Lao PDR: Net incurrence of liabilities, total (current LCU)

Key figures

What the numbers say

In 2022, Lao PDR's net incurrence of liabilities, total (current LCU) rose 416.3% on 2021 (from 245.59 billion to 1.27 trillion).

Across the 13 yearly changes before that (2009 to 2021), the average change was +29.5% and a typical year strayed about 95.5% from that (the standard deviation). This year's change was 4.0 standard deviations above that average, so it was unusually large compared with the rest of the record.

On record, the biggest yearly rise was 416.3% in 2022 and the biggest yearly fall was 96.2% in 2021. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2013 to 2022 there is no clear straight-line trend: a straight line explains 1% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

Closest to Lao PDR in the 2022 ranking

• India — 1st of 5: 17.63 trillion
• Congo, Dem. Rep. — 2nd of 5: 1.39 trillion
• Australia — 4th of 5: 81 billion
• Ecuador — 5th of 5: 2.95 billion

What this measures

Net incurrence of government liabilities includes foreign financing (obtained from nonresidents) and domestic financing (obtained from residents), or the means by which a government provides financial resources to cover a budget deficit or allocates financial resources arising from a budget surplus. The net incurrence of liabilities should be offset by the net acquisition of financial assets. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.

Limitations: For most countries central government finance data have been consolidated into one account, but for others only budgetary central government accounts are available. Countries reporting budgetary data are noted in the country metadata. Because budgetary accounts may not include all central government units (such as social security funds), they usually provide an incomplete picture. In federal states the central government accounts provide an incomplete view of total public finance. Data on government revenue and expense are collected by the IMF through questionnaires to member countries and by the Organisation for Economic Co-operation and Development (OECD).

All 15 values

Net incurrence of liabilities, total (current LCU) in nearby economies

• Australia — 81 billion (2022)
• Cambodia — 4.85 trillion (2023)
• Fiji — 663.44 million (2024)
• Kiribati — -12.76 million (2023)
• Korea, Rep. — 51.22 trillion (2024)
• Malaysia — 76.85 billion (2024)
• Marshall Islands — -241,000 (2020)
• Micronesia, Fed. Sts. — 5.59 million (2020)
• Mongolia — 420.26 billion (2024)
• Myanmar

More public sector data for Lao PDR

• Arms imports (SIPRI trend indicator values) — 7 million (2024)
• Armed forces personnel, total — 129,000 (2020)
• Armed forces personnel (% of total labor force) — 4.08% (2020)
• CPIA business regulatory environment rating (1=low to 6=high) — 3.5 (2025)
• CPIA debt policy rating (1=low to 6=high) — 2 (2025)
• CPIA economic management cluster average (1=low to 6=high) — 3 (2025)
• CPIA policy and institutions for environmental sustainability rating (1=low to 6=high) — 3.5 (2025)
• CPIA quality of budgetary and financial management rating (1=low to 6=high) — 3 (2025)
• CPIA financial sector rating (1=low to 6=high)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
• Data analysis examples: 6 worked from one dataset — 3 min read
• Real change or random noise? A plain guide to reading your numbers — 2 min read

Questions people ask

What is Lao PDR's net incurrence of liabilities, total (current LCU)?

1.27 trillion in 2022, according to the World Bank (World Development Indicators).

How has it changed since 2008?

It is up 9.37% from 1.16 trillion in 2008 (0.64% a year on average, compounded). The highest value was 8.52 trillion in 2017 and the lowest 245.59 billion in 2021.

Is the latest change in net incurrence of liabilities, total (current LCU) unusual for Lao PDR?

In 2022, Lao PDR's net incurrence of liabilities, total (current LCU) rose 416.3% on 2021 (from 245.59 billion to 1.27 trillion). Across the 13 yearly changes before that (2009 to 2021), the average change was +29.5% and a typical year strayed about 95.5% from that (the standard deviation). This year's change was 4.0 standard deviations above that average, so it was unusually large compared with the rest of the record.

Where does this data come from?

The World Bank's World Development Indicators, licensed CC BY 4.0. Original source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).

Source

World Bank, World Development Indicators, indicator GC.LBL.TOTL.CN, licensed CC BY 4.0. Original source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

Want to ask your own questions of data like this? Try AnalyzeIt: upload a file or ask about public data in plain words, and every figure comes with its working.