Lao PDR: New businesses registered (number)

Key figures

What the numbers say

In 2024, Lao PDR's new businesses registered (number) rose 21.2% on 2023 (from 6,551 to 7,941).

Across the 15 yearly changes before that (2009 to 2023), the average change was +29.7% and a typical year strayed about 63% from that (the standard deviation). This year's change was 0.1 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 211.2% in 2009 and the biggest yearly fall was 56.7% in 2010. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2015 to 2024 the straight-line trend is upward, about 724.48 a year. A straight line explains 85% of the movement over 10 observed years.

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

How it compares

In 2024, Lao PDR had the 77th highest value of the 127 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to Lao PDR in the 2024 ranking

• Armenia — 74th of 127: 8,381
• Kuwait — 75th of 127: 8,357
• Latvia — 76th of 127: 8,218
• Paraguay — 78th of 127: 7,915
• Cabo Verde — 79th of 127: 7,719
• Bahrain — 80th of 127: 7,580

What this measures

New businesses registered are the number of new limited liability corporations (or its equivalent) registered in the calendar year.

Limitations: The definition of entrepreneurship used is limited to the formal sector. Yet, it should be noted that the exclusion of the informal sector is based on the difficulties of quantifying the number of firms that compose it, rather than on its relevance for developing economies. Data collected from economies categorized as offshore financial centers by Eurostat are excluded from the analysis, because registered entities in these countries may not fit the objective of the Entrepreneurship Database aiming at measuring formally registered companies with actual economic activities.

All 17 values

New businesses registered (number) in nearby economies

• Australia — 316,561 (2024)
• Brunei Darussalam — 157 (2024)
• Cambodia — 5,138 (2024)
• China — 286,640 (2024)
• Fiji — 1,665 (2024)
• Hong Kong SAR, China — 145,053 (2024)
• Indonesia — 182,200 (2024)
• Japan — 41,946 (2024)
• Kiribati — 2 (2018)
• Korea, Rep. — 128,455 (2023)
• Malaysia — 59,611 (2024)

More private sector & trade data for Lao PDR

• Merchandise imports (current US$) — US$10.34 billion (2025)
• Merchandise exports (current US$) — US$12.38 billion (2025)
• Merchandise imports from high-income economies (% of total merchandise imports) — 17.45% (2023)
• Merchandise imports from low- and middle-income economies in East Asia & Pacific (% of total merchandise imports) — 81.87% (2023)
• Merchandise imports by the reporting economy, residual (% of total merchandise imports) — 0% (2023)
• Merchandise imports by the reporting economy (current US$) — US$5.47 billion (2023)
• Merchandise imports from low- and middle-income economies within region (% of total merchandise imports) — 81.87% (2023)

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 new businesses registered (number)?

7,941 in 2024, according to the World Bank (World Development Indicators).

How has it changed since 2008?

It is up 1,336% from 553 in 2008 (18.12% a year on average, compounded). The highest value was 7,941 in 2024 and the lowest 553 in 2008.

How does Lao PDR rank?

77th highest of 127 economies with data for 2024.

Is the latest change in new businesses registered (number) unusual for Lao PDR?

In 2024, Lao PDR's new businesses registered (number) rose 21.2% on 2023 (from 6,551 to 7,941). Across the 15 yearly changes before that (2009 to 2023), the average change was +29.7% and a typical year strayed about 63% from that (the standard deviation). This year's change was 0.1 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator IC.BUS.NREG, licensed CC BY 4.0. Original source: Entrepreneurship Database, World Bank (WB), uri: https://www.worldbank.org/en/programs/entrepreneurship 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.