data is calculated by the World Bank using national accounts and population data.
Historical Context
This trend is widely used by economists, policymakers, and investors to assess Laos' economic development and compare its progress to other countries.
Key Facts
- Lao PDR's GDP per capita was $2,572 in 2021.
- The country has experienced steady economic growth in recent decades.
- Lao PDR is classified as a lower-middle-income economy by the World Bank.
FAQs
Q: What does this economic trend measure?
A: This trend measures the Gross Domestic Product per capita for the Lao People's Democratic Republic, which reflects the country's total economic output divided by its population.
Q: Why is this trend relevant for users or analysts?
A: The GDP per capita is a key indicator of a country's economic performance and living standards, making it relevant for economists, policymakers, and investors analyzing Laos' economic development.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts and population figures.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess Laos' economic progress, benchmark its performance against other countries, and inform decisions on economic development strategies.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, with a potential delay of up to a year or more in the most recent figures.
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Citation
U.S. Federal Reserve, Gross Domestic Product Per Capita for Lao People's Democratic Republic (PCAGDPLAA646NWDB), retrieved from FRED.