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Economy of Laos vs Singapore compared: GDP & Debt

Updated on by Georank team

Laos has a GDP of $16.5B compared to $547B for Singapore, ranking 139/197 and 28/197 by economy size, respectively.

Laos has $16.6B in government debt (100.5% of GDP), compared to $950B (173.5% of GDP) in Singapore.

Laos vs Singapore GDP by year

Laos
Singapore
1x
Year GDP, current $
Laos Singapore
2024 $16,502,933,121 $547,386,645,892
2023 $15,843,155,731 $505,439,514,078
2022 $15,468,785,204 $509,017,841,147
2021 $18,827,148,531 $436,591,382,250
2020 $18,981,805,250 $349,165,858,545
2019 $18,740,561,513 $376,161,998,830
2018 $18,141,641,090 $377,123,710,561
2017 $17,071,155,481 $343,673,334,902
2016 $15,912,501,723 $319,646,468,521
2015 $14,426,380,126 $307,998,545,269
2014 $13,279,245,886 $314,863,580,758
2013 $11,983,252,627 $307,576,360,585
2012 $10,192,846,339 $295,092,888,077
2011 $8,750,104,617 $279,356,499,090
2010 $7,131,771,015 $239,807,980,591
2009 $5,836,137,330 $194,150,283,772
2008 $5,446,433,157 $193,617,323,539
2007 $4,223,152,739 $180,941,701,358
2006 $3,455,030,061 $148,627,286,361
2005 $2,735,558,735 $127,807,848,728
2004 $2,366,398,120 $115,033,593,101
2003 $2,023,324,407 $97,646,401,096
2002 $1,758,176,653 $92,538,372,870
2001 $1,768,619,058 $89,793,790,670
2000 $1,731,198,022 $96,076,539,926
1999 $1,454,430,642 $86,286,849,755
1998 $1,280,177,839 $85,728,207,782
1997 $1,747,011,857 $100,123,787,215
1996 $1,873,671,550 $96,293,086,513
1995 $1,763,536,305 $87,812,540,788
1994 $1,543,606,345 $73,688,724,431
1993 $1,327,748,690 $60,603,815,716
1992 $1,127,806,945 $52,131,320,033
1991 $1,028,087,972 $45,466,164,978
1990 $865,559,879 $36,144,336,769
1989 $714,046,821 $30,465,364,739
1988 $598,961,269 $25,371,462,488
1987 $1,087,273,104 $20,919,215,578
1986 $1,776,842,097 $18,586,746,057
1985 $2,366,666,616 $19,156,532,746
1984 $1,757,142,856 $19,749,361,098
1983 - $17,784,112,150
1982 - $16,084,252,378
1981 - $14,175,228,844
1980 - $11,896,256,783
1979 - $9,296,921,724
1978 - $7,517,176,355
1977 - $6,618,585,074
1976 - $6,327,077,974
1975 - $5,633,673,930
1974 - $5,221,534,956
1973 - $3,696,213,333
1972 - $2,721,440,981
1971 - $2,263,785,444
1970 - $1,920,574,150
1969 - $1,659,893,768
1968 - $1,425,706,091
1967 - $1,238,035,816
1966 - $1,096,425,608
1965 - $974,644,096
1964 - $894,153,311
1963 - $917,608,012
1962 - $826,239,212
1961 - $764,629,788
1960 - $704,751,700

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

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

GDP per capita in Laos vs Singapore by year

Laos
GDP per capita

GDP per capita, PPP
Singapore
GDP per capita

GDP per capita, PPP
1x
Year Current $
Laos Singapore
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $2,124 $9,776 $90,674 $150,689
2023 $2,067 $9,292 $85,412 $143,786
2022 $2,046 $8,766 $90,299 $143,095
2021 $2,526 $8,080 $80,056 $132,617
2020 $2,584 $7,913 $61,410 $101,518
2019 $2,589 $7,743 $65,952 $105,335
2018 $2,545 $7,487 $66,882 $103,963
2017 $2,432 $7,142 $61,236 $95,744
2016 $2,303 $6,743 $57,006 $89,902
2015 $2,121 $6,086 $55,646 $87,156
2014 $1,981 $5,799 $57,565 $84,555
2013 $1,813 $5,222 $56,967 $83,088
2012 $1,564 $4,781 $55,548 $82,108
2011 $1,362 $4,100 $53,891 $80,052
2010 $1,126 $3,772 $47,237 $75,401
2009 $935 $3,485 $38,927 $66,213
2008 $886 $3,271 $40,009 $67,735
2007 $697 $3,021 $39,433 $68,805
2006 $579 $2,777 $33,768 $64,061
2005 $466 $2,519 $29,961 $58,822
2004 $409 $2,315 $27,608 $54,384
2003 $355 $2,151 $23,730 $48,778
2002 $313 $2,020 $22,160 $45,083
2001 $320 $1,908 $21,700 $43,109
2000 $319 $1,794 $23,853 $43,781
1999 $272.3 $1,686 $21,797 $39,949
1998 $243.9 $1,577 $21,829 $37,560
1997 $339 $1,528 $26,376 $39,286
1996 $371 $1,435 $26,233 $36,873
1995 $358 $1,349 $24,915 $35,090
1994 $321 $1,265 $21,552 $33,058
1993 $283.4 $1,176 $18,290 $30,062
1992 $247.3 $1,114 $16,136 $27,022
1991 $231.8 $1,061 $14,502 $25,530
1990 $200.7 $1,012 $11,862 $23,815
1989 $170.4 - $10,395 -
1988 $147.1 - $8,914 -
1987 $274.7 - $7,539 -
1986 $462 - $6,800 -
1985 $633 - $7,002 -
1984 $483 - $7,228 -
1983 - - $6,633 -
1982 - - $6,078 -
1981 - - $5,597 -
1980 - - $4,928 -
1979 - - $3,901 -
1978 - - $3,194 -
1977 - - $2,846 -
1976 - - $2,759 -
1975 - - $2,490 -
1974 - - $2,342 -
1973 - - $1,685 -
1972 - - $1,264 -
1971 - - $1,071 -
1970 - - $926 -
1969 - - $813 -
1968 - - $709 -
1967 - - $626 -
1966 - - $567 -
1965 - - $517 -
1964 - - $486 -
1963 - - $511 -
1962 - - $472 -
1961 - - $449 -
1960 - - $428 -

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

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

Laos' GDP per capita is $2,124, ranking 155/197, compared to $90,674 in Singapore, ranking 7/197. Adjusted for purchasing power (GDP per capita PPP), Laos ranks 134th at $9,776, while Singapore ranks 2nd at $150,689.

Economic indicators

Laos Singapore
Gross domestic product
$16.5B
2024
$547B
2024
GDP rank
139/197
2024
28/197
2024
GDP growth
4.13%
2023-2024
4.39%
2023-2024
GDP per capita
$2,124
2024
$90,674
2024
GDP per capita rank
155/197
2024
7/197
2024
GDP per capita, PPP
$9,776
2024
$150,689
2024
GDP per capita PPP rank
134/197
2024
2/197
2024
Government debt
$16.6B
2024
$950B
2024
Debt-to-GDP ratio
100.5%
2024
173.5%
2024
Government debt per person
$2,134
2024
$157,326
2024
Government debt per person rank
119/185
2024
1/185
2024
Average annual personal income after taxes
$2,096
2026
$52,793
2026
Market capitalization of domestic companies n/a
$638B
2024
Number of millionaires n/a
331,000
2025
Number of billionaires n/a
49
2025
Income share by richest 10%
31.2%
2018
n/a
Income share by poorest 10%
3%
2018
n/a
Government expenditure, % of GDP
15.7%
2024
14.6%
2024
Consumer prices inflation
23.1%
2023-2024
2.39%
2023-2024
Unemployment rate
1.21%
2022
2.74%
2024
Population
8004838
6125852

Spending and national debt comparison by year

Laos
Spending

Debt
Singapore
Spending

Debt
1x
Year % of GDP
Laos Singapore
Government spending Government debt Government spending Government debt
2024 15.7% 100.5% 14.6% 173.5%
2023 16.4% 116.5% 14.8% 172.8%
2022 14.7% 130.7% 15% 154.3%
2021 15.7% 92.9% 15.6% 141.7%
2020 18.4% 76% 24.1% 148.2%
2019 18.6% 69.1% 14% 127.9%
2018 20.7% 60.6% 13.9% 109.4%
2017 21.8% 57.2% 13.6% 107.6%
2016 21.1% 54.5% 15.3% 106.3%
2015 25.8% 53.1% 14.4% 102.2%
2014 25% 53.5% 12.6% 97.7%
2013 24.2% 49.5% 10.9% 98.2%
2012 24.7% 46.1% 9.83% 106.7%
2011 20.2% 43% 9.66% 103.1%
2010 22.4% 49.3% 10.2% 98.7%
2009 20.1% 51.8% 15.9% 101.7%
2008 16.1% 51.7% 14% 97.9%
2007 15.1% 55.9% 9.01% 87.8%
2006 14.7% 60% 12.3% 86.5%
2005 15.3% 73.2% 12.4% 92.7%
2004 13.6% 80.7% 14.1% 95.7%
2003 16% 90.1% 15.6% 99.1%
2002 16.6% 95.3% 15.9% 96.3%
2001 18.8% 94.7% 18.2% 94.5%
2000 19.9% - 16.1% 82.3%
1999 - - 15.9% 85.3%
1998 - - 18.1% 84.6%
1997 - - 14.5% 70.8%
1996 - - 18.1% 71.3%
1995 - - 13.8% 69.8%
1994 - - 11.7% 70.7%
1993 - - 14.5% 71.2%
1992 - - 14.5% 79%
1991 - - 15.9% 76.4%
1990 - - 15.1% 73.5%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

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

In 2024, Laos' government spending was $2.58B, accounting for 15.7% of its GDP, while Singapore spent $79.7B, or 14.6% of GDP.

Debt-to-GDP ratio is 100.5% in Laos and 173.5% in Singapore, ranking 24/185 and 4/185, respectively.

Government deficit by year

Deficit/surplus
Laos

Singapore
1x
Year Deficit/surplus, % of GDP
Laos Singapore
2024 2.34% 4.44%
2023 -0.01% 3.47%
2022 0.06% 1.21%
2021 -0.67% 1.13%
2020 -5.37% -6.73%
2019 -3.2% 3.77%
2018 -4.46% 3.68%
2017 -5.51% 5.24%
2016 -5.06% 3.25%
2015 -5.57% 2.86%
2014 -3.13% 4.6%
2013 -4.03% 5.96%
2012 -2.34% 7.34%
2011 -1.43% 7.96%
2010 -1.47% 5.68%
2009 -3.1% -0.09%
2008 -1.86% 3.59%
2007 -1.12% 7.12%
2006 -1.48% 2.16%
2005 -2.54% 2.56%
2004 -1.81% 2.06%
2003 -3.89% 0.68%
2002 -2.85% 2.23%
2001 -3.68% 1.2%
2000 -3.58% 4.59%
1999 - 5.2%
1998 - 2.41%
1997 - 5.66%
1996 - 1.98%
1995 - 4.8%
1994 - 7.9%
1993 - 4.36%
1992 - 2.7%
1991 - 0.68%
1990 - 1.97%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

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

In 2024, Laos' government surplus, the difference between spending and revenue, was $386M, equivalent to 2.34% of GDP. This compares to Singapore's surplus of $24.3B, or 4.44% of GDP.

Over the past 25 years, Laos recorded a fiscal deficit in 23 of those years, while Singapore ran a deficit in 2 years. On average, Laos posted an annual deficit equal to 2.63% of GDP, compared to surplus of 3.2% of GDP for Singapore.

Inflation comparison by year

Inflation
Laos

Singapore
1x
Year Consumer prices inflation
Laos Singapore
2024 23.1% 2.39%
2023 31.2% 4.83%
2022 23% 6.13%
2021 3.8% 2.32%
2020 5.1% -0.17%
2019 3.3% 0.57%
2018 2% 0.44%
2017 0.8% 0.58%
2016 1.6% -0.53%
2015 1.3% -0.52%
2014 4.1% 1.03%
2013 6.4% 2.36%
2012 4.3% 4.58%
2011 7.6% 5.25%
2010 6% 2.83%
2009 0.1% 0.59%
2008 7.6% 6.64%
2007 4.7% 2.11%
2006 6.5% 0.97%
2005 7.2% 0.43%
2004 10.5% 1.66%
2003 15.5% 0.51%
2002 10.6% -0.39%
2001 7.8% 1%
2000 8.4% 1.36%
1999 128.4% 0.02%
1998 90.1% -0.27%
1997 19.5% 2%

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/singapore | CC BY

Over the past 28 years, Laos has recorded an average annual inflation rate of 15.7%, compared with 1.74% in Singapore. In 2024, inflation was 23.1% in Laos and 2.39% in Singapore.

Top exports between countries

Laos
Export category Export value
Textiles & consumer goods $44.8M
Precious metals & jewellery $40.1M
Raw materials & minerals $24M
Processed food, beverages & tobacco $2.18M
Machinery & equipment $243K
Chemicals & pharma $35K
Raw agricultural goods $27K
Wood & paper products $5K
Singapore
Export category Export value
Machinery & equipment $28.8M
Chemicals & pharma $24.1M
Processed food, beverages & tobacco $6.98M
Raw materials & minerals $1.97M
Textiles & consumer goods $1.55M
Precious metals & jewellery $567K
Miscellaneous $424K
Metals $129K
Raw agricultural goods $117K
Wood & paper products $30K

Balance of trade

Laos Singapore
Current account balance
$531M
2024
$96B
2024
Current account balance ranking
61/190
2024
8/190
2024
Current account balance, % of GDP
+3.22%
2024
+17.5%
2024
Goods imports
$8.66B
2024
$435B
2024
Goods exports
$9.39B
2024
$583B
2024
Service imports
$1.27B
2024
$351B
2024
Service exports
$1.73B
2024
$396B
2024
Imports of goods and services, % of GDP
41.9%
2016
143.6%
2024
Exports of goods and services, % of GDP
33.2%
2016
178.8%
2024

Economic freedom indices

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

Laos Singapore
Economic freedom 50.9 84.4
Economic freedom ranking 157/197 1/197
Property rights 41.1 89.2
Government integrity 25.9 86.1
Judicial effectiveness 10.2 58.3
Tax burden 88.5 89.5
Government spending 92.7 93.4
Fiscal health 80 80
Business freedom 54.2 90.6
Labor freedom 40.7 77
Monetary freedom 53.3 83.5
Trade freedom 69 95
Investment freedom 35 90
Financial freedom 20 80

Economic freedom comparison by year

Laos
Singapore
1x
Year Economic freedom index
Laos Singapore
2026 50.9 84.4
2025 51.1 84.1
2024 50.6 83.5
2023 50.3 83.9
2022 49.2 84.4
2021 53.9 89.7
2020 55.5 89.4
2019 57.4 89.4
2018 53.6 88.8
2017 54 88.6
2016 49.8 87.8
2015 51.4 89.4
2014 51.2 89.4
2013 50.1 88
2012 50 87.5
2011 51.3 87.2
2010 51.1 86.1
2009 50.4 87.1
2008 50.3 87.3
2007 50.3 87.1
2006 47.5 88
2005 44.4 88.6
2004 42 88.9
2003 41 88.2
2002 36.8 87.4
2001 33.5 87.8
2000 36.8 87.7
1999 35.2 86.9
1998 35.2 87
1997 35.1 87.3
1996 38.5 86.5
1995 - 86.3

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

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

The Economic Freedom Index for Laos is 50.9, ranking 157/197, compared to 84.4 for Singapore, ranking 1/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Laos Singapore
Services, % of GDP
43.5%
2024
73%
2024
Industry, % of GDP
29%
2024
21.4%
2024
Agriculture, forestry, and fishing, % of GDP
16.8%
2024
0.03%
2024
GNI, Atlas method
$15.5B
2024
$451B
2024
GNI per capita, PPP
$9,160
2024
$126,190
2024
Total reserves including gold
$1.77B
2023
$384B
2024
Total reserves ranking
129/177
2023
9/177
2024
Net foreign direct investment
-$988M
2024
-$96.7B
2024
Net inflows of foreign direct investment
$988M
2024
$152B
2024
Net outflows of foreign direct investment
$0
2024
$55.3B
2024
Servicing debt to the IMF, % of GNI
13.8%
2024
n/a
Poverty at national poverty lines
22%
2020
n/a
Gross capital formation, % of GDP
29%
2016
22.2%
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/singapore | 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. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. TradeMap (2023–2024, 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)

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.