Lao PDR Economic Monitor, May 2011
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World Bank, Vientiane
Resumen
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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.
Palabras clave
ATM, BALANCE OF PAYMENTS, BARRIERS TO ENTRY, CHECKS, CLEARANCE SYSTEMS, CLEARANCE SYSTEMS, COMMODITY PRICES, COMPETITIVE DISADVANTAGE, COMPETITIVE DISADVANTAGE, CREDIT UNIONS, CREDIT UNIONS, CURRENT ACCOUNT, CURRENT ACCOUNT, CURRENT ACCOUNT SURPLUS, CURRENT ACCOUNT BALANCE, CURRENT ACCOUNT DEFICIT, DEBT SERVICE PAYMENTS, DEBT SERVICE PAYMENTS, DEBT SERVICES, DOMESTIC MARKET, DOMESTIC MARKET, DOMESTIC PRICE, DOMESTIC PRICE, EXCHANGE RATE POLICY, EXCHANGE RATE POLICY, EXPORT EARNINGS, EXPORT GROWTH, EXPORT PRICE, EXPORT VALUE, EXPORT VALUECOMMODITY PRICES, FOOD EXPORTS, FOOD EXPORTS, FREE TRADE AREA, FREE TRADE AREA, GLOBAL INTEGRATION, GLOBAL INTEGRATION, INTELLECTUAL PROPERTY, INTELLECTUAL PROPERTY, INTERNATIONAL STANDARDS, INVESTMENT INCENTIVES, NATIONAL TREATMENT, NATIONAL TREATMENT, NEIGHBORING COUNTRIES, NEIGHBORING COUNTRIES, NON-OIL COMMODITIES, PARTNER COUNTRIES, PARTNER COUNTRIES, PAYMENT SYSTEM, PAYMENT SYSTEMS, PAYMENTS, PREFERENTIAL TARIFF, PRICES, PRIVATE CREDITS, REGULATORY FRAMEWORK, REGULATORY FRAMEWORK, ROYALTIES, SALARY PAYMENTS, SALARY PAYMENTS, TRADE AREA, TRADE DEFICIT, TRADE DEFICIT, TRADE FACILITATION, TRADE FACILITATION ISSUES, TRADE FACILITATION ISSUES, TRADE INTEGRATION, TRADE REFORM, TRADE VOLUME, TRADE VOLUME, WORLD ECONOMY, WORLD ECONOMY, WORLD OUTPUT, WORLD OUTPUT, WORLD TRADE, WORLD TRADE ORGANIZATION, ZERO TARIFF