Economy of Laos
|
GDP (billion USD)
|
11,6
|
Inflation Rate (%)
|
6,5
|
|
Real GDP Growth Rate (%)
|
8,1
|
Unemployment Rate (%)
|
2,5
|
|
Population (million)
|
6,9
|
Exports (fob-billion USD)
|
4,7
|
|
Population Growth Rate (%)
|
0,163
|
Imports (fob-billion USD)
|
7,3
|
|
GDP Per Capita (USD)
|
1.481
|
Number of Turkish Firms in the Country
|
-
|
References: EIU, IMF, TÜİK, Trademap
Main Trade Partners: China, Thailand, Japan, Germany, UK.
Main Export Items: Wood and articles of wood, wood charcoal, copper and articles thereof, mineral fuels, oils, distillation products, etc, ores, slag and ash, Articles of apparel, accessories, not knit or crochet, electrical, electronic equipment, rubber and articles thereof.
Main Import Items: Electrical, electronic equipment, mineral fuels, oils, distillation products, etc, vehicles other than railway, tramway, machinery, nuclear reactors, boilers, etc,
Bilateral Economic and Commercial Relations:
|
YEARS
|
EXPORT
|
IMPORT
|
VOLUME
|
BALANCE
|
|
2011
|
3.996
|
1.153
|
5.149
|
2.844
|
|
2012
|
2.917
|
1.786
|
4.703
|
1.132
|
|
2013
|
5.953
|
2.539
|
8.492
|
3.414
|
|
2014
|
4.820
|
2.396
|
7.256
|
2.424
|
|
2015
|
1.437
|
1.483
|
2.875
|
-1
|
Reference: TÜİK (thousand USD)
Main Export Items of Türkiye: Meat and edible offal of poultry, sunflower, safflower, cotton-seed oil and fractions thereof, prepared or preserved meat, meat offal or blood, turnover, production counters, taximeters, kilometer, pedometer etc. speed indicators and tachometers, stroboscopes, auto spare parts.
Main Import Items of Türkiye: Apparel, garment and knitwear products, leather and rubbers, leaves for veneer, plywood, etc., parts and accessories for road vehicles.
In order to establish a legal framework for bilateral commercial and economic relations, Türkiye signed the Trade and Economic Cooperation Agreement with Laos in 2008, which came into force in 2010.
In accordance with the Trade and Economic Cooperation Agreement, a Joint Economic Committee (JEC) was established to address the state of bilateral economic and commercial relations.
Between Türkiye and Laos there is not a Business Council mechanism.
There is no Turkish firms registred in Laos.
Türkiye has no direct foreign investment in Laos.
Laos has no direct foreign investment in Türkiye
Türkiye’s Official Development Assistance in Laos values 390.000 USD between years of 2008 and 2013 in total.
In order to contribute the development of Laos since 2008, Turkish Cooperation and Coordination Agency (TİKA) has involved in various projects such as financial support for a construction of hospital, medical equipment aid for cardiology department and donation of two ambulances with full medical devices.
The number of visitors from Laos to Türkiye has not been declared especially by Turkish Statistical Institute (TÜİK), the figure of Laotian visitors been shown under the categories of “Other Southeast Countries”, excluding countries of the region such as Indonesia, Malaysia, Philippines, Singapore and Thailand. The number of visitors from aforementioned countries to Türkiye is increasing regularly on yearly basis. The number of visitors from this region has reached 120.047 in 2015.