Laos, Vietnam & Cambodia

Laos Long form of country name: Lao People's Democratic Republic Location: Southeastern Asia northeast of Thailand, west of Vietnam

Economy overview The government of Laos - one of the few remaining official Communist states - began decentralizing control and encouraging private enterprise in 1986. The results, starting from an extremely low base, were striking - growth averaged 6% in 1988-2004 . Despite this high growth rate, Laos remains a country with a primitive infrastructure; it has no railroads, a rudimentary road system, and limited external and internal telecommunications. Subsistence agriculture accounts for half of GDP and provides 80% of total employment. The economy will continue to benefit from aid from the IMF and other international sources and from new foreign investment in food processing and mining.

Economic figures (2004 est.) GDP (purchasing power parity): $11.28 billion GDP - real growth rate: 6% GDP - per capita: PPP - $1,900 Industries: tin and gypsum mining, timber, electric power, agricultural processing, construction, garments, tourism Inflation rate (consumer prices): 12.3% Debt - external: $2.50 billion

GDP - composition by sector (2004 est.):

Export points (2004 est.) Exports: $365.5 million Exports - commodities: garments, wood products, coffee, electricity, tin. Exports - partners: Thailand - 19.3%, Vietnam - 13.4%, France - 8%, Germany - 5.3%, UK 5%.

Import points (2004 est.) Imports: $579.5 million f.o.b. Imports - commodities: machinery and equipment, vehicles, fuel, consumer goods. Imports - partners: Thailand - 60.5%, China - 10.3%, Vietnam - 7.1%, Singapore - 4%.

Vietnam Socialist Republic of Vietnam Long form of country name: Socialist Republic of Vietnam Location: Southeastern Asia, bordering the Gulf of Thailand, Gulf of Tonkin, and South China Sea, alongside China, Laos, and Cambodia

Economy overview Vietnam is a densely-populated, developing country that in the last 30 years has had to recover from the ravages of war, the loss of financial support from the old Soviet Bloc, and the rigidities of a centrally planned economy. Substantial progress was achieved from 1986 to 1997 in moving forward from an extremely low level of development and significantly reducing poverty. Vietnam's membership in the ASEAN Free Trade Area (AFTA) and entry into force of the US-Vietnam Bilateral Trade in December 2001 have led to even more rapid changes in Vietnam's trade and economic regime. However, in 2004, high levels of inflation prompted Vietnamese authorities to tighten monetary and fiscal policies.

Economic figures (2004 est.) GDP (purchasing power parity): $227.2 billion GDP - real growth rate: 7.7% GDP - per capita: PPP - $2,700 Unemployment rate: 1.9% Inflation rate consumer prices): 9.5% Investment (gross fixed): 36.6% of GDP Industries: food processing, garments, shoes, machine-building, mining, cement, chemical fertilizer, glass, tires, oil, coal, steel, paper Debt - external: $16.55 billion

Export points (2004 est.) Exports: $23.72 billion f.o.b. Exports - commodities: crude oil, marine products, rice, coffee, rubber, tea, garments, shoes Exports - partners: US - 20.2%, Japan - 13.6%, China - 9%, Australia - 7%, Germany - 5.9%, Singapore - 4.8%, UK - 4.6%.

Import points (2004 est.) Imports: $26.31 billion f.o.b. Imports - commodities: machinery and equipment, petroleum products, fertilizer, steel products, raw cotton, grain, cement, motorcycles. Imports - partners: China - 13.7%, Taiwan - 11.3%, South Korea -10.8%, Japan - 10.5%, Singapore - 10.5%, Thailand - 6.2%, Hong Kong - 4%.

GDP - composition by sector (2004 est.):

Cambodia Kingdom of Cambodia Long form of country name: Kingdom of Cambodia Location: Southeastern Asia, bordering the Gulf of Thailand, between Thailand, Vietnam, and Laos

Economy overview Cambodia's economy slowed dramatically in 1997 and 1998 due to the regional economic crisis, civil violence, and political infighting, and foreign investment and tourism decreased. In 1999, the first full year of peace in 30 years, the government made progress on economic reforms. Growth resumed and remained about 5% from 2000 to 2004. With the January 2005 expiration of a WTO Agreement on Textiles and Clothing, Cambodia-based textile producers are in direct competition with lower priced producing countries such as China and India. The major economic challenge for Cambodia over the next decade will be fashioning an economic environment in which the private sector can create enough jobs to handle Cambodia's demographic imbalance. More than 50% of the population is 20 years or younger.

Economic figures (2004 est.) GDP (purchasing power parity): $26.99 billion GDP - real growth rate: 5.4% GDP - per capita: PPP - $2,000 Labor force - by occupation: agriculture 75% Population below poverty line: 40% Inflation rate (consumer prices): 3.1% Investment (gross fixed): 20.9% of GDP Industries: tourism, garments, rice milling, fishing, wood and wood products, rubber, cement, gem mining, textiles

GDP - composition by sector (2004 est.):

Export points (2004 est.) Exports: $2.311 billion f.o.b. Exports - commodities: Clothing, timber, rubber, rice, fish, tobacco, footwear Exports - partners: US - 55.9%, Germany - 11.7%, UK - 6.9%, Vietnam - 4.4%, Canada - 4.2%.

Import points (2004 est.) Imports: $3.129 billion f.o.b. Imports - commodities: petroleum products, cigarettes, gold, construction materials, machinery, motor vehicles, pharmaceutical products Imports - partners: Thailand - 22.5%, Hong Kong -14.1%, China - 13.6%, Vietnam - 10.9%, Singapore - 10.8%, Taiwan - 8.4%.