Laos Economy

The Laotian economy with a population of 6,695 million (est. 2013) ranks 124th in the world. It has a GDP PPP of approximately 20 billion and GDP PPP per capita of $3,068 vs. $53,101 (United States) according to the IMF in 2013. The national currency is the Lao kip(LAK) that is issued by Bank of the Lao P.D.R (www.bol.gov.la). Banks within the country offer variable and fixed interest deposit products including savings accounts, current accounts and fixed deposit accounts. The CIA website estimates the inflation to have been 6.5% in 2013 and 4.3% in 2012.