Lao PDR

Accelerating Structural Transformation for Inclusive Growth

Nonfiction, Science & Nature, Technology, Technical & Manufacturing Industries & Trades, Business & Finance, Economics, Economic Development
Cover of the book Lao PDR by Asian Development Bank, Asian Development Bank
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Author: Asian Development Bank ISBN: 9789292579944
Publisher: Asian Development Bank Publication: November 1, 2017
Imprint: Asian Development Bank Language: English
Author: Asian Development Bank
ISBN: 9789292579944
Publisher: Asian Development Bank
Publication: November 1, 2017
Imprint: Asian Development Bank
Language: English

The Lao People's Democratic Republic (Lao PDR) has shown remarkable progress by consistently building itself into a market-oriented economy, with economic growth in 1986-2016 averaging around 6.5% per annum. The rapid and sustained growth brought about changes in the structure of output, but did not alter job composition: resource-based products still dominate in industry, low value-added jobs in services, and 65% of the labor force in agriculture. This country diagnostic study provides comprehensive analysis and identifies promising new drivers of growth which the Lao PDR can develop to diversify its production structure and speed up structural transformation.

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The Lao People's Democratic Republic (Lao PDR) has shown remarkable progress by consistently building itself into a market-oriented economy, with economic growth in 1986-2016 averaging around 6.5% per annum. The rapid and sustained growth brought about changes in the structure of output, but did not alter job composition: resource-based products still dominate in industry, low value-added jobs in services, and 65% of the labor force in agriculture. This country diagnostic study provides comprehensive analysis and identifies promising new drivers of growth which the Lao PDR can develop to diversify its production structure and speed up structural transformation.

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