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 ( 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.