Laos is a country rich in resources. However, due to long-term colonial rule, foreign exploitation and plunder and decades of civil war, its rich resources have not been well developed and its economy is very backward. Since the founding of the Lao People's Democratic Republic, economic construction has gradually made progress, but it still faces many difficulties. At present, it is trying to eliminate the impact of the financial crisis. 200 1 The Seventh National Congress of the Lao Party has formulated the economic development plan from 200/KLOC-0 to 2005, and the average annual growth rate of Laos' GDP in the next five years will not be less than 7%. Laos plans to achieve a per capita GDP of $65,438 +0.5 million by 2020, basically getting rid of underdevelopment. Its task is rather arduous. At present, the main problems in economic development are: financial difficulties, shortage of funds, huge trade deficit, increasing foreign debt year by year and widening the gap between urban and rural areas.

Gross national product (2000): about1378 billion kip.

Per capita gross national product (2000): about $350.

Gross national product growth rate (2000): 5.9%.

Currency name: kip.

Exchange rate (200 1 year): 1 USD = 8500 kip.

Inflation rate (2000): 6.6%

aster

There are mineral deposits such as tin, lead, potassium, copper, iron, gold, gypsum, coal and salt, and a small amount of tin, gypsum, potassium, salt and coal has been mined so far. Water resources are abundant. The forest area is about 9 million hectares, and the forest coverage rate is about 42%, producing teak, rosewood and other precious wood.

Yegong

There are mainly power generation, sawing, rice milling, cigarettes, textiles, food, mining, clothing, pharmaceuticals and other enterprises, as well as small cement plants, repair shops, iron works and textile, ironmaking, ceramics, handicraft workshops and so on.

agricultural production

Laos is an agricultural country, and its agricultural population accounts for about 80% of the national population. The main products are rice, corn, potatoes, coffee, tobacco leaves, peanuts, cotton and so on. The cultivated land area in China is about 649,000 hectares (1.993).

1.994 rice yield reached1.5000 tons.

There is no seaport and railway transportation, mainly by road, water and air transportation. The Mekong River can be navigable through a section with a load of 20-200 tons.

Highway: total length14176 km; The freight volume is147,000 tons. ( 1993)

Waterway: the total length is 4600 kilometers; Passenger traffic was 703,300 passengers and freight volume was 289,700 tons. ( 1993)

Air transport: Wadai Airport in Vientiane is the only international airport, with six international routes leading to Kunming, Bangkok, Chiang Mai, Hanoi, Ho Chi Minh City and Phnom Penh. ( 1993)

Finance and money

The budget revenue of 1992 is 9149 billion kip, and the expenditure is 2138 billion kip. The difference is made up by foreign aid. By the end of 1992, the accumulated foreign debt was $8150,000, and the foreign exchange reserve was $66 million.

foreign trade

Laos has trade relations with more than 50 countries and regions. The total import and export volume of 1994 is $767.7 million, of which the export volume is about $31780 thousand and the import volume is about $449.9 million. At present, Laos implements a free trade policy, reforms the foreign trade system, reduces the export of raw materials, and increases the export of finished and semi-finished products. Important export commodities are under the unified management of the state. The main export products are: electricity, logs, plywood, coffee and gypsum. The main import products are: various vehicles, bicycles, fuel, cement, steel, paper, cloth, sugar and grain. The main foreign trade targets are Thailand, China and Viet Nam.

foreign capital

1April 2, 9941the revised foreign investment law promulgated by the old congress stipulates that the government will not interfere in the affairs of foreign-funded enterprises and allow them to remit profits. Foreign businessmen can establish wholly-owned enterprises and joint ventures in Laos, and the state will not tax foreign-funded enterprises for the first five years. As of 1997, the government has approved 656 foreign-funded projects with an agreed amount of 6.803 billion US dollars. The main investment countries and regions are Thailand, Japan, China, Taiwan Province Province of China, China, Viet Nam and France, among which Thailand has the most investment projects.

foreign aid

The main donor countries and organizations are: Japan, Australia, Sweden, China, Thailand and other institutions, such as the United Nations Development Programme, the International Monetary Fund, the World Bank and the Asian Development Bank. Foreign aid projects mainly include roads, bridges, docks, communications, hydropower stations, farmland water conservancy and so on.