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Economy of Laos vs Paraguay compared: GDP & Debt

Updated on by Georank team

Laos has a GDP of $16.5B compared to $44.5B for Paraguay, ranking 139/197 and 98/197 by economy size, respectively.

Laos has $16.6B in government debt (100.5% of GDP), compared to $19.9B (44.8% of GDP) in Paraguay.

Laos vs Paraguay GDP by year

Laos
Paraguay
1x
Year GDP, current $
Laos Paraguay
2024 $16,502,933,121 $44,458,118,397
2023 $15,843,155,731 $43,118,053,175
2022 $15,468,785,204 $41,952,910,858
2021 $18,827,148,531 $39,950,899,939
2020 $18,981,805,250 $35,432,178,068
2019 $18,740,561,513 $37,925,338,329
2018 $18,141,641,090 $40,225,448,341
2017 $17,071,155,481 $38,997,129,474
2016 $15,912,501,723 $36,089,700,223
2015 $14,426,380,126 $36,211,447,840
2014 $13,279,245,886 $40,377,929,296
2013 $11,983,252,627 $38,501,122,141
2012 $10,192,846,339 $33,271,921,136
2011 $8,750,104,617 $33,756,238,766
2010 $7,131,771,015 $27,260,886,405
2009 $5,836,137,330 $22,355,151,162
2008 $5,446,433,157 $24,615,267,664
2007 $4,223,152,739 $17,856,393,235
2006 $3,455,030,061 $13,429,430,050
2005 $2,735,558,735 $10,737,500,188
2004 $2,366,398,120 $9,624,440,836
2003 $2,023,324,407 $7,691,367,471
2002 $1,758,176,653 $7,196,260,657
2001 $1,768,619,058 $8,495,806,432
2000 $1,731,198,022 $8,855,705,140
1999 $1,454,430,642 $8,837,070,236
1998 $1,280,177,839 $9,260,481,572
1997 $1,747,011,857 $9,965,225,678
1996 $1,873,671,550 $9,788,391,781
1995 $1,763,536,305 $9,062,131,475
1994 $1,543,606,345 $7,870,982,005
1993 $1,327,748,690 $7,249,533,620
1992 $1,127,806,945 $7,157,424,031
1991 $1,028,087,972 $6,984,367,763
1990 $865,559,879 $5,812,114,523
1989 $714,046,821 $4,757,732,200
1988 $598,961,269 $4,255,683,528
1987 $1,087,273,104 $3,971,044,724
1986 $1,776,842,097 $3,723,993,943
1985 $2,366,666,616 $3,282,449,236
1984 $1,757,142,856 $4,502,462,807
1983 - $5,673,248,726
1982 - $5,419,411,765
1981 - $5,624,515,873
1980 - $4,448,087,302
1979 - $3,416,777,778
1978 - $2,559,857,143
1977 - $2,092,158,730
1976 - $1,698,960,317
1975 - $1,511,420,635
1974 - $1,333,475,397
1973 - $995,531,746
1972 - $769,039,683
1971 - $664,571,429
1970 - $594,611,111
1969 - $556,293,651
1968 - $517,650,794
1967 - $492,674,603
1966 - $465,888,889
1965 - $443,587,302
1964 - $408,349,206
1963 - $383,904,762
1962 - $360,698,413
1961 - $322,053,713
1960 - $288,884,368

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/laos/paraguay | CC BY

GDP per capita in Laos vs Paraguay by year

Laos
GDP per capita

GDP per capita, PPP
Paraguay
GDP per capita

GDP per capita, PPP
1x
Year Current $
Laos Paraguay
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $2,124 $9,776 $6,416 $18,524
2023 $2,067 $9,292 $6,300 $17,564
2022 $2,046 $8,766 $6,206 $16,347
2021 $2,526 $8,080 $5,977 $15,406
2020 $2,584 $7,913 $5,365 $14,309
2019 $2,589 $7,743 $5,821 $14,150
2018 $2,545 $7,487 $6,258 $14,139
2017 $2,432 $7,142 $6,152 $13,977
2016 $2,303 $6,743 $5,775 $13,329
2015 $2,121 $6,086 $5,879 $12,679
2014 $1,981 $5,799 $6,652 $12,607
2013 $1,813 $5,222 $6,436 $12,137
2012 $1,564 $4,781 $5,642 $10,954
2011 $1,362 $4,100 $5,805 $11,442
2010 $1,126 $3,772 $4,751 $10,893
2009 $935 $3,485 $3,942 $9,802
2008 $886 $3,271 $4,385 $9,867
2007 $697 $3,021 $3,212 $9,179
2006 $579 $2,777 $2,439 $8,561
2005 $466 $2,519 $1,971 $8,007
2004 $409 $2,315 $1,786 $7,686
2003 $355 $2,151 $1,444 $7,276
2002 $313 $2,020 $1,368 $6,924
2001 $320 $1,908 $1,638 $6,916
2000 $319 $1,794 $1,736 $6,937
1999 $272.3 $1,686 $1,766 $7,080
1998 $243.9 $1,577 $1,890 $7,227
1997 $339 $1,528 $2,079 $7,299
1996 $371 $1,435 $2,088 $7,040
1995 $358 $1,349 $1,979 $6,966
1994 $321 $1,265 $1,760 $6,542
1993 $283.4 $1,176 $1,662 $6,234
1992 $247.3 $1,114 $1,683 $5,952
1991 $231.8 $1,061 $1,685 $5,873
1990 $200.7 $1,012 $1,440 $5,637
1989 $170.4 - $1,211 -
1988 $147.1 - $1,114 -
1987 $274.7 - $1,069 -
1986 $462 - $1,031 -
1985 $633 - $935 -
1984 $483 - $1,319 -
1983 - - $1,710 -
1982 - - $1,680 -
1981 - - $1,793 -
1980 - - $1,457 -
1979 - - $1,149 -
1978 - - $883 -
1977 - - $740 -
1976 - - $616 -
1975 - - $562 -
1974 - - $508 -
1973 - - $389 -
1972 - - $308 -
1971 - - $272.1 -
1970 - - $249 -
1969 - - $238.2 -
1968 - - $226.8 -
1967 - - $220.9 -
1966 - - $213.9 -
1965 - - $208.7 -
1964 - - $197 -
1963 - - $189.9 -
1962 - - $182.8 -
1961 - - $167.1 -
1960 - - $153.4 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/laos/paraguay | CC BY

Laos' GDP per capita is $2,124, ranking 155/197, compared to $6,416 in Paraguay, ranking 109/197. Adjusted for purchasing power (GDP per capita PPP), Laos ranks 134th at $9,776, while Paraguay ranks 102nd at $18,524.

Economic indicators

Laos Paraguay
Gross domestic product
$16.5B
2024
$44.5B
2024
GDP rank
139/197
2024
98/197
2024
GDP growth
4.13%
2023-2024
4.25%
2023-2024
GDP per capita
$2,124
2024
$6,416
2024
GDP per capita rank
155/197
2024
109/197
2024
GDP per capita, PPP
$9,776
2024
$18,524
2024
GDP per capita PPP rank
134/197
2024
102/197
2024
Government debt
$16.6B
2024
$19.9B
2024
Debt-to-GDP ratio
100.5%
2024
44.8%
2024
Government debt per person
$2,134
2024
$2,872
2024
Government debt per person rank
119/185
2024
103/185
2024
Average annual personal income after taxes
$2,096
2026
$6,136
2026
Market capitalization of domestic companies n/a
$313M
1999
Income share by richest 10%
31.2%
2018
35%
2024
Income share by poorest 10%
3%
2018
2%
2024
Government expenditure, % of GDP
15.7%
2024
21%
2024
Consumer prices inflation
23.1%
2023-2024
3.84%
2023-2024
Central bank interest rate n/a
6%
2024
Unemployment rate
1.21%
2022
5.69%
2024
Population
8004838
7120169

Spending and national debt comparison by year

Laos
Spending

Debt
Paraguay
Spending

Debt
1x
Year % of GDP
Laos Paraguay
Government spending Government debt Government spending Government debt
2024 15.7% 100.5% 21% 44.8%
2023 16.4% 116.5% 21.5% 41.1%
2022 14.7% 130.7% 20.2% 40.5%
2021 15.7% 92.9% 20.4% 37.5%
2020 18.4% 76% 22.6% 36.9%
2019 18.6% 69.1% 20.1% 25.8%
2018 20.7% 60.6% 18.5% 22.3%
2017 21.8% 57.2% 18.1% 19.8%
2016 21.1% 54.5% 17.7% 19.4%
2015 25.8% 53.1% 18% 18.6%
2014 25% 53.5% 17.1% 15.6%
2013 24.2% 49.5% 17.1% 13.5%
2012 24.7% 46.1% 17.6% 12.3%
2011 20.2% 43% 14.7% 11.1%
2010 22.4% 49.3% 13.3% 13%
2009 20.1% 51.8% 14.3% 14.9%
2008 16.1% 51.7% 11.8% 16%
2007 15.1% 55.9% 13.1% 16.8%
2006 14.7% 60% 14.1% 21%
2005 15.3% 73.2% 14% 28.3%
2004 13.6% 80.7% 14% 36%
2003 16% 90.1% 14.6% 37.5%
2002 16.6% 95.3% 17.6% 50.5%
2001 18.8% 94.7% 19% 37.1%
2000 19.9% - 19.6% 33.6%
1999 - - 19.2% 32%
1998 - - 18% 22.1%
1997 - - 18.1% 18%
1996 - - 16.9% 16.8%
1995 - - 15.7% 17.6%
1994 - - 14.5% 18.7%
1993 - - 12.9% 26.6%
1992 - - 13% 34.4%
1991 - - 11.4% 49.4%
1990 - - 10.5% 67%
1989 - - 11.8% 52.9%
1988 - - 9.75% 58.9%
1987 - - 10.1% 68.7%
1986 - - 9.25% 57.1%
1985 - - 11.4% 54.7%
1984 - - 13% 31%
1983 - - 13% 22.6%
1982 - - 13.2% 21.3%
1981 - - 13.3% 17.4%
1980 - - 11.6% 17.4%
1979 - - 11.7% 19.7%
1978 - - 11.9% 20.9%
1977 - - 11.2% 18.8%
1976 - - 9.8% 14.1%
1975 - - 10.5% 12.6%
1974 - - 9.44% 12.5%
1973 - - 11.2% 15.4%
1972 - - 12.5% 18.2%
1971 - - 12.3% 18.9%
1970 - - 13.3% 19.2%
1969 - - 14% -
1968 - - 13.5% -
1967 - - 12.2% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1967–1989, retrieved 2026-02-20).

GeoRank.org/economy/laos/paraguay | CC BY

In 2024, Laos' government spending was $2.58B, accounting for 15.7% of its GDP, while Paraguay spent $9.33B, or 21% of GDP.

Debt-to-GDP ratio is 100.5% in Laos and 44.8% in Paraguay, ranking 24/185 and 120/185, respectively.

Government deficit by year

Deficit/surplus
Laos

Paraguay
1x
Year Deficit/surplus, % of GDP
Laos Paraguay
2024 2.34% -2.12%
2023 -0.01% -3.81%
2022 0.06% -2.64%
2021 -0.67% -3.39%
2020 -5.37% -5.72%
2019 -3.2% -2.44%
2018 -4.46% -1.01%
2017 -5.51% -0.44%
2016 -5.06% -0.37%
2015 -5.57% -0.44%
2014 -3.13% -0.27%
2013 -4.03% -1.16%
2012 -2.34% -0.58%
2011 -1.43% 1.29%
2010 -1.47% 1.54%
2009 -3.1% 0.59%
2008 -1.86% 2.29%
2007 -1.12% 1.27%
2006 -1.48% 0.91%
2005 -2.54% 0.74%
2004 -1.81% 1.33%
2003 -3.89% -0.07%
2002 -2.85% -1.89%
2001 -3.68% 0.07%
2000 -3.58% -0.55%
1999 - 2.67%
1998 - 4.28%
1997 - 3%
1996 - 2.43%
1995 - 2.78%
1994 - 4.59%
1993 - 4.27%
1992 - 3.1%
1991 - 3.41%
1990 - 7.56%
1989 - 5.48%
1988 - 3.01%
1987 - 2.68%
1986 - 3.08%
1985 - 0.85%
1984 - -0.42%
1983 - 0.27%
1982 - 1.52%
1981 - 0.15%
1980 - 3.4%
1979 - 4.13%
1978 - -3.42%
1977 - -0.19%
1976 - -0.06%
1975 - -1.24%
1974 - 1.67%
1973 - -0.91%
1972 - -2.51%
1971 - -1.25%
1970 - -1.26%
1969 - -1.62%
1968 - -2.34%
1967 - -1.7%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1967–1989, retrieved 2026-02-20).

GeoRank.org/economy/laos/paraguay | CC BY

In 2024, Laos' government surplus, the difference between spending and revenue, was $386M, equivalent to 2.34% of GDP. This compares to Paraguay's deficit of $942M, or 2.12% of GDP.

Over the past 25 years, Laos recorded a fiscal deficit in 23 of those years, while Paraguay ran a deficit in 16 years. On average, Laos posted an annual deficit equal to 2.63% of GDP, compared to deficit of 0.67% of GDP for Paraguay.

Inflation comparison by year

Inflation
Laos

Paraguay
1x
Year Consumer prices inflation
Laos Paraguay
2024 23.1% 3.84%
2023 31.2% 4.63%
2022 23% 9.77%
2021 3.8% 4.79%
2020 5.1% 1.77%
2019 3.3% 2.76%
2018 2% 3.98%
2017 0.8% 3.6%
2016 1.6% 4.09%
2015 1.3% 3.13%
2014 4.1% 5.03%
2013 6.4% 2.68%
2012 4.3% 3.68%
2011 7.6% 8.25%
2010 6% 4.65%
2009 0.1% 2.59%
2008 7.6% 10.2%
2007 4.7% 8.13%
2006 6.5% 9.59%
2005 7.2% 6.81%
2004 10.5% 4.32%
2003 15.5% 14.2%
2002 10.6% 10.5%
2001 7.8% 7.27%
2000 8.4% 8.98%
1999 128.4% 6.75%
1998 90.1% 11.6%
1997 19.5% 6.95%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/laos/paraguay | CC BY

Over the past 28 years, Laos has recorded an average annual inflation rate of 15.7%, compared with 6.23% in Paraguay. In 2024, inflation was 23.1% in Laos and 3.84% in Paraguay.

Top exports between countries

Laos
Export category Export value
Paraguay
Export category Export value
Animal & marine products $95K

Balance of trade

Laos Paraguay
Current account balance
$531M
2024
-$1.53B
2024
Current account balance ranking
61/190
2024
133/190
2024
Current account balance, % of GDP
+3.22%
2024
-3.44%
2024
Goods imports
$8.66B
2024
$15.8B
2024
Goods exports
$9.39B
2024
$14.9B
2024
Service imports
$1.27B
2024
$2.54B
2024
Service exports
$1.73B
2024
$2.65B
2024
Imports of goods and services, % of GDP
41.9%
2016
39.6%
2024
Exports of goods and services, % of GDP
33.2%
2016
37.2%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Laos Paraguay
Economic freedom 50.9 66.4
Economic freedom ranking 157/197 61/197
Property rights 41.1 44.2
Government integrity 25.9 27.3
Judicial effectiveness 10.2 38.4
Tax burden 88.5 95.9
Government spending 92.7 86.9
Fiscal health 80 83
Business freedom 54.2 72
Labor freedom 40.7 44.1
Monetary freedom 53.3 76.5
Trade freedom 69 78.4
Investment freedom 35 80
Financial freedom 20 70

Economic freedom comparison by year

Laos
Paraguay
1x
Year Economic freedom index
Laos Paraguay
2026 50.9 66.4
2025 51.1 65.2
2024 50.6 60.1
2023 50.3 61
2022 49.2 62.9
2021 53.9 62.6
2020 55.5 63
2019 57.4 61.8
2018 53.6 62.1
2017 54 62.4
2016 49.8 61.5
2015 51.4 61.1
2014 51.2 62
2013 50.1 61.1
2012 50 61.8
2011 51.3 62.3
2010 51.1 61.3
2009 50.4 61
2008 50.3 60
2007 50.3 58.3
2006 47.5 55.6
2005 44.4 53.4
2004 42 56.7
2003 41 58.2
2002 36.8 59.6
2001 33.5 60.3
2000 36.8 64
1999 35.2 63.7
1998 35.2 65.2
1997 35.1 67.3
1996 38.5 67.1
1995 - 65.9

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/laos/paraguay | CC BY

The Economic Freedom Index for Laos is 50.9, ranking 157/197, compared to 66.4 for Paraguay, ranking 61/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Laos Paraguay
Services, % of GDP
43.5%
2024
48.7%
2024
Industry, % of GDP
29%
2024
32.5%
2024
Agriculture, forestry, and fishing, % of GDP
16.8%
2024
10.7%
2024
GNI, Atlas method
$15.5B
2024
$43.7B
2024
GNI per capita, PPP
$9,160
2024
$17,930
2024
Total reserves including gold
$1.77B
2023
$9.89B
2023
Total reserves ranking
129/177
2023
76/177
2023
Net foreign direct investment
-$988M
2024
-$335M
2024
Net inflows of foreign direct investment
$988M
2024
$1.1B
2024
Net outflows of foreign direct investment
$0
2024
$166M
2024
Servicing debt to the IMF, % of GNI
13.8%
2024
4.58%
2024
Poverty at national poverty lines
22%
2020
20.1%
2024
Gross capital formation, % of GDP
29%
2016
22.8%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/laos/paraguay | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1967–1989, retrieved 2026-02-20)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)
  8. Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)
  9. TradeMap (2024, retrieved 2026-02-08)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.