Laos to see better economic growth in 2023, 2024

Thanks to a recovery in services and private sector investments as pandemic restrictions eased throughout the region.

The ADB's flagship publication Asian Development Outlook April 2023 forecasts Laos will achieve gross domestic product growth of 4 per cent in 2023 and 2024 while last year, the institution predicted a growth rate of 2.5 per cent for the country.

Transit freight is expected to continue its steady expansion, with 1.3 million passengers and 1.9 million tonnes of cargo transported through the Laos-China railway in 2022. Almost two-thirds of the population is currently in working age. Young workforce means that more people have the potential to be productive and contribute to economic growth.

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