Lao PDR Economic Monitor, May 2011 : Robust Growth amidst Inflationary Concerns
Lao PDR's real Gross Domestic Product (GDP) growth will remain robust in 2011 with projected growth of 8.6 percent compared to 8.4 percent in 2010. Natural resources and manufacturing sectors are expected to drive growth this year. The expecte...
| Main Author: | |
|---|---|
| Language: | English en_US |
| Published: |
World Bank, Vientiane
2017
|
| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/179001468045025924/Lao-PDR-economic-monitor-robust-growth-amidst-inflationary-concerns http://hdl.handle.net/10986/27247 |
| Summary: | Lao PDR's real Gross Domestic
Product (GDP) growth will remain robust in 2011 with
projected growth of 8.6 percent compared to 8.4 percent in
2010. Natural resources and manufacturing sectors are
expected to drive growth this year. The expected growth in
the garment exports (by about 15-20 percent in this year)
follows the European Union (EU) relaxation in raw material
sourcing requirement and increased orders by key garment
producers. The service sector also shows signs of
improvement, particularly in transport, tourism (hotels and
restaurants) and retail trading. Agriculture (fishery,
livestock and crops) is expected to benefit from the recent
increase in regional demand and higher food prices. Out of
8.6 percent growth in 2011, about 3.6 percentage points come
from the resource sectors, about 1 percentage point each
from manufacturing and agriculture, 0.5 percentage points
from construction and 2.5 percentage points from services.
Although overall trade balance is expected to improve the
current account deficit is expected to widen slightly too
about 9.4 percent of GDP in 2011 from about 8.6 percent in
2010 mainly on the account of larger transfers of profits
and debt service payments abroad by large resource projects.
Thus, resource current account surplus is expected to
decrease to 4.8 percent of GDP in this year from about 5.5
percent in 2010. |
|---|