Bank of the Lao PDR Annual Report 2012

ະຌາາຌຫຄ ສຎຎ ລາວ / Bank of the Lao PDR

ສາລະຍາຌ

Contents

ໜາ Page

າຫຌຏ ວາກາຌ 1 Message from the Governor 1

I. ສຈຊະກຈຂຬຄ ສຎຎ ລາວ 5 I. Lao Economic Performance 6

1. ຂະໜຄກະສກ າ 5 1. Agriculture 6

2. ຂະໜຄຬຈສາຫະກ າ 7 2. Industry 8

3. ຂະໜຄຍ ລກາຌ 7 3. Service 8

4. ກາຌຎຽຌຎຄເຄຎະກຬຍ ຈຑ 9 4. Changes in GDP Components 10

5. ລະຈຍລາາ 9 5. Price Level 10

II. ຂະໜຄກາຌຄຌຂຬຄລຈ 11 II. Public Finance 12

1. ຊາຌະກາຌຄຌຂຬຄລຈ 11 1. Fiscal Finance 12

2. ລາງອຍຄຍຎະຓາຌ 13 2. Revenues 14

3. ລາງາງຄຍຎະຓາຌ 15 3. Expenditures 14

4. ກາຌຈຌຈຽຄຄຍຎະຓາຌ 15 4. Financing 16

III. ຂະໜຄຄຌຉາ 17 III. Monetary Sector 18

1. ຌະເງຍາງຬຈຉາລກຎຽຌ 17 1. Exchange Rate Policy 18

2. ຌະເງຍາງຄຌຉາ 19 2. Monetary Policy 20

3. ຎະລຓາຌຄຌ 19 3. Monetary Supply 20

4. ຊາຌຄຌຉາ 21 4. Monetary Base 22

5. ຄຌຐາກຂຬຄະຌາາຌລະກຈ 21 5. Deposits 22

6. ສຌຆ ຬຂຬຄະຌາາຌລະກຈ 23 6. Credits 24

7. ຬຈຉາຈຬກຍງຄຌຐາກ ລະ ຄຌກ 23 7. Interest Rates Deposits and Loan 24

8. ກາຌຓຬຄຄຌຉາຉາຄຎະຈ ລະ ກາຌສ ຄສຓກາຌຌ າແຆຄຌກຍ 25

8. Foreign Currency Management and

the Promotion of the Use of Kip 26

9. ກາຌຓຬຄະຌາາຌລະກຈ 27 9. Commercial Bank Supervision 28

10. ກາຌ ຓຬຄສະຊາຍຌກາຌຄຌ 29 10. Financial Institutions Supervision 30

11. ວຽກຄາຌ ຓຬຄຉະຫາຈຫກຆຍ ແຌ ສຎຎ ລາວ 29 11. Stock Exchange Management 30

IV. ຈຌກາຌຆ າລະກຍຉາຄຎະຈ 31 IV. Balance of Payments 32

1. ກາຌາກຍຉາຄຎະຈ 33 1. Foreign Trade 34

2. ຈຌຍ ລກາຌ 33 2. Services 34

3. ຈຌລາງໂຈ 35 3. Factor Income 36

4. ຄຌເຬຌຆວງຫ ຬ 35 4. Current Transfers 36

5. ໜສຌຉາຄຎະຈ 35 5. External Debts 36

6. ຈຌຍຌຆຌ ລະ ກາຌຄຌ 37 6. Foreign Direct Investment 38

V. ຈາຄລວຓາຄຈາຌຓະຫາຑາກຄຌຉາຂຬຄ ສຎຎ ລາວ ຎ 2013 37 V. Lao Monetary Outlook for 2013 38

ສະຑາຍຍ ລຫາຌ 39 Executive Board 39

ຏຌວາຈ 1: ເຄອາຄກາຌຈຉຄະຌາາຌຫຄ ສຎຎ ລາວ 43 Chart 1: Organizational Chart of the BOL 44

ຏຌວາຈ 2: ເຄອາຄກາຌຈຉຄຂຬຄລະຍຍະຌາາຌ ແຌ ສຎຎ ລາວ 45

Chart 2: Organizational Chart of the

Lao Banking System 46

ຍຈລາງຄາຌສຈຊະກຈ ຎະ າຎ 2012 Annual Economic Report 2012

ສາລະຍາຌອ ຍ

List of Figures

ໜາ

Page

ອ ຍ 1: ກາຌຂະຫງາງຉວສຈຊະກຈ 5 Figure 1: GDP Growth Rate 6

ອ ຍ 2: ກາຌຂະຫງາງຉວຂະໜຄກະສກ າ 7 Figure 2: Growth of Agriculture 8

ອ ຍ 3: ກາຌຂະຫງາງຉວຂະໜຄຬຈສະຫະກ າ 7 Figure 3: Growth of Industry 8

ອ ຍ 4: ກາຌຂະຫງາງຉວຂະໜຄຍ ລກາຌ 9 Figure 4: Growth of Services 10

ອ ຍ 5: ກາຌຎຽຌຎຄເຄຎະກຬຍ ຈຑ 9 Figure 5: Changes of GDP Components 10

ອ ຍ 6: ຬຈຉາຄຌຒ 11 Figure 6: Inflation 12

ອ ຍ 7: ຊາຌະກາຌຄຌຂຬຄລຈ 13 Figure 7: Fiscal Performance 14

ອ ຍ 8: ລາງອຍຄຍຎະຓາຌ 13 Figure 8: Revenues 14

ອ ຍ 9: ລາງາງຄຍຎະຓາຌ 15 Figure 9 Expenditures 16

ອ ຍ 10: ກາຌຈຌຈຽຄຄຍຎະຓາຌ 17 Figure 10: Fiscal Financing 18

ອ ຍ 11: ຬຈຉາລກຎຽຌ 17 Figure 11: Exchange Rates 18

ອ ຍ 12: ຎະລຓາຌຄຌ M2 19 Figure 12: Money Supply (M2) 20

ອ ຍ 13: ຬຄຎະກຬຍຂຬຄ M2 ງກຉາຓສະກຌຄຌ 21 Figure 13: M2 by Currency Components 22

ອ ຍ 14: ຊາຌຄຌຉາ 21 Figure 14: Monetary Base 22

ອ ຍ 15: ຄຌຐາກຂຬຄະຌາາຌລະກຈ 23 Figure 15: Commercial banks’ Deposits 24

ອ ຍ 16: ສຌຆ ຬຂຬຄະຌາາຌລະກຈ 23 Figure 16: Commercial banks’ Credits 24

ອ ຍ 17: ຬຈຉາຈຬກຍງສະລງຄຌຐາກກ າຌຈ 12 ຈ ຬຌ 25 Figure 17: Average 12 Months Deposit Rates 26

ອ ຍ 18: ຬຈຉາຈຬກຍງສະລງຄຌກ ກ າຌຈ 12 ຈ ຬຌ 25 Figure 18: Average 12 Months Lending Rates 26

ອ ຍ 19: ຈຈຆະຌຉະຫາຈຫກຆຍລາວ ລະ ຓ ຌາອຌ ຓກາຌຆ -ຂາງ 31

Figure 19: Lao Stock Index Market and

Trading Volume 32

ອ ຍ 20: ຈຌກາຌຆ າລະກຍຉາຄຎະຈ 31 Figure 20: Balance of payments 32

ອ ຍ 21: ກາຌາຉາຄຎະຈ ລະ ກາຌຂະຫງາງຉວຂຬຄ ກາຌສ ຄຬຬກ-ຌ າຂາ 33

Figure 21: Foreign Trade and Growth Rate

of Exports - Imports 34

ອ ຍ 22: ຉວລກຌກຬຄຽວ ຂາຓາແຌ ສຎຎ ລາວ 35 Figure 22: Number of Tourist Arrivals to Lao PDR 36

ອ ຍ 23: ໜສຌຉາຄຎະຈ 35 Figure 23: External Debts 36




ສາລະຍາຌຉາຉະລາຄ

List of Tables

ໜາ/Page

ຉາຉະລາຄ 1: ຉວຆຍຬກສຈຊະກຈ ສ າຌຂຬຄ ສຎຎ ລາວ 47 Table 1: Selected Economic Indicators of

the Lao PDR

ຉາຉະລາຄ 2: ລວຓງຬຈຏະລຈຉະຑຌຑາງແຌ ຈໂລຉາຓຓ ຌາຑ ຓ 48

Table 2:Gross Domestic Product by

Value Added

ຉາຉະລາຄ 3: ຈຈຆະຌລາາຏ ຆຓແຆ 49 Table 3: Consumer Price Index (CPI)

ຉາຉະລາຄ 4: ຬຈຉາຄຌຒ 50 Table 4: Inflation

ຉາຉະລາຄ 5: ຊາຌະກາຌຄຌຂຬຄລຈ 51 Table 5: Status of Government Budget

ຉາຉະລາຄ 6: ລາງອຍຄຍຎະຓາຌ 53 Table 6: Revenues

ຉາຉະລາຄ 7: ຊາຌະກາຌຄຌຂຬຄະຌາາຌຫຄ ສຎຎ ລາວ 54 Table 7: Balance Sheet of the BOL

ຉາຉະລາຄ 8: ຊາຌະກາຌຄຌຂຬຄລະຍຍະຌາາຌ 55 Table 8: Monetary Survey

ຉາຉະລາຄ 9: ຬຈຉາຈຬກຍງ 56 Table 9: Interest Rates

ຉາຉະລາຄ 10: ຄຌຐາກຂຬຄະຌາາຌລະກຈ 58 Table 10: Commercial banks’ Deposits

ຉາຉະລາຄ 11: ສຌຆ ຬຂຬຄະຌາາຌລະກຈ 59 Table 11: Commercial banks’ Credits

ຉາຉະລາຄ 12: ຈຌກາຌຆ າລະກຍຉາຄຎະຈ 60 Table 12:Balance of Payments

ຉາຉະລາຄ 13: ກາຌາຉາຄຎະຈ 61 Table 13: Foreign Trade

ຉາຉະລາຄ 14: ໜສຌຉາຄຎະຈຂຬຄລຈ 62 Table 14: External Debts

ຉາຉະລາຄ 15: ຬຈຉາລກຎຽຌະຌາາຌຫຄ ສຎຎ ລາວ 63 Table 15: Official and Parallel Exchange Rates

ຉາຉະລາຄ 16: ຄຌເຬຌຂາຓາລຄຌເຈງກຄຂຬຄຉາຄຎະຈ ຏາຌລະຍຍະຌາາຌ 64

Table 16: FDI Funds Transferred Through

Banking System

ຉາຉະລາຄ 17: ລວຓກາຌລຄຌາກຉາຄຎະຈ ຍຄຉາຓຂະໜຄກາຌ 65

Table 17: Approved Foreign Direct

Investments by Sector

ຉາຉະລາຄ 18: ຉວລກຌກຬຄຽວ ລະ ລາງໂຈາກກາຌ ຬຄຽວຂຬຄລາວ

66

Table 18: Tourist Arrivals to Lao PDR and

Revenues from Tourism


າຽນຌຂບຄຏ ໄທໃ າກາຌະຌາາຌນໃ ຄ ຘຎຎ ຖາທ Message from the Governor

ເຌຎ 2012 ກາຌປກຘາຘະຊຌຖະຑາຍຈ ໄາຌຽຘຈຊະກຈ-ຽຄຌຉາແຈ ໄຎະຽຆຌກຍບຎະຘກ ຖະ ຘໃ ຄ ໄາາງນາງຎະກາຌ ຈງຘະຽຑາະຓໃ ຌຍຌນາທາຓຏຌຏທຌຂບຄບຈຉາຖກຎໃ ຌ, ຖາາຌ ໄາຓຌ ຖະ ຖາາ າເຌຉະນຖາຈຘາກຌ ຍຌນານຌ ໄຘຌຽບຕຍງຄຍ ໃ ຓຓາຈຉະ ກາຌກ ໄແຂແຈ ໄຂາຈຉບຈຉາກາຌນທໃ າຄຄາຌ ຖະ ບຈ ຉາຽຄຌຽຒໄຘຄ ດໃ ຎະຽຈຑຈະຌາ ຖະ ຎະຽຈກ າຖຄຑຈະຌາ ຘໃ ຄຏຌຽປຈເນ ໄຽຘຈຊະກຈຖກຂະນງາງຉທນຖຈຖຄຽນຖບຑຄ 3,20% າກ 3,80% ເຌຎ 2011.

ຽຊຄຓໃ ຌທໃ າຘະຑາຍທຈຖ ໄບຓຂບຄຘາກຌຍ ໃ ຽບ ໄບບ າຌທງກ ໃ ຉາຓ ຉໃ ຽຘຈຊະກຈຂບຄ ຘຎຎ ຖາທ ກ ໃ ງຄຘຍຉ ໃ ຂະນງາງຉທຽຂ ໄຓຂຄ ຖະ ຉ ໃ ຽຌໃ ບຄ ງ ໄບຌຑກຖະ ຖຈຊະຍາຌແຈ ໄຓຓາຈຉະກາຌ ຖະ ຌະງຍາງກະຉກຆກງ ໄຽຘຈຊະກຈດໃ າຄຉ ໃ ຽຌໃ ບຄ, ຍຌຈາຄກາຌຖຄ ຌຉໃ າຄໂຊກຈຉ ໄຄຎະຉຍຈຉາຓຏຌກາຌໃ ແຈ ໄກ າຌຈແທ ໄ, ຘະຽຑາະະຌາາຌນໃ ຄ ຘຎຎ ຖາທ ຽຑໃ ບປກຘາຘະ

ຊຌຖະຑາຍຽຄຌຉານໃ ຄຆາຈ ເນ ໄຓທາຓໝ ໄຌໃ ຄງາທຌາຌ, ບຈຉາຖກຎໃ ຌຓທາຓຘະນຄຍ, ບຈຉາຽຄຌຽຒໄ ຉ ໃ າກໃ ທາບຈຉາກາຌຂະນງາງຉທຂບຄຽຘຈຊະກຈຖະຍຍ ະຌາາຌຓທາຓໝ ໄຌຄຽຂ ໄຓຂຄຎະກບຍຘໃ ທຌຆກງ ໄປຄກາຌຑຈະຌາຽຘຈຊະກຈ-ຘຄຓ ນຈຏໃ ບຌທາຓ

In 2012, Bank of the Lao PDR (BOL)

faced with numerous obstacles and

challenges in maintaining monetary

stability, particularly the volatility of

exchange rate, oil price and gold price in

global market, a public debt crisis in EU

zone with no explicit measures, high

unemployment and inflation rates in both

advanced and developing countries. As a

result, the world economy slowed down

from 3.80% to 3.20% 2011.

Despite unfavorable economic

conditions from the globe, Lao economic

growth remained strong due to the Party and

Government rightly undertook

macroeconomic policies and measures to

stimulate the Lao economy and those were

implemented in line with the plans. In order

to maintain a long-term monetary stability:

stabilized exchange rate, inflation rate

below economic growth rate, safe and

sound banking system to support the socio-

economic development and achieve the

target of poverty alleviation. The BOL has

undertaken exchange rate policy as a main

instrument to maintain monetary stability by

setting a daily reference rate of Kip vis-a-

ະຌາາຌນໃ ຄ ຘຎຎ ຖາທ / Bank of the Lao PDR

ຍຈຖາງຄາຌຽຘຈຊະກຈ ຎະ າຎ 2012 Annual Economic Report 2012

ກງາກຂບຄຎະຆາຆຌ ເນ ໄຍຌຖຉາຓຏຌກາຌໃ ແຈ ໄກ າ ຌຈແທ ໄ ະຌາາຌນໃ ຄ ຘຎຎ ຖາທ ແຈ ໄຊຽບາຌະງຍາງບຈຉາຖກຎໃ ຌຽຎຌຽໃ ບຄຓຑ ໄຌຊາຌ ເຌກາຌປກຘາຘະ ຊຌຖະຑາຍຽຄຌຉານໃ ຄຆາຈຈ ໄທງກາຌກ າຌຈ ບຈຉາຖກຎໃ ຌບ ໄາຄບຄຎະ າທຌ ກຍ/ຈຖາ ຽຑໃ ບເນ ໄະຌາ າຌຖະກຈ ເຆ ໄຽຎຌຑ ໄຌຊາຌກ າຌຈບຈຉາຖກຎໃ ຌຂບຄຉຌ, ຈຈຘຓຽຄຌຉາຉໃ າຄຎະຽຈ ເນ ໄຑຄຑ ຈງຑ ໄຌ ຊາຌກຍທາຓຉ ໄບຄກາຌຂບຄຘຄຓ; ຎະຉຍຈຌະງຍາງຽຄຌຉາຍຍຎະຘຓຎະຘາຌ ຈ ໄທງກາຌຘຍຉ ໃ ຌ າເຆ ໄຽໃ ບຄຓຽຄຌຉາາຄບ ໄບຓ ຽຎຌຉ ໄຌ: ບຈຉາຈບກຽຍ ໄງຽຄຌກ ໄ, ປກຘາບຈຉາຽຄຌປຐາກຍຄຍ ຖະ າໜໃ າງຑຌ ະຍຈ ນຖ; ຘໃ ຄຽຘຓກາຌຌ າເຆ ໄຽຄຌກຍ ຖະ ຆ ກງ ໄຘໃ ຄຽຘຓກາຌຆ າຖະຑາງເຌຽຎຌຽຄຌກຍ ຖະ ໄຓບຄກາຌຌ າຽຂ ໄາ-ຘໃ ຄບບກຽຄຌຉາຉໃ າຄຎະຽຈ ຖະ ທຈຊຓ ໃ າດໃ າຄເກ ໄຆຈ.

ຑ ໄບຓກຌຌ ໄ, ນຖ ງຄຘຍຉ ໃ ຆກງ ໄເນ ໄະຌາາຌຖະກຈ ຽຑໃ ຓະທກາຌຖະຈຓຽຄຌຐາກ ຈ ໄທງກາຌຎຍ ຎຄຖະຍຍກຌແກກາຌຍ ຖກາຌ ເນ ໄຘະຈທກຘະຍາງຖະ ນຌຘໃ ຌຘະແໝຽໃ ບຖະກ ໄາທ, ຑ ໄບຓຄເນ ໄຎຍຎຄຂະ ນງາງຉາໜໃ າຄ ກາຌຍ ຖກາຌຖຄຘໃ ຂ ໄຌຽຓບຄເນ ໄໃ ທຽຊຄກທໃ າຽກໃ າ ຖະ ຌ າເຆ ໄໜໃ ທງຖະຈຓຽຄຌຐາກຽໃ ບຌໃ ຽຑໃ ບຽຂ ໄາຽຊຄຖກ ໄາ, ຌ າເຆ ໄຏະຖຈຉະຑຌຽຄຌຐາກເໝໃ ໂໃນາກນາງຽຑໃ ບຄເ ຽຆໃ ຌ: ຐາກຽຄຌຆຄຆກ, ຽຄຌຐາກຎະ າໃ າງຈບກຽຍ ໄງຖໃ ທຄໜໄາ, ຐາກຽຄຌຏໃ າຌຉ ໄຽບຽບຓ;

ຎຍຎຄຖະຍຍກາຌຍ ຖກາຌເນ ໄຓທາຓຘະຈທກທໃ ບຄແທ, ນຈຏໃ ບຌຂ ໄຌຉບຌກາຌຍ ຖກາຌເນ ໄຓທາຓກະຈປຈ

ຽປຈເນ ໄຖະຍຍະຌາາຌຘາຓາຈຖະຈຓຌາກຘຄຓແຈ ໄດໃ າຄກທ ໄາຄຂທາຄ ຘ ໄາຄຘະຑາຍທຈຖ ໄບຓໃ ຈເນ ໄະຌາ າຌຖະກຈຽຎຌຽ ໄາກາຌຘະໜບຄຽຆໃ ບເນ ໄກໃ ຄກາຌໃ ຓຎະຘຈຏຌ ຈງກາຌຎຍຎຄກຌແກ ຖະ ຂ ໄຌຉບຌກາຌຑາຖະຌາຽຄຌກ ໄ ຽຑໃ ບເນ ໄຏ ໄຎະກບຍກາຌຽຂ ໄານານໃ ຄຌແຈ ໄຄໃ າງຂ ໄຌ ຖະ ຘາຓາຈຌ າເຆ ໄຄກາຌຽຄຌກ ໄໃ ຓຎະຘຈຏຌ ຽຎຌນຖກຆຍ ໄາຎະກຌຽຄຌກ ໄ; ຽບາເເຘໃ ຉຈຉາຓ ຖະ ກທຈກາກາຌຽໃ ບຌແນທຂບຄະຌາ າຌຖະກຈ ຖະ ຘະຊາຍຌກາຌຽຄຌດໃ ຑາງເຉ ໄກາຌ ໄຓບຄຂບຄ ນຖ ດໃ າຄເກ ໄຆຈ ຖະ ຽຎຌຎກກະຉ.

vis USD for commercial banks to determine

their own exchange rates, intervene the

foreign exchange market to ensure the

supply of foreign exchanges meets with

social demand; implemented a combined

monetary policy framework by using

indirect monetary instruments such as:

maintaining BOL lending rates and the

reserve requirement ratios, issuing the BOL

bills; encouraging the use of kip and

promoting domestic payment in kip and

continuing to supervise over import-export

of foreign currencies and precious metals.

At the same time, the BOL continued

to encourage commercial banks to increase

their deposit mobilization by improving

services mechanism and IT modernizing

gradually; to improve and expand

commercial banks’ network to provide a

greater access to district levels together with

make use of those available mobile deposit

units to get access to customers; to provide

more diversified deposit account types to

attract more customers such as: prize draw

deposits, advanced interest payment

deposits, making deposits via ATM and etc;

increasingly improved customer services

mechanism and ensure promptly response,

streamlined service process in order for

commercial banks to be able to mobilize

fund from social more broadly; generated

more favorable business climate for

commercial banks to provide credit to those

viable companies and projects by focusing

on the improvement of regulatory

framework and loan approval mechanism to

allow a better access for entrepreneurs, and

introduced a scheme of using productive

projects as loan collateral. In addition, the

BOL paid more attention over transaction of

both commercial banks and financial

institutions and ensure entire operations are

under the BOL’s supervision.

The BOL continued to support and

develop the Lao Securities Exchange (LSX)

by creating stock market legislative law,

and keep a close watch over the operation of

listed companies and audit companies;

ະຌາາຌນໃ ຄ ຘຎຎ ຖາທ Bank of the Lao PDR



ຘຍຉ ໃ ຘໃ ຄຽຘຓ ຖະ ຑຈະຌາຉະນາຈນກຆຍຈ ໄທງກາຌຘ ໄາຄກຈໝາງທໃ າຈ ໄທງນກຆຍ, ຽບາເເຘໃ ໄຓບຄກາຌຽໃ ບຌແນທຂບຄຍ ຖຘຈນກຆຍ ຖະ ຍ ຖຘຈກທຈຘບຍຉາຓຖະຍຍກຈໝາງ; ຎກຖະຈຓຂຌຂທາງຍ ຖຘຈຄຑາກຖຈ ຖະ ຽບກະຆຌ ໃ ຓຽຄ ໃບຌແຂ ຽຑໃ ບກະກຓບບກປ ໄຌ ຖະ ຈະຍຌເຌຉະນາຈນກຆຍຖາທ; ບະຌງາຈເນ ໄຍ ຖຘຈຏະຖຈແຒຒໄາຖາທ ຓະນາຆຌ

າໜໃ າງປ ໄຌ ຽຑໃ ບຖະຈຓຌ; ຌບກາກຌ ໄ ງຄແຈ ໄຘຓເຘໃຘະຌາຽຏງຏໃ ທກຄາຌນກຆຍຈງຏໃ າຌຘໃ ຉໃ າຄ ຖທຓຄຈກບຄຎະຆຓດໃ ຘຌກາຄ ຖະ ໄບຄຊໃ ຌດໃ າຄຉ ໃ ຽຌໃ ບຄ.

ຏໃ າຌກາຌຈຉ ໄຄຌະງຍາງໃ ຘບຈໃ ບຄ ຖະ

ຌກຍຘະຑາຍກາຌຽປຈເນ ໄະຌາາຌນໃ ຄ ຘຎຎ ຖາທ

ຘາຓາຈຎະກບຍຘໃ ທຌຆກງ ໄ ຽຘຈຊະກຈນໃ ຄຆາຈ ຂະ ນງາງຉທຽຂ ໄຓຂຄ ດໃ ເຌຖະຈຍ 7,93%, ຖາງແຈ ໄຉ ໃ ນທຌ ຘະຽຖໃ ງ 1.396 ຈຖາຘະນະຖຈ, ບຈຉາຽຄຌຽຒໄຘະຽຖໃ ງເຌຎ 4,26%; ບຈຉາຖກຎໃ ຌຓໃ ຌຓທາຓຘະ ນຄຍ ຖະ ໝໄຌໃ ຄ, ຽຄຌກຍຂຄໃ າ 0,26% ຍເຘໃຽຄຌຈຖາຘະນະຖຈ, ຉໃ ບໃ ບຌໃ າ 2,26% ຍເຘໃ ຽຄຌຍາຈ ຽຓໃ ບຍເຘໃ ຎ 2011; ຄຘ າປບຄຽຄຌຉາຉໃ າຄຎະຽຈຘາຓາຈກ ໄຓກາຌຌ າຽຂ ໄາແຈ ໄ 5,22 ຽຈບຌ; ຎະຖຓາຌຽຄຌ M2 ຽຑໃ ຓຂ ໄຌເຌຖະຈຍໃ ທຍຓແຈ ໄ 31,05%;

ຽຄຌຐາກໃ ທຖະຍຍະຌາາຌຖະກຈ ຽຑໃ ຓຂ ໄຌ32,57% ຽຓໃ ບຍເຘໃ ໄາງຎ 2011 ນຖ ຽໃ າກຍ

40,81% ຂບຄ GDP, ຘຌຽຆໃ ບຂບຄະຌາາຌຖະກຈ

ເນ ໄກໃ ຑາກ ຘໃ ທຌຽຘຈຊະກຈ ຽຑໃ ຓຂ ໄຌ 33,80% ນຖ

ຽໃ າກຍ 35,15% ຂບຄ GDP, ນຌ ໄຍ ໃ ຽກຈຈບກບບກຏຌຂບຄຖະຍຍະຌາາຌ ດໃ ເຌຖະຈຍຽຖໃ ງ 3,88%.

ຈຈຆະຌຉະນາຈນກຆຍຖາທ ຎຈດໃ ໃ 1.214,77 ຈ

ເຌຽຈບຌ 12/2012 ຍເຘໃ ຽຈບຌ 12/2011 ຽຑໃ ຓຂ ໄຌ

35,06%

ເຌຎ 2013 າຈທໃ າຽຘຈຊະກຈຖກ ງຄຘຍຉ ໃຂະນງາງຉທເຌຖະຈຍຉ ໃ າ ຘະຽຖໃ ງຎະຓາຌ 3,50%

1.

ເຌຌ ໄຌ, ຎະຽຈຑຈະຌາຖ ໄທະຂະນງາງຉທຑຄ 1,40%, ຘໃ ທຌຎະຽຈກ າຖຄຑຈະຌາະຂະນງາງຉທ

5,50% ຽຌໃ ບຄາກຍຌນານຌ ໄຘຌດໃ ຂຄຽຂຈຽບຕຍ,ແຑ າຓະຆາຈໃ ປຌປຄ ຖະ ຊໃ ຂ ໄຌເຌໃ ທຖກ ຖາາຌ ໄາຓຌ

encouraged public and private companies

that legible to issue shares and to be listed

in the LSX; granted to EDL-Gen public

company to issue share for mobilization

purposed. Besides that, the BOL continued

to promote and disseminate the securities

exchange knowledge via diverse channels

including seminars in both at Vientiane

capital and local continuously.

Upon the implementation of

appropriate policies, the BOL has made

impressive progress and contributed to

achieve economic growth to 7.93 percent,

lifting GDP per capita at USD 1,396, an average annual inflation rate stood at

4.26 percent; exchange rate remained stable,

Kip appreciated by 0.26 percent against

USD but depreciated 2.26 percent against

Thai Baht compared to 2011; the level of

foreign reserves could cover 5.22 months;

money supply (M2) continued to increase in

a manageable levels at 31.05 percent; total

deposits of commercial banks rose by 32.57

percent compared to 2011 or equivalent to

40.81 percent of GDP, total credit provided

by commercial banks to economy rose by

33.80 percent or represented 35.15 percent

of GDP, an average rate of non-performing

loan (NPL) of commercial banks stood at

3.88 percent and LSX index closed at

1,214.77 points in 12/2012 or increased by

35.06 percent compared to 12/2011.

Despite the projection of global

economic outlook in 2013, global growth is

expected to be increasing in a low level of

3.50 percent. Of which, advanced countries

will be increasing at 1.40 percent, and

developing countries at 5.50 percent caused

by external debt crisis in Europe zone,

natural calamities that increasingly occur

around the globe, a price hike in oil, gold

and stock price, exchange rate fluctuation in

international market. However, Lao

economic outlook in 2013 remains

favorable and economic growth is projected

to be at a robust rate of 8.30 percent;

1 ໃ າບໃ ຄຂບຄຽຘຈຊະກຈຖກຂບຄກບຄຌຘາກຌ ຘະຍຍ 1/2003 1 World Economic Outlook, IFM issued 1/2003




ຖາາ າ, ຖາາປ ໄຌ ຖະ ບຈຉາຖກຎໃ ຌຓທາຓຏຌຏທຌດໃ ເຌຉະນຖາຈຘາກຌ. ຽຊຄດໃ າຄເຈກ ໃ ຉາຓ, ຽຘຈຊະ

ກຈຂບຄ ຘຎຎ ຖາທ ເຌຎໜໄາຌ ໄ, າຈທໃ າະຂະນງາງ

ຉທດໃ າຄຽຂ ໄຓຂຄ ຖະ ຉ ໃ ຽຌໃ ບຄ ຘະຽຖໃ ງຎະຓາຌ 8,30%

ຉ ໃ ຎ, ບຈຉາຽຄຌຽຒໄດໃ ເຌຖະຈຍຉ ໃ າກທໃ າບຈຉາກາຌຂະ

ນງາງຉທຂບຄຽຘຈຊະກຈ, ຄຘ າປບຄຽຄຌຉາຉໃ າຄຎະຽຈຘາຓາຈກ ໄຓກາຌຌ າຽຂ ໄາຍ ໃ ນຖຈ 5 ຽຈບຌ, ບຈຉາຖກຎໃ ຌຓທາຓຘະນຄຍຎກກະຉ ຽໜຄຉຄເຌຂບຍຽຂຈ ± 5,00%, ໄຓບຄະຌາາຌຖະກຈ ຖະ ຘະຊາຍຌກາຌຽຄຌເນ ໄຓທາຓໝ ໄຌຄງາທຌາຌ.

inflation rate is projected to be lower than

economic growth rate, foreign reserves will

cover more than 5 months of imports,

exchange rate will be moving within the

band of ± 5.00 percent, supervision over

commercial banks and financial institutions

to be strengthened.

ຏ ໄທໃ າກາຌະຌາາຌນໃ ຄ ຘຎຎ ຖາທ

Governor of the Bank of the Lao PDR


ຍຈຖາງຄາຌຽຘຈຊະກຈ ຎະ າຎ 2012

I. ຽຘຈຊະກຈຂບຄ ຘຎຎ ຖາທ ເຌຎ 2012, ຽຊຄຓໃ ຌທໃ າຘະຑາຍທຈຖ ໄບຓຘາກຌຎະຽຆຌກຍຘໃ ຄ ໄາາງນາງດໃ າຄກ ໃ ຉາຓ, ຘະຑາຍຽຘຈ

ຊະກຈຂບຄ ຘຎຎ ຖາທ ຈງຖທຓຘຍຉ ໃ ຂະນງາງຉທຘຄ ຖະ ຉ ໃ ຽຌໃ ບຄ, ຘາຓາຈຂະນງາງຉທເຌຖະຈຍ 7,93%

(ປຍ 1); GDP (ຖາາຎະຍຌ) ຍຌຖ 72.727,45 ຉ ໄກຍ (ຉາຉະຖາຄ 2), ຽປຈເນ ໄຖາງແຈ ໄຘະຽຖໃ ງຉ ໃ ນທຌ

ຽຑໃ ຓຂ ໄຌ າກ 1.263 ຈຖາຘະນະຖຈ ເຌຎ 2011 ຓາຽຎຌ 1.396 ຈຖາຘະນະຖຈເຌຎ 2012.

ຎຈເຉ ໄຌຉ ໃ ຆກງ ໄເນ ໄຽຘຈຊະກຈຂບຄ ຘຎຎ ຖາທ ຓໃ ຌຂະໜຄຍ ຖກາຌຈ ໄາຌກາຌ ໄາ, ຂາງງກ-ຂາງ ງໃ ບງ, ຘ ໄບຓຎຄ, ກາຌຍ ຖກາຌຂຌຘໃ ຄ, ຘາຄ, ແຎຘະຌ-ຖະຓຓະຌາຓ ຖະ ກາຌຍ ຖກາຌຂບຄຑາກຖຈ. ປບຄຖຄຓາ ຓໃ ຌຂະໜຄບຈຘານະກ າ ຖະ ຂະໜຄກະຘກ າ, ຎໃ າແຓ ໄ-ກາຌຎະຓຄ. ຑ ໄບຓກຌຌ ໄຌ, ງ ໄບຌ ຘຎຎ ຖາທ ຓຘະຑາຍຽຄ ໃບຌແຂໃ ຽບ ໄບບ າຌທງ ຽປຈເນ ໄຓກາຌຖຄຌຄຑາງເຌ ຖະ ຉໃ າຄຎະຽຈ ຽຑໃ ຓຂ ໄຌ ຈງຘະຽຑາະ ກະຘຽຄຌຌແນຽຂ ໄາຂບຄກາຌຖຄຌຈງກຄາກຉໃ າຄຎະຽຈ ຖະ ກາຌຖຄຌກ ໃ ຘ ໄາຄຑ ໄຌຊາຌຄຖໃ າຄ ຽຑໃ ບກະ ກຓກບຄຎະຆຓບາຽຆຍ ໄຄ 7; ກບຄຎະຆຓບາຽຆຓ ໄຄ 9 ຖະ ຄາຌກຖາຓະນາທະງາແຖບາຆຌ ໄຄ 16, ຑ ໄບຓຄຓກາຌຎະກບຍຘໃ ທຌາຄຈ ໄາຌນໃ ຄຌຂບຄຂະໜຄກາຌະຌາາຌ ເຌກາຌຆກງ ໄຑ ໄຌຊາຌຽຘຈຊະກຈ ຽຎຌຉ ໄຌ ຂະໜຄກາຌຏະຖຈ, ຖະກຈ, ກາຌກ ໃ ຘ ໄາຄ ຖະ ບໃ ຌໂ.

1. ຂະໜຄກະຘກ າ

ເຌຎ 2012 ຍເຘໃ ຎ 2011, ຂະໜຄກະຘກ າຂະນງາງຉທເຌຖະຈຍ 3,27%; ຈງຓຓຌໃ າຄໝຈ

ຍຌຖແຈ ໄ 9.879,54 ຉ ໄກຍ ຖະ ກທຓຽບາ 26,90% ຂບຄ GDP (ປຍ 2). ຂະໜຄກາຌໃ ຑາເນ ໄຽຑໃ ຓຂ ໄຌ ຓໃ ຌກາຌຎກຐຄ ຖະ ຖ ໄ ຄຘຈ ຽຑໃ ຓຂ ໄຌ 5,19% ນ ກທຓຽບາ 22,11% ຂບຄ GDP; ກາຌຎະຓຄ ຽຑໃ ຓຂ ໄຌ 4,94% ນ

ກທຓຽບາ 3,19% ຂບຄ GDP; ກຄກຌຂ ໄາຓ ຂະໜຄຎໃ າແຓ ໄ ນຈຖຄ 19,56% ນ ກທຓຽບາ 1,60% ຂບຄ GDP.

7,78%7,50%

8,13% 8,04% 7,93%

1

2

3

4

5

6

7

8

9

10

2008 2009 2010 2011 2012

ບຈຉາກາຌຂະນງາງຉທຂບຄຽຘຈຊະກຈ (ຈຑ)

ປຍ 1: ບຈຉາກາຌຂະນງາງຂບຄຽຘຈຊະກຈ (ຈຑ)

ນໃ ຄຂ ໄຓຌ: ກຓຘະຊຉຽຘຈຊະກຈ, ຘຌຘະຊຉນໃ ຄຆາຈ, ກະຆທຄຏຌກາຌ ຖະ ກາຌຖຄຌ

ຽຎຽຆຌ (%)

ະຌາາຌນໃ ຄ ຘຎຎ ຖາທ

Bank of the Lao PDR

Annual Economic Report 2012

I. Lao Economic Overview In 2012, despite international environments were faced with various challenges, Lao

economic performance continued to describe high and sustained growth at 7.93 percent

(Figure 1). The total value of GDP in current price stood at Kip 72,727.45 billion

(Table2), which resulted in GDP per capita income rose from 1,263 US dollar in 2011 to

1,396 US dollar in 2012.

The key factors boosting the expansion and strong growth of Lao economy were

trade service, wholesale, retail trade, repairs; transport and community-action and

producers of Government services; followed by industrial and agricultural sectors and

forestry-fishing sectors. Besides, the large increase in domestic and foreign investments

had supported the growth rate due to favorable conditions in Lao PDR, especially capital

flows from Foreign Direct Investment (FDI) and investment on infrastructure for the

preparation of the 7th ASEP meeting; the 9th ASEM meeting and the 16th Asian University

Game. In addition, the large amount of fund contributed by the banking sector also helped

to boost economic activities such as manufacturing, businesses, construction and others.

1. Agriculture Agricultural sector slightly increased by 3.27 percent compared to last year, with the

total value of Kip 9,879.54 billion and represented 26.90 percent of GDP (Figure 2). The

main factors to the rise were agriculture and livestock increased by 5.19 percent or 22.11

percent of GDP; fishing increased by 4.94 or 3.19 percent of GDP; while forestry dropped

by 19.56 percent or 1.60 percent of GDP.

7.78% 7.50%8.13% 8.04% 7.93%

1

2

3

4

5

6

7

8

9

10

2008 2009 2010 2011 2012

GDP Growth

Percent Figure 1: GDP Growth Rate

Source: Department of Economic Statistics, Lao statistics Bureau

Ministry of Planning and Investment


2. ຂະໜຄບຈຘານະກ າ

ເຌຎ 2012 ຍເຘໃ ຎ 2011, ຂະໜຄບຈຘານະກ າຂະນງາງຉທເຌຖະຈຍ 11,41%, ຈງຓຓຌໃ າຄ ໝຈຍຌຖແຈ ໄ 10.411,10 ຉ ໄກຍ ນ ກທຓຽບາ 28,34% ຂບຄ GDP (ປຍ 3). ເຌຌ ໄຌ, ຂະໜຄກາຌກ ໃ ຘ ໄາຄ ຽຑໃ ຓ

ຂ ໄຌ 19,15% ນ ກທຓຽບາ 6,70% ຂບຄ GDP; ຂະໜຄບຈຘານະກ າຎຄຉໃ ຄ ຽຑໃ ຓຂ ໄຌ 14,54% ນ ກທຓຽບາ 10,17% ຂບຄ GDP; ຂະໜຄບຈຘານະກ າຍ ໃ ປໃ -ກາຌຂຈ ໄຌ ຽຑໃ ຓຂ ໄຌ 8,10% ນ ກທຓຽບາ 6,98% ຂບຄ GDP

ຖະ ຂະໜຄບຈຘານະກ າແຒຒໄາ-ຌ ໄາຎະຎາ ຽຑໃ ຓຂ ໄຌ 0,25% ນ ກທຓຽບາ 4,49% ຂບຄ GDP (ຉາຉະຖາຄ 2).

3. ຂະໜຄຍ ຖກາຌ

ເຌຎ 2012, ຂະໜຄກາຌຍ ຖກາຌຂະນງາງຉທເຌຖະຈຍ 9,23%, ຓຌໃ າຄໝຈຍຌຖແຈ ໄ 14.155,79 ຉ ໄ

ກຍ ນ ກທຓຽບາ 38,54% ຂບຄ GDP (ປຍ 4); ເຌຌ ໄຌ, ກາຌຍ ຖກາຌຈ ໄາຌກາຌຽຄຌ ຽຑໃ ຓຂ ໄຌ 11,93% ນ

ກທຓຽບາ 3,68% ຂບຄ GDP; ກາຌຍ ຖກາຌຈ ໄາຌກາຌ ໄາ, ຂາງງກ, ຂາງງໃ ບງ ຖະ ຘ ໄບຓຎຄ ຽຑໃ ຓຂ ໄຌ

10,35% ນ ກທຓຽບາ 19,75% ຂບຄ GDP; ກາຌຍ ຖກາຌຂບຄຑາກຖຈ ຽຑໃ ຓຂ ໄຌ 9,42% ນ ກທຓຽບາ 7,53%

ຂບຄ GDP; ກາຌຍ ຖກາຌຈ ໄາຌປຄປຓ ຖະ ປ ໄາຌບານາຌ ຽຑໃ ຓຂ ໄຌ 8,35% ນ ກທຓຽບາ 0,72% ຂບຄ GDP;

ກາຌຍ ຖກາຌຈ ໄາຌກາຌຽຆໃ າຆ ໄ ຖະ ກາຌຍ ຖກາຌຖະກຈ ຽຑໃ ຓຂ ໄຌ 8,00% ນ ກທຓຽບາ 2,99% ຂບຄ GDP;

ກາຌຍ ຖກາຌຈ ໄາຌກາຌຂຌຘໃ ຄ, ຘາຄ, ແຎຘະຌ ຖະ ຖະຓຓະຌາຓ ຽຑໃ ຓຂ ໄຌ 6,27% ນ ກທຓຽບາ 4,71%

ປຍ 2: ບຈຉາກາຌຂະນງາງຉທຂບຄຂະໜຄກະຘກ າ

3,72% 2,83% 3,19% 2,66% 3,27%

32,41% 31,00%29,58%

28,11%26,90%

0

5

10

15

20

25

30

35

2008 2009 2010 2011 2012

ບຈຉາກາຌຂະນງາງຉທຂະໜຄກະຘກ າ ບຈຉາຘໃ ທຌຂະໜຄກະຘກ າຉ ໃ (ຈຑ)

ປຍ 3: ບຈຉາກາຌຂະນງາງຉທຂບຄຂະໜຄບຈຘານະກ າ

10,42%

18,48% 17,49%

14,62%

11,41%

21,61%23,82%

25,88%27,46% 28,34%

0

5

10

15

20

25

30

2008 2009 2010 2011 2012

ບຈຉາກາຌຂະນງາງຉທຂະໜຄບຈຘານະກ າ ບຈຉາຘໃ ທຌຂະໜຄບຈຘານະກ າຉ ໃ (ຈຑ)



ຽຎຽຆຌ (%)

ຽຎຽຆຌ (%)


Bank of the Lao PDR


2. Industry Industrial sector increased by 11.41 percent compared to last year, with the Total

value of Kip 10,411.10 billion or equivalent to 28.34 percent of GDP (Figure 3). Of

which, construction rose by 19.15 percent or 6.70 percent of GDP, manufacturing

increased by 14.54 percent or represented 10.17 percent of GDP; mining and quarrying

rose by 8.10 percent or 6.98 percent of GDP, and electricity and water rose by 0.25

percent or 4.49 percent of GDP (Table 2).

3. Service In 2012, service sector increased by 9.23 percent, which was amounted at Kip

14,155.79 billion and represented 38.54 percent of GDP (Figure 4). Of which, financial

intermediation rose by 11.93 percent or 3.68 percent of GDP, trade service, wholesale,

retail trade and repair rose by 10.35 percent or covered 19.75 percent of GDP;

Government services rose by 9.42 percent or 7.53 percent of GDP; hotels and restaurants

rose by 8.35 percent or covered 0.72 percent of GDP; real estate and business service rose

by 8.00 percent or 2.99 percent of GDP; transport and community-action rose by 6.27

percent or 4.71 percent of GDP; private households with employed persons rose by 5.64

3.72% 2.83% 3.19% 2.66% 3.27%

32.41%31.00%

29.58%28.11%

26.90%

0

5

10

15

20

25

30

35

2008 2009 2010 2011 2012

Growth Rate of Agriculture Agricultural Component of GDP

Figure 2: Growth of Agriculture

10.42%

18.48%17.49%

14.62%

11.41%

21.61%23.82%

25.88%27.46% 28.34%

0

5

10

15

20

25

30

2008 2009 2010 2011 2012

Growth Rate of Industry Industrial Component of GDP

Percent



Figure 3: Growth of Industry

Percent




ຂບຄ GDP; ກາຌ ໄາຄຄາຌຑາງເຌທຽປບຌ ຽຑໃ ຓຂ ໄຌ 5,64% ນ ກທຓຽບາ 0,67% ຂບຄ GDP; ກາຌຍ ຖກາຌ

ຈ ໄາຌຓທຌຆຌ, ຘຄຓ ຖະ ຘໃ ທຌຍກຌ ຽຑໃ ຓຂ ໄຌ 5,00% ນ ກທຓຽບາ 1,62% ຂບຄ GDP;

4. ກາຌຎໃ ຌຎຄຄຎະກບຍ GDP

ຄຎະກບຍຂບຄ GDP ເຌຎ 2012, ຂະໜຄກາຌຍ ຖກາຌ ງຄກທຓບຈຉາຘໃ ທຌເນງໃ ຆໃ ຄກທຓ 38,54%

ຂບຄ GDP ນ ຽຑໃ ຓຂ ໄຌ 9,23% ຍກຍຎຏໃ າຌຓາ; ປບຄຖຄຓາຓໃ ຌຂະໜຄບຈຘານະກ າ ກທຓຽບາ 28,34%

ຂບຄ GDP ນ ຽຑໃ ຓຂ ໄຌ 11,41 % ຍກຍຎຏໃ າຌຓາ; ຘ າຖຍຂະໜຄກະຘກ າ ກທຓຽບາ 26,90% ຂບຄ GDP ນ

ຽຑໃ ຓຂ ໄຌ 3,27% ຍກຍຎຏໃ າຌຓາ ຖະ ຑາຘຌ າຽຂ ໄາ ກທຓຽບາ 6,22% ນ ຽຑໃ ຓຂ ໄຌ 5,69% (ປຍ 5).

5. ຖະຈຍຖາາ

ຎ 2012, ບຈຉາຽຄຌຽຒໄຘະຽຖໃ ງໝຈຎດໃ ເຌຖະຈຍ 4,26% ນຈຖຄາກ 7,58% ຂບຄຎ 2011, ຘະຑາຍບຈ ຉາຽຄຌຽຒໄຂບຄ ຘຎຎ ຖາທ ຘາຓາຈປກຘາແຈ ໄຉາຓາຈໝາງໃ ກ າຌຈແທ ໄ (ຘະຽຖໃ ງໝຈຎເຌຖະຈຍໜໃ ຄຉທຽຖກ

ຖະ ຉ ໃ າກທໃ າບຈຉາກາຌຂະນງາງຉທຂບຄຽຘຈຊະກຈ). ຘາຽນຈໃ ຽປຈເນ ໄບຈຉາຽຄຌຽຒໄຂບຄ ຘຎຎ ຖາທ ຓໃ າບໃ ຄນຈຖຄ ຓາາກ 2 ຎຈເຉ ໄຌຉ : (1) ຎຈແຑາງເຌ ຓໃ ຌງ ໄບຌຖາາຽຂ ໄາຽຎບກ ຖະ ຽຂ ໄາຘາຌເຌໃ ທຎະຽຈນຈ

ປຍ 4: ບຈຉາກາຌຂະນງາງຉທຂບຄຂະໜຄຍ ຖກາຌ

12,40%

6,02% 6,95% 8,06% 9,23%

39,03% 38,49% 38,07% 38,08% 38,54%

0

5

10

15

20

25

30

35

40

45

2008 2009 2010 2011 2012

ບຈຉາກາຌຂະນງາງຉທຂະໜຄຍ ຖກາຌ ບຈຉາຘໃ ທຌຂະໜຄຍ ຖກາຌຉ ໃ (ຈຑ)

32,41% 31,00% 29,58% 28,11% 26,90%

21,61% 23,82% 25,88% 27,46% 28,34%

39,03% 38,49% 38,07% 38,08% 38,54%

6,94% 6,68% 6,46% 6,35% 6,22%

0

20

40

60

80

100

120

2008 2009 2010 2011 2012

ຑາຘກາຌຌ າຽຂ ໄາ

ຍ ຖກາຌ

ບຈຘານະກ າ

ກະຘກ າ

ປຍ 5: ກາຌຎໃ ຌຎຄຄຎະກບຍຂບຄ GDP



ຽຎຽຆຌ (%)

ຽຎຽຆຌ (%)


Bank of the Lao PDR


percent or represented 0.67 percent of GDP; community, social and personal services up

by 5.00 percent or covered 1.62 percent of GDP.

4. Changes in GDP Components

The major share of GDP components in 2012 remained in service sector, which

accounted for 38.54 percent of GDP or rose by 9.23 percent compared to previous year;

followed by industrial sector that accounted for 28.34 percent of GDP or rose by 11.41

percent; agricultural sector accounted for 26.90 percent of GDP or rose by 3.27 percent,

while the net import duties covered 6.22 percent or rose by 5.69 percent (Figure 5).

5. Price Level In 2012, an average annual inflation rate was declined to 4.26 percent from a peak

of 7.58 percent in 2011, and remaining stable as targeted (average annual rate at a single

digit and lower than GDP growth rate). The key factors run down the inflation were (1)

the internal factor is that a decrease in prices of paddy and rice within the country due to

12.40%

6.02% 6.95% 8.06% 9.23%

39.03% 38.49% 38.07% 38.08% 38.54%

0

5

10

15

20

25

30

35

40

45

2008 2009 2010 2011 2012

Growth Rate of Services Services Component of GDP

32.41% 31.00% 29.58% 28.11% 26.90%

21.61% 23.82% 25.88% 27.46 28.34%

39.03% 38.49% 38.07% 38.08% 38.54%

6.94% 6.68% 6.46% 6.35% 6.22%

0

20

40

60

80

100

120

2008 2009 2010 2011 2012

Import Duties

Services

Industry

Agriculture

Figure 4: Growth of Services Percent



Figure 5: Changes in GDP Components Percent




ຖຄ ຆໃ ຄກາຌຏະຖຈຽຂ ໄາຌາຎ ຖະ ຌາຆຄຘາຓາຈຉບຍຘະໜບຄຑຄຑ ກຍທາຓຉ ໄບຄກາຌຑາງເຌຎະຽຈ; (2) ຎຈແຑາງຌບກຓໃ ຌງ ໄບຌຖາາຌ ໄາຓຌ, ຖາາ າ ຖະ ຖາາຘຌ ໄາເຌຉະນາຈຖກຎຍຉທ ນຈຖຄ. ຑ ໄບຓກຌຌ ໄຌ,

ໃ າບໃ ຄບຈຉາຽຄຌຽຒໄຍຌຈາຎະຽຈຽຑໃ ບຌຍ ໄາຌນຈຖຄ ຽປຈເນ ໄກາຌຌ າຽຂ ໄາຘຌ ໄາ (ກາຌຌ າຽຂ ໄາຽຄຌຽຒໄ) າກຎະຽຈເກ ໄຄນຈຖຄ. ຽຊຄດໃ າຄເຈກ ໃ ຉາຓ, ເຌຎ 2012 ໝທຈຘຌ ໄາເຌກະຉໃ າຘຌ ໄາຓກາຌຎໃ ຌຎຄຈໃ ຄຌ ໄ: ໝທຈຓຓະຌາຓ-ຂຌຘໃ ຄ ນຈຖຄ 6,34% ນ ກທຓຌ ໄາໜກ 24,24%; ໜທຈຘະຍຄບານາຌຽໃ ບຄຈໃ ຓຍ ໃ ຓໃ ຌຽນ ໄາ ນຈຖຄ 5,43% ນ ກທຓຌ ໄາໜກ 36,50%; ຖະ ໝທຈແຎຘະຌ-ຖະຓ ນຈຖຄ 3,20% ນ ກທຓຌ ໄາໜກ 3,59%;

ກຄກຌຂ ໄາຓ, ໝທຈໃ ຑກບາແຘ, ຌ ໄາຎະຎາ, ແຒຒໄາ ຖະ ຽຆ ໄບຽຑຄນຄຉ ໄຓ ຽຑໃ ຓຂ ໄຌ 4,25% ນ ກທຓຌ ໄາໜກ

5,33%; ໜທຈປ ໄາຌບານາຌ-ປຄປຓ ຽຑໃ ຓຂ ໄຌ 2,78% ນ ກທຓຌ ໄາໜກ 4,89% ຖະ ໝທຈກາຌຘກຘາ ຽຑໃ ຓຂ ໄຌ 2,06% ນ ກທຓຌ ໄາໜກ 3,58% (ຉາຉະຖາຄ 4).

II. ຂະໜຄກາຌຽຄຌຂບຄຖຈ 1. ຊາຌະກາຌຽຄຌຂບຄຖຈ

ຘກຎ 2011/2012, ຖາງປຍຄຍຎະຓາຌ (ຖທຓຄຽຄຌຆໃ ທງຽນບຖ ໄາ) ຽຑໃ ຓຂ ໄຌ 22,33% ນ ຎະຉຍຈ

16.992,40 ຉ ໄກຍ ກທຓຽບາ 24,16% ຂບຄ GDP ຍເຘໃ ຘກຎ 2010/2011 (ປຍ 7). ເຌຌ ໄຌ ກາຌຽກຍຖາງປຍຑາງເຌ ຎະຉຍຈແຈ ໄ 12.436,75 ຉ ໄກຍ ກທຓຽບາ 17,67% ຂບຄ GDP ຖະ ຖາງປຍາກຆໃ ທງຽນບຖ ໄາ ຎະຉຍຈແຈ ໄ 4.564,65 ຉ ໄກຍ. ໃ ຄໃ ກຌຌ ໄຌ ຖາງໃ າງຄຍຎະຓາຌ ຖະ ເນ ໄກ ໄດຓຘຈຄໝຈ ຽຑໃ ຓຂ ໄຌ 19,32%

ນ ຎະຉຍຈແຈ ໄ 18.021,03 ຉ ໄກຍ ນ ກທຓຽບາ 25,62% ຂບຄ GDP. ເຌຌ ໄຌ, ຖາງໃ າງຍ ຖນາຌໃ ທແຎຎະຉຍຈແຈ ໄ 9.364,98 ຉ ໄກຍ ຖະ ຖາງໃ າງກາຌຖຄຌ ຖະ ເນ ໄຽຄຌກ ໄດຓຘຈຎະຉຍຈແຈ ໄ 8.656,15 ຉ ໄກຍ ກາຌຂາຈຈຌຄຍຎະຓາຌຍ ໃ ຖທຓຽຄຌຆໃ ທງຽນບຖ ໄາ ຎະຉຍຈແຈ ໄ 5.593,28 ຉ ໄກຍ ນ ກທຓຽບາ 7,95% ຂບຄ GDP

(ຉາຉະຖາຄ 5).

36,50%

5,33%5,61%

24,24%

4,89%

1. ໝທຈບານາຌ ຖະ ຽໃ ບຄຈໃ ຓຍ ໃ ຓໃ ຌຽນ ໄາ

2. ໝທຈຽນ ໄາ ຖະ ດາຘຍ

3. ໝທຈຽໃ ບຄຌໃ ຄປໃ ຓ ຖະ ຽກຍ

4. ໝທຈໃ ຑກບາແຘ, ຌ ໄາຎະຎາ, ແຒຒໄາ ຖະ ຽຆ ໄບຽຑຄ

5. ໝທຈຽໃ ບຄເຆ ໄເຌຽປບຌ

6. ໝທຈກາຌປກຘາຘຂະຑາຍ

7. ໝທຈຓຓະຌາຓ ຖະ ກາຌຂຌຘໃ ຄ

8. ໝທຈແຎຘະຌ ຖະ ຖະຓຓະຌາຓ

9. ໝທຈກາຌຍຌຽຄ ຖະ ກາຌຑກຏໃ ບຌ

10. ໝທຈກາຌຘກຘາ

11. ໝທຈປໄາຌບານາຌ ຖະ ປຄປຓ

12. ໝທຈຘຌ ໄາ ຖະ ກາຌຍ ຖກາຌບໃ ຌໂ

7,63%

0,03%

5,98%

7,58%

4,26%

0

1

2

3

4

5

6

7

8

9

2008 2009 2010 2011 2012

ບຈຉາຽຄຌຽຒໄ (ຎຉ ໃ ຎ)

ປຍ 6: ບຈຉາຽຄຌຽຒໄ


ຽຎຽຆຌ (%)

ຈຈຆະຌຖາາຆຓເຆ ໄຂບຄທຽປບຌງກຉາຓໝທຈຘຌ ໄາ

ຽຎຽຆຌ (%)


Bank of the Lao PDR


sufficient supply in domestic market and (2) the external factor is a decrease in prices of

oil, gold, and commodities in the global market. At the same time, the decline in inflation

rates in neighboring countries caused to the decline in number of import of goods

(imported inflation). Nevertheless, a group of commodities in basket has changed in year

2012 as follows: transports and communications dropped by 6.34 percent or can be

weighted of 24.24 percent; food and non-alcoholic beverages dropped by 5.43 percent

with the weight of 36.50 percent; and communications decreased by 3.20 percent with the

weight of 3.59 percent. Adversary, housing, water, electricity and fuels rose by 4.25

percent or represented the weight of 5.33 percent; the hotels and restaurants was slightly

increased by 2.78 percent with the weight of 4.89 percent, education rose by 2.06 percent

and represented the weight of 3.58 percent (Table 4).

II. Public Finance 1. Fiscal Performance

In fiscal year (FY) 2011/2012, revenues (including grants) were amounted to Kip

16,992.40 billion, rose by 22.33 percent or represented 24.16 percent of GDP compared

to FY 2010/2011 (Figure7). Of which, revenues from domestic sources and grants were

Kip 12,427.75 billion covered 17,67 percent of GDP and Kip 4,564.65 billion

respectively. In parallel, expenditures and net lending were amounted to Kip 18,021.03

billion, rose by 19.32 percent or covered 25.62 percent of GDP. Of which, current

expenditures achieved Kip 9,364.98 billion and expenditure and net lending were kept at

Kip 8,656.15 billion, Fiscal deficit was (excluding grants) amounted to Kip 5,593.28

billion or covered 7.95 percent of GDP (Table 5).

36.50%

5.33%5.61%

24.24%

4.89%

1. Foods and non-alcoholic beverages

2. Alcoholic beverages and tobacco

3. Clothing and Foot wear

4. Housing, water, light and fuel charges

5. Furnishings, household equipment

6. Medical care

7. Transport and communications

8. Post and telecommunication

9. Entertainment and recreation

10. Education Index

11. Restaurants and Hotel

12. Miscellaneous goods and services

7.63%

0.03%

5.98%

7.58%

4.26%

0

1

2

3

4

5

6

7

8

9

2008 2009 2010 2011 2012

Inflation yoy

Source: Department of Economic Statistics, Lao statistics Bureau, Ministry of Planning and Investment

Percent

Percent

Figure 6: Inflation Rates

Bank of the Lao PDR


2. ຖາງປຍຄຍຎະຓາຌ

ເຌຘກຎ 2011/2012 ກາຌຽກຍຖາງປຍຄຍຎະຓາຌ ຖະ ຽຄຌຆໃ ທງຽນຖບຖ ໄາຄໝຈ ຓໃ ຌຎະຉຍຈແຈ ໄ 16.992,40 ຉ ໄກຍ, ຽຑໃ ຓຂ ໄຌ 22,33% ຍເຘໃ ຘກຎ 2010/2011 ຖະ ກທຓຽບາ 24,16% ຂບຄ GDP ຽຌໃ ບຄາກກາຌຽກຍຖາງປຍຑາງເຌ (າກຑາຘ-ບາກບຌ ຖະ ຍ ໃ ຓໃ ຌຑາຘບາກບຌ ) ຘາຓາຈຎະຉຍຈແຈ ໄ 12.427,75

ຉ ໄກຍ, ຽຑໃ ຓຂ ໄຌ 22,06% ຍເຘໃ ຘກຎ 2010/2011 ນ ກທຓຽບາ 17,67% ຂບຄ GDP ຖະ ຓຖາງປຍາກກາຌຆໃ ທງຽນບຖ ໄາ ຽຑໃ ຓຂ ໄຌ 23,08%, ຎະຉຍຈແຈ ໄ 4.564,65 ຉ ໄກຍ ນ ກທຓຽບາ 6,49%; ຘ າຖຍຖາງປຍຑາງເຌໃ ຽຑໃ ຓຂ ໄຌຉ ໄຌຉ ຓາາກຖາງປຍຑາຘ-ບາກບຌ ຓໃ ຌຘາຓາຈຎະຉຍຈແຈ ໄ 10.914,85 ຉ ໄກຍ, ຽຑໃ ຓຂ ໄຌ 19,83%

ຍເຘໃ ຘກຎ 2010/2011 ນ ກທຓຽບາ 15,52% ຂບຄ GDP ຖະ ກທຓຽບາ 85,95% ຂບຄຖາງປຍຄໝຈ

ຈງຓຖາງປຍໃ ຽຑໃ ຓຂ ໄຌ ຓາາກ (1) ຂະໜຄປໃ າຈ, (2) ຂະໜຄຑະຖຄຄາຌແຒຒໄາ, (3) ຖາງປຍຍ ໃ ຓໃ ຌຆຍ

ຑະງາກບຌ າຓະຆາຈ ຖະ (4) ຖາງປຍໃ ຍ ໃ ຓໃ ຌຑາຘ-ບາກບຌ (ປຍ 8).

6.4

39

,14

7.0

30

,43

8.5

38

,38

10

.18

1,2

7

12

.42

7,7

5

5.6

27

,10

6.2

07

,58

7.5

0,.

55

9.1

08

,64

10

.91

4,8

5

81

2,0

4

82

2,8

5

1.0

35

,82

1.0

72

,63

1.5

21

,90

0

2000

4000

6000

8000

10000

12000

14000

2007/08 2008/09 2009/10 2010/11 2011/12(P)

ຖາງປຍຑາງເຌ ຖາງປຍຑາຘບາກບຌ ຖາງປຍຍ ໃ ຓໃ ຌຑາຘບາກບຌ

ປຍ 8: ຖາງປຍຄຍຎະຓາຌ

ນໃ ຄຂ ໄຓຌ: ກຓຌະງຍາງກາຌຽຄຌ, ກະຆທຄກາຌຽຄຌ

ຉ ໄກຍ

17,43% 17,31%

22,29% 22,24% 24,16%

20,52% 20,67%

24,58% 24,18%25,62%

-5,94% -5,78%

-8,85% -7,88% -7,95%

-15

-10

-5

0

5

10

15

20

25

30

2007/08 2008/09 2009/10 2010/11 2011/12(P)

ຖາງປຍຑາງເຌຖທຓຄຽຄຌຆໃ ທງຽນບຖ ໄາຉ ໃ ຈຑ ຖທຓງບຈຖາງໃ າງ ຖະ ເນ ໄກ ໄດຓຘຈຉ ໃ ຈຑຂາຈຈຌຄຍຎະຓາຌຍ ໃ ຖທຓຽຄຌຆໃ ທງຽນບຖ ໄາຉ ໃ ຈຑ

ປຍ 7: ຊາຌະກາຌຽຄຌຂບຄຖຈ


ຽຎຽຆຌ (%)


Bank of the Lao PDR


2. Budgetary Revenue

In FY 2011/2012, the total budget revenues and grants achieved Kip 16,992.40

billion, increased by 22.33 percent and covered 24.16 percent of GDP compared to FY

2010/2011. An increase of revenues was from tax revenues and non-tax revenues which

amounted to Kip 12,427.75 billion, up by 22.06 percent compared to FY 2010/2011, and

covered 17.67 percent of GDP; revenue from grants was amounted to Kip 4,564.65

billion rose by 23.08 percent covered 6.49 percent; increasing in tax revenue was the

main driven factor that caused higher in revenues that achieved at Kip 10,914.85 billion,

rose by 19.83 percent or equal to 15.52 percent of GDP and represented to 85.95 percent

of total revenues compared to FY 2010/2011. The increase of revenues was (1) Mining

sector, (2) Electricity sector, (3) income from non-natural resources, and (4) Non-tax

revenue (Figure 8).

3. Expenditures

In FY 2011/2012, expenditures have seen a two digits level, budgetary expenditure

achieved Kip 18,021.02 billion, increased by 19.32 percent compared to FY 2010/2011

and equal to 25.62 percent of GDP (Figure 9), driven by total current expenditure that

rose to Kip 9,364.88 billion or up by 18.46 percent compared to FY 2010/2011 and equal

to 51.97 percent of total expenditure. Of which, expensed on wages and salaries increased

6,4

39

.14

7,0

30

.43

8,5

38

.38

10

,18

1.2

7

12

,42

7.7

5

5,6

27

.10

6,2

07

.58

7,5

02

.55

9,1

08

.64

10

,91

4.8

5

81

2,0

4

82

2,8

5

1,0

35

.82

1,0

72

.63

1,5

21

.9

0

2000

4000

6000

8000

10000

12000

14000

2007/08 2008/09 2009/10 2010/11 2011/12(P)

Revenues Tax Revenues Non-tax Revenues

Billion Kip Figure 8: Revenues

Source: Financial Policy Department, Ministry of Finance

17.43% 17.31%22.29% 22.24% 24.16%

20.52% 20.67%

24.58% 24.18% 25.62%

-5.94% -5.78%-8.85% -7.88% -7.95%

-15

-10

-5

0

5

10

15

20

25

30

2007/08 2008/09 2009/10 2010/11 2011/12(P)

Revenues and Grants/GDP Expenditures and Net Lending/GDP

Overall Cash Balance Excluding Grants/GDP

Figure 7: Fiscal Performance

Percent



3. ຖາງໃ າງຄຍຎະຓາຌ ຑາກຖາງໃ າງຄຍຎະຓາຌ ງຄຓໃ າບໃ ຄຘຍຉ ໃ ຽຑໃ ຓຂ ໄຌເຌຖະຈຍຘບຄຉທຽຖກ. ເຌຘກຎ 2011/2012 ແຈ ໄ

ຎະຉຍຈກາຌຽຍກໃ າງຄໝຈ 18.021,03 ຉ ໄກຍ ຽຑໃ ຓຂ ໄຌ 19,32% ຍເຘໃ ຘກຎ 2010/2011 ນ ກທຓຽບາ 25,62% ຂບຄ GDP (ປຍ 9). ຘາຽນຈງ ໄບຌຖາງໃ າງຍ ຖນາຌໃ ທແຎຄໝຈ ຽຑໃ ຓຂ ໄຌ ຓາຽຎຌ 9.364,88 ຉ ໄກຍ ນຖ ຽຑໃ ຓຂ ໄຌ 18,46% ຍເຘໃ ຘກຎ 2010/2011 ນ ກທຓຽບາ 51,97% ຂບຄງບຈຖາງໃ າງຄຍຎະຓາຌຄໝຈ ເຌຌ ໄຌ, ຖາງໃ າງຽຄຌຽຈບຌ ຖະ ຽຄຌບຈໜຌຉໃ າຄໂ ຽຑໃ ຓຂ ໄຌ 21,08% ຖະ ກທຓຽບາ 19,76% ຂບຄງບຈຖາງໃ າງຄໝຈ, ຍ ໄທຄຽຄຌບຌ ຖະ ທຈຊບຎະກບຌ ຽຑໃ ຓຂ ໄຌ 7,98% ຖະ 21,45% ນ ກທຓຽບາ 11,18%

ຖະ 9,69% ຉາຓຖ າຈຍ. ຘ າຖຍຖາງໃ າງເຌກາຌຖຄຌເຘໃ ໃ ຄຖໃ າຄຑ ໄຌຊາຌຄໝຈ ຎະຉຍຈແຈ ໄ 8.656,15 ຉ ໄກຍ, ຽຑໃ ຓຂ ໄຌ

20,27% ຍເຘໃ ຘກຎ 2010/2011 ນ ກທຓຽບາ 48,03% ຂບຄຖທຓງບຈຖາງໃ າງຄຍຎະຓາຌຄໝຈ, ເຌຌ ໄຌ; ນໃ ຄຌາກຉໃ າຄຎະຽຈ ງຄຓບຈຉາຘໃ ທຌນາງກໃ ທາໝໃ ກທຓຽບາ 69,35% ຂບຄຖາງໃ າງເຌກາຌຖຄຌເຘໃໃ ຄຖໃ າຄຑ ໄຌຊາຌຄໝຈ ຽຆໃ ຄຓາາກຽຄຌຆໃ ທງຽນບຖ ໄາຍ ໃ ຓໃ ຌຄກາຌ, ຽຄຌກ ໄດຓຄກາຌ ຖະ ຽຄຌຆໃ ທງຽນບຄກາຌ ກທຓຽບາ 13,77%, 20,94% ຖະ 34,64% ຉາຓຖ າຈຍ ຖະ ງຄຓຍ ໄທຄນໃ ຄຌຑາງເຌຎະຉຍຈແຈ ໄ 2.652,82 ຉ ໄກຍ ຖະ ກທຓຽບາ 30,65% ຂບຄຖາງໃ າງເຌກາຌຖຄຌເຘໃ ໃ ຄຖໃ າຄຑ ໄຌຊາຌຄໝຈ.

(ຉາຉະຖາຄ 5).

4. ຈໃ ຌຈໃ ຄຄຍຎະຓາຌ ກາຌຈຉ ໄຄຎະຉຍຈຄຍຎະຓາຌເຌຘກຎ 2011/2012 ຽນຌທໃ າຓກາຌຎຍຎຄຈຂ ໄຌຽໃ ບຖະກ ໄາທ ຽຓໃ ບຍ

ເຘໃ ຆຓຎຏໃ າຌຓາ, ງ ໄບຌຖຈຊະຍາຌຽບາເເຘໃ ຽກຍຖາງປຍແຈ ໄຽຑໃ ຓຂ ໄຌຽກຌາຈໝາງເຌຽຍ ໄບຄຉ ໄຌ ຽປຈເນ ໄກາຌ ຂາຈຈຌຄຍຎະຓາຌນໃ ຄຖຈນຖຈຖຄເຌຖະຈຍຘບຄຉທຽຖກ ຈງຖທຓງຄຂາຈຈຌຄຍຎະຓາຌດໃ 1.028,63 ຉ ໄກຍ

ນຖ ຂາຈຈຌນຖຈຖຄ 15,19% າກ 1.212,84 ຉ ໄກຍ ເຌຘກຎ 2010/2011 ຖະ ກທຓຽບາ 7,95% ຂບຄ GDP (ປຍ 10). ຘາຽນຈງ ໄບຌຓນໃ ຄຌຆໃ ທງຽນບຖ ໄາ ຽຑໃ ຓຂ ໄຌ 23,08% ນຖ 4.564,65 ຉ ໄກຍ. ເຌຌ ໄຌ, ຓາ າກກາຌຆໃ ທງຽນບຖ ໄາເຌກາຌກະກຓກບຄຎະຆຓເນງໃບາຽຆຍ ໄຄ 7 ຖະ ກບຄຎະຆຓຘຈງບຈຏ ໄຌ າ ບາຽຆຓ

ໄຄ 9 ຖະ ນໃ ຄຌຑາງເຌາກຖະຍຍະຌາາຌ າຌທຌ 1.534,91 ຉ ໄກຍ ນຖ ກທຓຽບາ 2,18% ຂບຄ GDP (ຉາຉະຖາຄ 5).

9.0

65

,66

9.7

61

,56

13

.34

2,4

1

15

.10

2,9

18

.02

1,0

3

5.4

23

,62

6.4

37

,13

6.9

28

,71

7.9

05

,76

9.3

64

,89

3.6

42

,03

3.2

34

,43

6.4

1,.

70

7.9

05

,76

8.6

56

,15

0

5000

10000

15000

20000

2007/08 2008/09 2009/10 2010/11 2011/12(P)

ຖທຓງບຈຖາງໃ າງ ຖະ ເນ ໄກ ໄດຓຘຈ ຖາງໃ າງຍ ຖນາຌໃ ທແຎ ຖາງໃ າງຖຄຌ ຖະເນ ໄກ ໄດຓຘຈ

ປຍ 9: ຖາງໃ າງຄຍຎະຓາຌ


ຉ ໄກຍ


Bank of the Lao PDR


by 21.08 percent, covered 19.76 percent of total current expenditure; transfers, materials

and supplies rose by 7.98 percent and 21.45 percent or represented 11.18 percent and 9.69

percent respectively.

The total expenditure for investment in infrastructure sector was amounted to Kip

8,656.14 billion, rose by 20.27 percent or represented 48.03 percent of total budgetary

expenditure compared to FY 2010/2011. Of which, source of fund from abroad has

shown the largest proportion of 69.35 percent of the total expenditure on infrastructure,

that came from a grants for non-project, project loans and project grants covered 13.77

percent, 20.94 percent and 34.64 percent respectively, and the rest belongs to local

finance that amounted to Kip 2,652.82 billion and covered 30.65 percent of total

expenditure on infrastructure investment (Table 5).

4. Fiscal Financing

The fiscal management in FY 2011/2012 has better developed and achieved the goal

gradually if compared to the previous year, since the government has been able to collect

the revenue that higher than an initial expectations set by the government, which resulted

to two digits decreasing of fiscal deficit. However, fiscal deficit still accounted for Kip

1,028.63 billion or decreased by 15.19 percent from Kip 1,212.84 billion in FY

2010/2011, or 7.95 percent of GDP (Figure 10), due to an increase in source of grants,

which up to 23.08 percent or was amounted to Kip 4,564.65 billion. Of which, most of

the grants came from the supported fund for the preparation of the 7th ASEP Meeting, the

9th ASEM Meeting, and from banking sector with amounted of Kip 1,534.91 billion and

accounted by 2.18 percent of GDP (Table 5).

9,0

65

.66

9,7

61

.56

1,3

34

2.4

1

15

,10

2.9

18

,02

1.0

3

5,4

23

.62

6,4

37

.13

6,9

28

.71

7,9

05

.76

9,3

64

.89

3,6

42

.03

3,2

34

.43

6,4

13

.7

7,9

05

.76

8,6

56

.15

0

2000

4000

6000

8000

10000

12000

14000

16000

18000

20000

2007/08 2008/09 2009/10 2010/11 2011/12(P)

Expenditures and Net Lending Current Expenditures Capital Expenditure

Billion Kip Figure 9: Expenditures



III. ຂະໜຄຽຄຌຉາ 1. ຌະງຍາງບຈຉາຖກຎໃ ຌ

ນຖ ຘຍຉ ໃ ຎະຉຍຈຌະງຍາງບຈຉາຖກຎໃ ຌຉາຓກຌແກຉະນາຈໃ ຓກາຌ ໄຓບຄຂບຄຖຈ ຽຎຌຽໃ ບຄ ຓຉ ໄຌຉ ເຌກາຌປກຘາຘະຊຌຖະຑາຍຽຄຌຉານໃ ຄຆາຈ ຈ ໄທງກາຌຉຈຉາຓກາຌຽໃ ບຌແນທຂບຄຉະນາຈຽຄຌຉາຉໃ າຄ ຎະຽຈຄຑາງເຌ ຖະ ຘາກຌດໃ າຄເກ ໄຆຈ ຽຑໃ ບຽຎຌຑ ໄຌຊາຌເຌກາຌກ າຌຈບຈຉາຖກຎໃ ຌບ ໄາຄບຄ ກຍ/ຈຖາຘະນະຖຈ ເຌຉໃ ຖະທຌ ຖະ ຘຍຉ ໃ ກ າຌຈຂບຍຽຂຈກາຌຽໜຄຉຄຂບຄບຈຉາຖກຎໃ ຌຆ ໄ-ຂາງ, ຑ ໄບຓກຌຌ ໄຌ ນຖ ແຈ ໄຘຍຉ ໃ ຆກງ ໄເນ ໄະຌາາຌຖະກຈຆ ໄ-ຂາງຽຄຌຉາເຌຉະນາຈຖະນທໃ າຄະຌາາຌນາງຂ ໄຌ, ຎະຉຍຈຌະ ງຍາງຏໃ ບຌາງກາຌຆ ໄ-ຂາງຽຄຌຉາຉໃ າຄຎະຽຈຈງຍ ໃ ປກປ ໄບຄຽບກະຘາຌ ຖະ ຍ ໃ າກຈ າຌທຌ, ຑ ໄບຓຄຆກ ງ ໄເນ ໄໜໃ ທງຖກຎໃ ຌຂບຄະຌາາຌຖະກຈ ຖະ ປ ໄາຌຖກຎໃ ຌຽບກະຆຌຂະນງາງຉທເນ ໄກທ ໄາຄຂທາຄເຌຂບຍຽຂຈໃ ທຎະຽຈ;

ຘຍຉ ໃ ຈຈຘຓຉະນາຈຽຄຌຉາຉໃ າຄຎະຽຈຽຓໃ ບຓທາຓ າຽຎຌຉາຓຑາຖະຍຈຍາຈຽຎຌນໃ ຄຘະໜບຄຘຈ ໄາງ ຌເຘໃ ຉບຍຘະໜບຄຽຄຌຉາຉໃ າຄຎະຽຈເນ ໄຑຄຑ ກຍທາຓຉ ໄບຄກາຌຂບຄຘຄຓແຈ ໄຈງຑ ໄຌຊາຌ ຖະ ນຈຏໃ ບຌ ກາຌຆ ໄ-ຂາງຽຄຌຉາຉໃ າຄຎະຽຈ ຍຍຆະຆາງຖຄຽໃ ບຖະກ ໄາທ. ຏໃ າຌກາຌຎະຉຍຈຌະງຍາງຈໃ ຄກໃ າທ, ເຌຎ 2012 ນຖ ຘາຓາຈຘຍຉ ໃ ປກຘາຘະຊຌຖະຑາຍຂບຄໃ າຽຄຌກຍແຈ ໄດໃ າຄໝ ໄຌໃ ຄ: ຽຄຌກຍຍກຍຽຄຌຈຖາຘະນະ

ຖຈ ຂຄໃ າ 0,26% ຖະ ຂຄໃ າ 2,26% ຍກຍຽຄຌຍາຈ. ຄຘ າປບຄຽຄຌຉາຉໃ າຄຎະຽຈກ ໄຓກາຌຌ າຽຂ ໄາແຈ ໄ 5,22 ຽຈບຌ (ຉາຉະຖາຄ 12).

245

250

255

260

265

270

7960

7980

8000

8020

8040

8060

8080

01-2

01

1

02-2

01

1

03-2

01

1

04-2

01

1

05-2

01

1

06-2

011

07-2

01

1

08-2

01

1

09-2

01

1

10-2

01

1

11-2

01

1

12-2

01

1

01-2

01

2

02-2

01

2

03-2

01

2

04-2

01

2

05-2

01

2

06-2

01

2

07-2

01

2

08-2

01

2

09-2

01

2

10-2

01

2

11-2

01

2

12-2

01

2

ກຍ/ຈຖາ (ກ) ກຍ/ຍາຈ (ກ)

ປຍ 11: ບຈຉາຖກຎໃ ຌຂບຄະຌາາຌຖະກຈ

-2.6

26

,52

-2.7

61

,13

-4.8

04

,03

-4.9

21

,63

-5.5

93

,28

1.2

69

,18

1.1

43

,18

3.5

62

,00

3.7

08

,80

4.5

64

,65

-1.357,43 -1.587,95-1.242,04 -1.212,83 -1.028,63

-8000

-6000

-4000

-2000

0

2000

4000

6000

2007/08 2008/09 2009/10 2010/11 2011/12(P)

ຂາຈຈຌຄຍຎະຓາຌຍ ໃ ຖທຓຌຆໃ ທງຽນບຖ ໄາ ຈຌຈໃ ຄຈ ໄທງນໃ ຄຌຑາງເຌຈຌຈໃ ຄຈ ໄທງນໃ ຄຌຉໃ າຄຎະຽຈ(ຘຈ) ຽຄຌຆໃ ທງຽນບຖ ໄາຈໃ ຌຈໃ ຄຽຄຌຘຈຖທຓ

ປຍ 10: ກາຌຈໃ ຌຈໃ ຄຄຍຎະຓາຌ

ນໃ ຄຂ ໄຓຌ: ກຓຌະງຍາງກຌຽຄຌ, ກະຆທຄກາຌຽຄຌ

ນໃ ຄຂ ໄຓຌ: ກຓຌະງຍາງຽຄຌຉາ, ະຌາາຌນໃ ຄ ຘຎຎ ຖາທ

ຉ ໄກຍ

ກຍ ກຍ


Bank of the Lao PDR

-2,6

26

.52

-2,7

61

.13

-4,8

04

.03

-4,9

21

.63

-5,5

93

.28

1,2

69

.18

1,1

43

.18

3,5

62

.00

3,7

08

.80

4,5

64

.65

-1,357.34-1,587.95 -1,242.04 -1,212.83 -1,028.63

-8000

-6000

-4000

-2000

0

2000

4000

6000

2007/08 2008/09 2009/10 2010/11 2011/12(P)

Overall Cash balance Excluding Grants Domestic Financing

Foreign Financing (Net) Grants

Overall Cash Balance


III. Monetary Sector 1. Exchange Rate Policy

The BOL continued to undertake a managed floating exchange regime as the main

instrument in order to maintain the national monetary stability by keeping a close watch

on exchange movement in both domestic and international as a basis to set a daily

reference rate of Kip/USD; continued to maintain the margin of buying and selling rates.

In addition, the BOL continued to promote an active inter-bank market operation, take

more flexible measure on foreign exchange market by allowing the public to purchase

foreign exchange without any documentary requirement and unlimited amount as well as

encourage the commercial banks and private exchange rate bureaus to expand the

operation country-wide.

The BOL continued to intervene in the foreign exchange market when necessary as

the last resort lender, with an aim to provide sufficient foreign exchange to meet the

demand of society and diminish an illegal foreign exchange trading gradually through the

implementation of the policy above. In 2012, the BOL could maintain the stability of Kip.

For instance, Kip appreciated by 0.26 percent against USD and appreciated 2.26 percent

against Thai Baht. Official gross reserve was sufficient to cover 5.22 months of imports

(Table 12).

245

250

255

260

265

270

7960

7980

8000

8020

8040

8060

8080

01

/20

11

02

/2011

03

/20

11

04

/20

11

05

/20

11

06

/20

11

07

/20

11

08

/2011

09

/20

11

10

/20

11

11

/20

11

12

/20

11

01

/20

12

02

/2012

03

/20

12

04

/20

12

05

/20

12

06

/20

12

07

/20

12

08

/2012

09

/20

12

10

/20

12

11

/20

12

12

/20

12

Kip/USD (CB) Kip/THB (CB)

Kip Kip Figure 11: Exchange Rates


Source: Monetary Policy Department, Bank of the Lao PDR

Billion Kip Figure 10: Fiscal Financing


2. ຌະງຍາງຽຄຌຉາ ນຖ ແຈ ໄຈຉ ໄຄຎະຉຍຈຌະງຍາງຽຄຌຉາຍຍຎະຘຓຎະຘາຌ ຌເຘໃ ຽຑໃ ບປກຘາຘະຊຌຖະຑາຍຽຄຌຉາ

ນໃ ຄຆາຈເນ ໄໝ ໄຌໃ ຄ ຖະ ຎະກບຍຘໃ ທຌຆກງ ໄປຄກາຌຑຈະຌາຽຘຈຊະກຈ-ຘຄຓ ເນ ໄຍຌຖຉາຓາຈໝາງໃ ກ າຌຈແທ ໄ, ຈ ໄທງກາຌຌ າເຆ ໄຽໃ ບຄຓຽຄຌຉາາຄບ ໄບຓ: ປກຘາບຈຉາຈບກຽຍ ໄງຽຄຌກ ໄແຖງະຘ ໄຌຍ ໃ ຽກຌ 7 ທຌ ເຌຖະຈຍ 5,00%; ປກຘາບຈຉາຽຄຌປຐາກຍຄຍແທ ໄ: 5,00% ຘ າຖຍຽຄຌຐາກຽຎຌຽຄຌກຍ ຖະ 10,00% ຘ າ ຖຍຽຄຌຉາຉໃ າຄຎະຽຈ ຘຍຉ ໃ ຆກງ ໄເນ ໄຉະນາຈຽຎຈຽໃ ບຌແນທດໃ າຄຂຄປຄຈ ໄທງກາຌຘຍຉ ໃ ບບກຑຌະຍຈ ນຖ ຉາຓຏຌ ໃແຈ ໄກ າຌຈແທ ໄ, ຆກງ ໄຉະນາຈຖະນທໃ າຄະຌາາຌເນ ໄຓກາຌຽໃ ບຌແນທນາງຂ ໄຌ ຽຑໃ ບຎະຉຍຈຉາຓຑາ ຖະຍຈຍາຈຏ ໄຈຈຘຓນໃ ຄຘຈ ໄາງ ຖະ ຈ າຽຌຌກາຌຈຈຘຓຘະຑາຍໃ ບຄຈ ໄາຌນໃ ຄຌເນ ໄຖະຍຍະຌາາຌດໃ າຄ ຽຎຌຎກກະຉຈ ໄທງກາຌຆ ໄ-ຂາງຐາກ ຖະ ຆ ໄ-ຂາງຂາຈຉຑຌະຍຈ. 3. ຎະຖຓາຌຽຄຌ

ຎະຖຓາຌຽຄຌ (M2) ປບຈ ໄາງຎ 2012 ຓງບຈຽນບ 35.704,94 ຉ ໄກຍ, ຍເຘໃ ໄາງຎ 2011 ຽຑໃ ຓຂ ໄຌ 31,05% ຘາຽນຈຽຌໃ ບຄາກກາຌຎໃ ບງຘຌຽຆໃ ບເນ ໄຑາກຘໃ ທຌຽຘຈຊະກຈ ຽຑໃ ຓຂ ໄຌ 26,64%, ເຌຌ ໄຌ, ຘຌຽຆໃ ບເນ ໄຑາກຘໃ ທຌຽບກະຆຌ ກທຓຽບາ 78,41% ຆໃ ຄຽຑໃ ຓຂ ໄຌ 35,12% ຖະ ຘຌຽຆໃ ບເນ ໄຖຈທຘານະກຈກທຓ 21,59% ຂບຄຘຌຽຆໃ ບຄໝຈ ນ ຽຑໃ ຓຂ ໄຌ 3,13% ຽຓໃ ບຍເຘໃ ໄາງຎ 2011 (ປຍ 12).

ຄຎະກບຍຂບຄຎະຖຓາຌຽຄຌ M2 ຓ: ຍ ຖຓາຈຽຄຌເຌຂບຈ ຖະບຌ ຓ 6.019,73 ຉ ໄກຍ ຽຑໃ ຓຂ ໄຌ 24,27% ກທຓຽບາ 16,86% ຂບຄ M2, ຽຄຌຐາກຽຎຌຘະກຌຽຄຌກຍຓ 14.515,51 ຉ ໄກຍ ຽຑໃ ຓຂ ໄຌ 38,88% ກທຓຽບາ 40,65% ຂບຄ M2, ຽຄຌຐາກຽຎຌຘະກຌຽຄຌຉາຉໃ າຄຎະຽຈຍຽໃ າກຍ ຓ 15.168,70 ຉ ໄກຍ ຽຑໃ ຓ ຂ ໄຌ 26,94% ກທຓຽບາ 42,48% ຂບຄ M2 (ປຍ 13).

11.559,37

15.178,09

21.168,82

27.246,07

35.704,94

0

5000

10000

15000

20000

25000

30000

35000

40000

2008 2009 2010 2011 2012

ຎະຖຓາຌ (M2)

ປຍ 12: ຎະຖຓາຌຽຄຌ (M2)


ຉ ໄກຍ


Bank of the Lao PDR


2. Monetary Policy

The BOL continued to perform a combined monetary policy framework with an

objective to maintain national monetary stability and to contribute socio-economic

development. In order to achieve such targets, the BOL has been using indirect monetary

tools such as: BOL short- term lending rate with maturity of less than 7 days at 5 percent,

reserve requirement ratio at 5 percent for Kip and 10 percent for foreign currency;

continued to actively promote the open market operations (OMO) by continuing to issue

the BOL bills as planned; continued to promote an active inter-bank market operation and

performed the role as the last resort lender and frequently conducted Repo and outright

operations for banking system for the purpose of liquidity.

3. Money Supply (M2)

As of end of 2012, money supply (M2) was recorded at Kip 35,704.94 billion, up by

31.05 percent compared to the same period of last year, driven by claims on economic

sector, which was soared by 26.64 percent. Of which, claims on private sector represented

78.41 percent, rose by 35.12 percent while claims on state-owned enterprises covered to

21.59 percent of the total credit, up by 3.13 percent in comparison with previous year

(Figure 12).

The composite of M2 consisted of currency in circulation, which was amounted to

Kip 6,019.73 billion, up by 24.27 percent or equivalent to 16.86 percent of M2, Kip

deposit amounted to Kip 14,515.51 billion, rose by 38.88 percent or equivalent to 40.65

percent of M2, foreign currency deposit equivalent to Kip was amounted to Kip

15,168.70 billion, soared by 26.94 percent or equivalent to 42.48 percent of M2

(Figure 13).

11,559.37

15,178.09

21,168.82

27,246.07

35,704.94

0

5000

10000

15000

20000

25000

30000

35000

40000

2008 2009 2010 2011 2012

Broad Money M2

Billion Kip Figure 12: Broad Money (M2)



4. ຊາຌຽຄຌຉາ

ຊາຌຽຄຌຉາ ເຌ ໄາງຎ 2012 ຓງບຈຽນບ 14.132,56 ຉ ໄກຍ ຽຑໃ ຓຂ ໄຌ 27,17% ຍເຘໃ ໄາງຎ 2011. ຄຎະກບຍຂບຄຊາຌຽຄຌ ຖທຓຓຽຄຌຘຈດໃ ຂບຈ ຖະບຌ ຖະ ຽຄຌຐາກຂບຄຘະຊາຍຌກາຌຽຄຌ າຌທຌ 7.168,83 ຉ ໄກຍ ຖະ 6.963,73 ຉ ໄກຍ ຆໃ ຄຽຑໃ ຓຂ ໄຌ 26,63% ຖະ 27,74% ຉາຓຖ າຈຍ (ປຍ 14).

5. ຽຄຌຐາກຂບຄະຌາາຌຖະກຈ ເຌ ໄາງຎ 2012 ງບຈຽຄຌຐາກໃ ທຖະຍຍະຌາາຌຖະກຈ (ຍ ໃ ຖທຓຽຄຌຐາກຂບຄບຄກາຌຈຉ ໄຄຘາກຌ

ບໃ ຌ) ຓງບຈຽນບ 29.684,21 ຉ ໄກຍ ຽຑໃ ຓຂ ໄຌ 32,57% ຽຓໃ ບຍເຘໃ ໄາງຎ 2011 ຖະ ກທຓຽບາ 40,81%

ຂບຄ GDP, ເຌຌ ໄຌ ຽຄຌຐາກຽຎຌຽຄຌກຍ ກທຓຽບາ 48,90% ຂບຄງບຈຽຄຌຐາກໃ ທຖະຍຍະຌາາຌຖະກຈ

ຽຑໃ ຓຂ ໄຌ 39,01%; ຽຄຌຐາກຘະກຌຽຄຌຉາຉໃ າຄຎະຽຈຍຽໃ າກຍ ກທຓຽບາ 51,10% ຂບຄງບຈຽຄຌຐາກໃ ທ ຖະຍຍະຌາາຌຖະກຈ ຖະ ຽຑໃ ຓຂ ໄຌ 26,94% ຽຓໃ ບຍເຘໃ ໄາງຎ 2011 (ປຍ 15).

49,64% 53,93% 55,97% 56,14% 57,52%

50,36% 46,07% 44,03% 43,86% 42,48%

0

20

40

60

80

100

120

2008 2009 2010 2011 2012

ຽຄຌຉາຉໃ າຄຎະຽຈ ຽຄຌກຍ

ປຍ 13: ຄຎະກບຍຂບຄ M2 ງກຉາຓຘະກຌຽຄຌ

20,19%

34,76%

48,56%

16,24%

27,17%

0

10

20

30

40

50

60

70

80

90

2008 2009 2010 2011 2012

ບຈຉາກາຌຂະນງາງຉທຂບຄ ຊາຌຽຄຌຉາ ບຈຉາກາຌຂະນງາງຉທຂບຄ ຽຄຌຘຈດໃ ຂບຈ ຖະບຌ ບຈຉາກາຌຂະນງາງຉທຂບຄ ຽຄຌຐາກ / ຖະກຈດໃ ນຖ

ປຍ 14: ກາຌຂະນງາງຉທຂບຄຊາຌຽຄຌຉາ



ຽຎຽຆຌ ຉ ໃ M2 (%)

ຽຎຽຆຌ (%)


Bank of the Lao PDR


4. Monetary base condition

As end of 2012, monetary base was recorded at Kip 14,132.56 billion, rose by 27.17

percent in comparison with the end of 2011. Meanwhile, the composites of the total

money base consisted of cash in circulation and deposits of financial institutions were

amounted to Kip 7,168.83 billion and Kip 6,963.73 billion, and rose by 26.63 percent and

27.74 percent, respectively (Figure 14).

5. Deposits

At the end of 2012, total deposits of commercial banks (excluding deposits from

other international organizations) were amounted to Kip 29,684.21 billion, rose by 32.57

percent in comparison with the end of year 2011 and represented 40.81 percent of GDP,

Of which, Kip deposits covered to 48.90 percent of the total deposits, up by 39.01

percent; foreign currency deposits covered to 51.10 percent of the total deposits of

commercial banks, rose by 26.94 percent compared to the end of 2011 (Figure 15).

49.64% 53.93% 55.97% 56.14% 57.52%

50.36% 46.07% 44.03% 43.86% 42.48%

0

20

40

60

80

100

120

2008 2009 2010 2011 2012

Foreign Currency Kip

Figure 13: M2by Currency Components

Figure 12: Broad Money (M2)

Percent of M2

20.19%

34.76%

48.56%

16.24%

27.17%

0

10

20

30

40

50

60

70

80

90

2008 2009 2010 2011 2012

MB Growth

Growth of Currency in Circulation

Growth of Deposits at BOL

Percent Figure 14: Monetary base




ຍຈລາງຄາຌຽສຈຊະກຈ ຎະ າຎ 2012

6. ສຌຽຆ ຬຂຬຄະຌາາຌລະກຈ

ເຌາງຎ 2012 ສຌຽຆ ຬເຫກ ຑາກສ ວຌຽສຈຊະກຈຂຬຄ ວລະຍຍະຌາາຌລະກຈມງຬຈຽຫ ຬ

25.566,00 ຉ ກຍ ຽຑ ມຂຌ 33,80% ຍເສ າງຎ 2011 ຆ ຄກວມ 35,15% ຂຬຄ GDP. ເຌຌ ຌ, ສຌຽຆ ຬເຫ ຂະໜຄກ ສາຄ ກວມ 18,00% ຂຬຄສຌຽຆ ຬ ຄໝຈ ຽຑ ມຂຌຽຊຄ 91,15% ຽມ ຬຍເສ າງຎຏ າຌມາ, ເຌຂະ ຌະ ຂະໜຄກາຌາ ຆ ຄຽຎ ຌຂະໜຄ ກວມຬ ຈຉາສ ວຌ ສຄ 24,00% ຂຬຄສຌຽຆ ຬ ຄໝຈມຬ ຈຉາກາຌ ຽຑ ມ ຂຌ 50,76% ຽມ ຬຍເສ າງຎ 2011 (ຉາຉະລາຄ 11). ຑຬມຈວກ ຌຌ ຌ, ຬ ຈຉາສ ວຌໜຍ ຽກຈຈຬກຬຬກຏຌມ ຌຢ ເຌລະຈ ຍຉ າ : 1,50% ຂຬຄງຬຈສຌຽຆ ຬ ຄໝຈ (ອຍ 16).

7. ຬ ຈຉາຈຬກຽຍງຽຄຌຐາກ ລະ ຽຄຌກ

ເຌາງຎ 2012 ຬ ຈຉາຈຬກຽຍງຽຄຌຐາກ-ຽຄຌກສະຽລ ງ ຂຬຄ ວລະຍຍະຌາາຌລະກຈ ມກາຌຎ ຌຎຄຉາມກຌແກຉະຫາຈ ຽມ ຬຍກ ຍາງຎ 2011 : ຬ ຈຉາຈຬກຽຍງສະກຌຽຄຌກຍຎະຽຑຈຽຄຌຐາກມກ າຌຈມ ຌຫຈລຄ ເຌຌ ຌ ຐາກມກ າຌຈ 3 ຽຈ ຬຌ ຫຈລຄ າກ 5,42% ມາຽຎ ຌ 5,17%, ຐາກມກ າຌຈ 6 ຽຈ ຬຌ ຫຈ

ລຄ າກ 7,15% ມາຽຎ ຌ 6,83% ລະ ຐາກມກ າຌຈ 12 ຽຈ ຬຌ ຫຈລຄ າກ 8,76% ມາຽຎ ຌ 8,48%. ສ າລ ຍ

ຬ ຈຉາຈຬກຽຍງຽຄຌຐາກສະກຌຽຄຌຉາຉ າຄຎະຽຈຈງສະຽຑາະສະກຌຽຄຌຍາຈ ກ ມກາຌຎ ຍຫຈລຄ ຽຎ ຌຉຌມ ຌ

ຐາກຎະ າ 3 ຽຈ ຬຌ ລະ 6 ຽຈ ຬຌ າກ 2,34% ມາຽຎ ຌ 2,03% ລະ 2,73% ມາຽຎ ຌ 2,68% ຉາມລ າຈ ຍ.

34,61%

41,18%

46,37% 46,63%48,90%

5,63%

56,84%53,63% 53,37%

51,10%

14,45%

32,57%30,03% 28,95%

32,57%

0

10

20

30

40

50

60

2008 2009 2010 2011 2012

ຽຄຌຐາກ (ກຍ) ຽຄຌຐາກ (ຄຉຉ) ຽຄຌຐາກ (ລວມຽຎ ຌກຍ)

ອຍ 15: ຽຄຌຐາກຂຬຄະຌາາຌລະກຈ

3.6

04

,77

5.0

99

,50

8.0

51

,82

10

.441

,81

14

.515

,51

6.4

68

,54

6.9

92

,10

9.3

13

,06

11

.949

,39

15

.168

,70

0

5000

10000

15000

20000

25000

30000

35000

2008 2009 2010 2011 2012

ຽຄຌຐາກ (ກຍ) ຽຄຌຐາກ (ຄຉຉ) ຽຄຌຐາກ (ລວມຽຎ ຌກຍ)

ອຍ 16: ສຌຽຆ ຬຂຬຄະຌາາຌລະກຈ

71,95% 71,09%

49,13%45,09%

33,80%

11,17%

18,57%23,30%

29,52%35,15%

0

10

20

30

40

50

60

70

80

2008 2009 2010 2011 2012

ຬ ຈຉາສ ວຌກາຌຂະຫງາງຂຬຄສຌຽຆ ຬ ຬ ຈຉາສ ວຌສຌຽຆ ຬຉ (ຈຑ)

ຫ ຄຂ ມຌ: ກມຌະງຍາງຽຄຌຉາ, ະຌາາຌຫ ຄ ສຎຎ ລາວ

ຫ ຄຂ ມຌ: ກມຌະງຍາງຽຄຌຉາ, ະຌາາຌຫ ຄ ສຎຎ ລາວ

ຉ ກຍ ຽຎຽຆ ຌ (% ກາຌຎ ຌຎຄ)

ຽຎຽຆ ຌ (%)

ະຌາາຌຫ ຄ ສຎຎ ລາວ

Bank of the Lao PDR

34.61%

41.18%

46.37% 46.63%48.90%

5.63%

56.84%53.63% 53.37%

51.10%

14.45%

32.57%30.03% 28.95%

32.57%

0

10

20

30

40

50

60

2008 2009 2010 2011 2012

Deposits in LAK

Deposits in Forex

Total Deposits Equivalent to LAK


6. Credit

At the end of 2012, the total credit provided by commercial banks to economy were

amounted to Kip 25,566.00 billion; rose by 33.80 percent compared to 2011 and

represented 35.15 percent of GDP. Of which, credit to construction covered 18.00 percent

of total credit and rose by 91.15 percent compared to 2011; while commercial sector,

which was covered high ratio of 24.00 percent of total credit slightly increased by 50.76

percent compared to the previous year (Table 11). Meanwhile, the ratio of non-

performing loan (NPL) remained a passive control at 1.50 percent of total credit

(Figure 16).

7. Interest rates on deposits and loans

In 2012, the interest rates on deposits and loans of commercial banks were adjusted

in line with market conditions. Comparing to 2011, interest rates on term deposits of Kip

were dropped. Of which, 3-monthdeposits dropped from 5.42 percent to 5.17 percent, 6-

month deposits dropped from 7.15 percent to 6.83 percent and 12- month deposits

71,95% 71,09%

49,13%45,09%

33,80%

13,63%18,57%

23,30%

29,52%35,15%

0

10

20

30

40

50

60

70

80

2008 2009 2010 2011 2012

Credits Growth Credits in percent of GDP

3,6

04

.77

5,0

99

.50

8,0

51

.82

10,4

41.8

1

14,5

15.5

1

6,4

68

.54

6,9

92

.10

9,3

13

.06

11,9

49.3

9

15,1

68.7

0

0

5000

10000

15000

20000

25000

30000

35000

2008 2009 2010 2011 2012

Deposits in LAK

Deposits in Forex

Total Deposits Equivalent to LAK

Billion Percent

Figure 16: Commercial Banks’ Credits


Percent



Figure 15: Commercial bank’s deposits


ບຈຉາຈບກຽຍ ໄງຽຄຌກ ໄຘະຽຖໃ ງ ຽຓໃ ບຍເຘໃ ໄາງຎຏໃ າຌຓາ ຽນຌທໃ າ ບຈຉາຈບກຽຍ ໄງຽຄຌກ ໄ ຘະກຌຽຄຌກຍ

ຽຑໃ ຓຂ ໄຌ ຽຆໃ ຌ: ຖກ ໄາຎະຽຑຈ A ຽຑໃ ຓຂ ໄຌ າກ 12,24% ຓາຽຎຌ 13,50%, ເຌະຌະຖກ ໄາຎະຽຑຈ B ຖະ

C ນຈຖຄາກ 13,10% ຓາຽຎຌ 12,87%; ຘະກຌຽຄຌຍາຈ ຎະຽຑຈຖກ ໄາ B ຎຍນຈຖຄ າກ 9.60% ຓາຽຎຌ

9,02% (ຉາຉະຖາຄ 10).

8. ກາຌ ໄຓບຄຽຄຌຉາຉໃ າຄຎະຽຈ ຖະ ກາຌຘໃ ຄຽຘຓກາຌຌ າເຆ ໄຽຄຌກຍ

ຽຑໃ ບຘຍຉ ໃ ຎະຉຍຈຍຌຈາຓາຈຉະກາຌ ໄຓບຄຽຄຌຉາຉໃ າຄຎະຽຈ ຖະ ຘໃ ຄຽຘຓກາຌຌ າເຆ ໄຽຄຌກຍດໃ າຄຉ ໃຽຌໃ ບຄຌເຘໃ ຎະກບຍຘໃ ທຌເຌກາຌປກຘາຘະຊຌຖະຑາຍຽຄຌຉານໃ ຄຆາຈ ເນ ໄຓທາຓໝ ໄຌໃ ຄຽປຈເນ ໄຘຄຓຓທາຓຽຆໃ ບໝ ໄຌຉ ໃ ໃ າຽຄຌກຍຌຍຓ ໄຌຍຽຑໃ ຓຂ ໄຌ ນຖ ແຈ ໄຘຓເຘໃ ຎຍຎຄຍຌຈາຖະຍຍກາຌໃ ຉຈຑຌກຍກາຌບຌ ຽຄຌ ຖະ ກາຌຆ ໄ-ຂາງຽຄຌຉາຉໃ າຄຎະຽຈ ຂບຄປ ໄາຌຖກຎໃ ຌຽຄຌຉາ. ແຈ ໄຘຍຉ ໃ ຈຉ ໄຄຎະຉຍຈກາຌ ໄຓບຄຽຄຌ ຉາຉໃ າຄຎະຽຈດໃ າຄຖທຓຘຌ ຖະ ນຌຽຂ ໄາຘໃ ຖະຍຍກາຌຽໃ ບຖະກ ໄາທ ເຌຎ 2012 ນຖ ແຈ ໄບະຌງາຈເນ ໄະຌາ າຌຖະກຈຌ າຽຄຌຉາຉໃ າຄຎະຽຈບບກຌບກ ຘຎຎ ຖາທ າຌທຌ 1,34 ຉ ໄຈຖາຘະນະຖຈຍຽໃ າ ຖະ ຌ າຽຄຌຉາຉໃ າຄຎະຽຈຽຂ ໄາ ຘຎຎ ຖາທ າຌທຌ 0,95 ຖ ໄາຌຈຖາຘະນະຖຈ; ບະຌງາຈຘ ໄາຄຉ ໄຄຍ ຖຘຈຌ າຽຂ ໄາ-ຘໃ ຄບບກ

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ປຍ 17: ບຈຉາຈບກຽຍ ໄງຘະຽຖໃ ງຽຄຌຐາກກ າຌຈ 12 ຽຈບຌ

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ຈຖາຘະນະຖຈ ຍາຈ ກຍ

ປຍ 18: ບຈຉາຈບກຽຍ ໄງຘະຽຖໃ ງຽຄຌກ ໄກ າຌຈ 12 ຽຈບຌ



ຽຎຽຆຌ (% ຉ ໃ ຎ)

ຽຎຽຆຌ (% ຉ ໃ ຎ)

Bank of the Lao PDR


Bank of the Lao PDR


dropped from 8.76 percent to 8.48 percent. In addition, interest rates on term-deposit of

foreign currencies were also dropped. Particularly, Thai baht deposits for 3- month and 6-

month term deposits were declined from 2.34 percent to 2.03 percent and 2.73 percent to

2.68 percent, respectively (Figure 17).

An average12-month interest rate of loan in Kip classified by customer type A rose

from 12.24 percent to 13.50 percent, customer type B and C dropped from 13.10 percent

to 12.87 percent, interest rate of Baht for customer type B also dropped from 9.60 percent

to 9.02 percent (Table 10).

8. Foreign currency management and the campaign to promote the use of Kip.

In order to implement the measures of foreign currency management and the

campaign to promote the use of Kip continually, with on aim to contribute to the

monetary stability and to increase public confidence in the value of Kip, the BOL has

attempted to improve the existing regulation associated with money transfer and foreign

currency trading of exchange bureaus. In addition, the BOL actively continued to

implement the foreign currency management and try to suppress illegal money changers

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USD THB KIP

Percent of GDP

Figure 17: Average 12 Months - Deposit Rates


Percent of GDP

Figure 18: Average 12 Months - Lending Rates





ທຈຊຓໃ າ າຌທຌ 1 ຍ ຖຘຈ ຖະ ບະຌງາຈຌ າຽຂ ໄາ າໃ ຄ າຌທຌ 6 ກຖກາຓ ຓຌໃ າ 0,29 ຖ ໄາຌຈຖາຘະ ນະຖຈ; ແຈ ໄດໄຄດຌກາຌຌ າຽຂ ໄາຌ ຂບຄຍ ຖຘຈ ຖຄຌຉໃ າຄຎະຽຈ າຌທຌ 137 ຍ ຖຘຈ ຽຎຌຽຄຌ າຌທຌ 1.07

ຉ ໄຈຖາຘະນະຖຈຍຽໃ າ; ແຈ ໄຆກງ ໄ ຖະ ນຌຽບາກາຌຖກຎໃ ຌຆະຆາງຽຂ ໄາຘໃ ຖະຍຍກາຌຽຑໃ ຓຂ ໄຌ ເຌຎ 2012 ຘາຓາຈຂະນງາງປ ໄາຌຖກຎໃ ຌແຈ ໄ າຌທຌ 25 ປ ໄາຌ ຎະຍຌຓຄໝຈ າຌທຌ 129 ປ ໄາຌ ຖະ ຘາຂາ 23 ນໃ ຄ ເຌຂບຍຽຂຈໃ ທຎະຽຈ.

ຄໃ ກຌຌ ໄຌ ນຖ ແຈ ໄຘຍຉ ໃ ຈຉ ໄຄຎະຉຍຈທກຄາຌຘໃ ຄຽຘຓກາຌຌ າເຆ ໄຽຄຌກຍຈ ໄທງນາງປຍກາຌ, ຈງ ແຈ ໄຽຑໃ ຓະທກາຌຽຏງຏໃ ຖະຍຍກາຌ ໄຓບຄຽຄຌຉາຉໃ າຄຎະຽຈ ຖະ ຘໃ ຄຽຘຓກາຌຌ າເຆ ໄຽຄຌກຍ ເນ ໄຍຌຈາກະ ຆທຄບ ໄບຓຂ ໄາຄຌະບຌນທຄ ຖະ ບຄກາຌຈຉ ໄຄຓະນາຆຌ າຌທຌ 7 ນໃ ຄ; ຘຓຍກຍ 3 ບຄກາຌຈຉ ໄຄຓະ ນາຆຌ ນຖ ຽຑໃ ບຖຄຘະຌາຎກຈຘ າຌກ ຖະ ຈກຈະກ າຘໃ ຄຽຘຓກາຌຌ າເຆ ໄຽຄຌກຍ ເນ ໄກໃ ທະງາແຖຑາກຽບກະຆຌ າຌທຌ 4 ນໃ ຄ ຖະ ຘຍຉ ໃ ຘະຌາຏໃ າຌຘໃ ຉໃ າຄໂຈ ໄທງນາງປຍຍຍ. ຌບກາກຌ ໄ ແຈ ໄຖຄກທຈກາຉຈຉາຓກາຌຉຈຎະກາຈຖາາຘຌ ໄາ ຖະ ໃ າຍ ຖກາຌຉາຓຘະຊາຌໃ ຉໃ າຄໂຽຎຌຉ ໄຌ: ຘຌກາຌ ໄາ, ຉະນາຈ, ນໄາຄປ ໄາຌ, ປຄປຓ, ຍ ຖຘຈໃ ບຄໃ ທ ຖະ ເຌຄາຌຍຌຎະຽຑຌຎະ າຆາຈ. ຄໃ ກຌຌ ໄແຈ ໄງ ໄບຄງ ຑາກຘໃ ທຌໃ ເນ ໄ ກາຌປໃ ທຓຓ ຖະ ຍຌຈານທໜໃ ທງຖະກຈຈຽຈໃ ຌເຌກາຌຘໃ ຄຽຘຓກາຌຌ າເຆ ໄຽຄຌກຍ າຌທຌ 4 ຉະນາຈ ຖະ 14 ປ ໄາຌ, ຑ ໄບຓຄຎະຉຍຈຓາຈຉະກາຌຉ ໃ ຏ ໄຖະຽຓຈເຌກາຌຉຈຖາາຘຌ ໄາ ຖະ ໃ າຍ ຖກາຌໃ ຽຎຌຽຄຌຉາຉໃ າຄ ຎະຽຈຈ ໄທງກາຌຘກຘາບຍປຓຉ ໃ ຏ ໄກະ າຏຈຈ ໄທງທາຓປ ໄຽໃ າຍ ໃ ຽຊຄກາຌ ຖະ ໄຄຽຉບຌຽຎຌຖາງຖກບກຘບຌ ຉ ໃ ກຍຑາກຘໃ ທຌໃ ຘຍຉ ໃ ກະ າຏຈ າຌທຌ 67 ຑາກຘໃ ທຌ. ຌບກາກຌ ໄ ແຈ ໄຽຎຈກທ ໄາຄ ຖະ ຆກງ ໄຘໃ ຄຽຘຓກາຌຆ າ ຖະຏໃ າຌຖະຍຍະຌາາຌເນ ໄນາງຂ ໄຌ ຽຎຌຉ ໄຌ: ໃ າແຒຒໄາ, ຌ ໄາຎະຎາ ຖະ ກາຌຽຍກໃ າງຽຄຌຽຈບຌຂບຄຑາກຖຈຖະ ຽບກະຆຌແຈ ໄຄໝຈ 652 ນໃ ຄ. 9. ກາຌ ໄຓບຄະຌາາຌຖະກຈ.

ນຖ ແຈ ໄຽບາເເຘໃ ເຌກາຌຈຉ ໄຄຎະຉຍຈທກຄາຌເຌກາຌ ໄຓບຄ ຖະ ກທຈກາກາຌຽໃ ບຌແນທຖະກຈ ຂບຄຍຌຈາະຌາາຌຖະກຈ ຽຑໃ ບປຍຎະກຌເນ ໄຓທາຓໝ ໄຌຄ ຖະ ຽຂ ໄຓຂຄ.

ຓາປບຈຎ 2012 ຓະຌາາຌຖະກຈ ຄໝຈ 31 ນໃ ຄ, ຎະກບຍຓ 83 ຘາຂາເຌຂບຍຽຂຈໃ ທຎະຽຈ,

ຓ 301 ໜໃ ທງຍ ຖກາຌ, 35 ໜໃ ທງຖກຎໃ ຌ ຖະ ຉ ໄ ATM 565 ຽໃ ບຄໃ ເນ ໄຍ ຖກາຌ. ຈ ໄາຌທກຄາຌຌຉກ າຓໃ ຌແຈ ໄຘຓເຘໃ ຎຍຎຄຌຉກ າຉໃ າຄ ໃ ເຆ ໄເຌກາຌ ໄຓບຄຽຑໃ ບເນ ໄຘບຈໃ ບຄກຍຘະຑາຍກາຌຂະນງາງຉທຂບຄະຌາາຌ

ຖະກຈ ຖະ ທາຓປກປ ໄບຄຉ ໄບຄກາຌເຌກາຌ ໄຓບຄແຖງະເໝໃ . ຉຈຉາຓ, ກທຈກາດໃ າຄຽຂ ໄຓຄທຈ ຖະ ຓຈຘຓຈງຓກາຌຎະຘາຌຘຓຍຖະນທໃ າຄຘາຂາ ນຖ ຖະ ຘ າຌກຄາຌເນງໃ . ຆກງ ໄເນ ໄະຌາາຌຖະກຈຈ າຽຌຌກາຌກທຈຘບຍຑາງຌບກ ຖະ ກາຌຑຓຽຏງຏໃ ຊາຌະກາຌຽຄຌ ຎະ າແຉຓາຈ ຖະ ຎະ າຎ ຽຑໃ ບຘ ໄາຄ ທາຓຎໃ ຄເຘຂບຄຖະຍຍະຌາາຌ.

ປບຈ ໄາງຽຈບຌຌທາ ຎ 2012, ໃ ທຖະຍຍະຌາາຌຖະກຈ ຓຆຍຘຌຄໝຈ 50.839,80 ຉ ໄກຍຽຑໃ ຓຂ ໄຌ 33,03% ຍເຘໃ ໄາງຎ 2011 ຖະ ໜ ໄຘຌຍ ໃ ຽກຈຈບກບບກຏຌດໃ ເຌຖະຈຍຉ ໃ າ (1-2%) ຘ າຖຍຽຄຌກ ໄໃ ຎໃ ບງເໝໃ ຂບຄະຌາາຌຖະກຈຖຈ.

Bank of the Lao PDR


Bank of the Lao PDR


gradually. In 2012, the BOL authorized commercial banks to bring foreign currencies out

of the country in the amount of approximately USD 1.34 billion and bringing USD 0.95

million into the country. Apart from that, the BOL also allowed to establish one import

and export of precious metal company and allowed to import 6 kg with the amount of

USD 0.29 million; issued a certificate for capital inflows of 137 foreign investment

companies with value of USD 1.07 billion equivalent and also brought an existing illegal

money changers under control by encouraging them to follow from the regulation. In

2012, 25 private exchange bureaus were established. Presently, there were 129 exchange

bureaus and 23 branches throughout the country.

In parallel, the BOL continued to promote the use of Kip by conducting a variety of

techniques, increasingly disseminating the regulation on foreign currency management

and intensified campaign to promote the use of Kip among the line-ministries in

Vientiane Capital and 7 mass organizations plus cooperated with the 3 mass organizations

within the BOL in order to build public awareness and activities to promote the use of

Kip in 4 private colleges and ongoing advertizing works via diverse channels throughout

the country. In addition, the BOL also conducted on-site inspection of price quotations for

goods and service in many places such as: commercial centers, markets, shopping malls,

hotels, travel agency companies and various major traditional feasts. Besides, the BOL

had presented a certificate of congratulation to 4 markets and 14 exchange bureaus for

being a good model in enforcing the regulation. Adversary, The training policy and

measures were also taken against those who violated the rule, especially a shop that

quoted a price tag for foods and services in foreign currency, there were 67 business units

were taken a warning certificate. Furthermore, the BOL also promoted the mode of

payment for electricity, water supply bills and salary payments of private and civil

servants through banking system. By far, there were 652 organizations making payment

via banking system.

9. Commercial Banks Supervision

To ensure a safe and sound financial sector, the BOL conducted off-site supervision

and on-site examination on a regular basis.

At the end of 2012, there were 31 commercial banks with 83 branches across the

country, with 301 service units, 35 exchange bureaus and 565 ATM machines. In light of

regulation, the banking supervision department has attempted to improve the regulation

for banking supervision to be in line with expansion and growth of banking in order to

response to the need of banking supervision tasks at present. Headquarter and branches of

the BOL have worked coordinately in the diligence. In addition, the BOL has encouraged

commercial banks to regularly conduct external audits and publish quarterly and annually

financial statements to create transparency of the banking system.

As the end of December 2012, total assets of banking system were amounted to Kip

50,839.80 billion; rose by 33.03 percent compared to last year and a level of NPL can be

restricted (1-2 percent) for new lending of SOCBs.


10. ກາຌ ໄຓບຄຘະຊາຍຌກາຌຽຄຌ. ເຌຎ 2012 ຘະຊາຍຌກາຌຽຄຌຖະຑາກແຈ ໄຓກາຌຽຉຍເນງໃ ຂະນງາງຉທດໃ າຄທໃ ບຄແທ ເຌຂບຍຽຂຈໃ ທ

ຎະຽຈ ຖະ ຓນາງປຍຍຍຽຆໃ ຄແຈ ໄຓຍຈຍາຈຆກງ ໄຘໃ ຄຽຘຓເນ ໄຎະຆາຆຌ ຘາຓາຈຽຂ ໄານານໃ ຄຌແຈ ໄຘະຈທກຂ ໄຌ ປບຈ ໄາງຎ 2012 ຘະຊາຍຌກາຌຽຄຌຖະຑາກ ຓຄໝຈ 97 ນໃ ຄ, ເຌຌ ໄ ຘະຊາຍຌກາຌຽຄຌຖະຑາກໃ ປຍຽຄຌຐາກ ຖະ ຍ ໃ ປຍຽຄຌຐາກຓ 34 ນໃ ຄ, ຘະນະກບຌຘຌຽຆໃ ບ ຖະ ຽຄຌຐາກຎະດຈຓ 20 ນໃ ຄ, ປຄຆທຈ າ 26 ນໃ ຄ, ຍ ຖຘຈຽຆໃ າຘຌຽຆໃ ບ 8 ນໃ ຄ, ຍ ຖຘຈຉທຌບຌຽຄຌຈໃ ທຌ 5 ນໃ ຄ, ຘະຊາຍຌຽຄຌຐາກແຎຘະຌຖາທ 1

ນໃ ຄ, ກບຄຌຑຈະຌາຽຘຈຊະກຈຽຂຈ 4 ຍໃ ຄກທາຄ ຖະ ຘະນະກບຌບບຓຆຍຓ 2 ນໃ ຄ. ປບຈ ໄາງຎ 2012 ຘະຊາຍຌກາຌຽຄຌຖະຑາກໃ ປຍຽຄຌຐາກ, ໃ ຍ ໃ ປຍຽຄຌຐາກ, ຘະນະກບຌຘຌຽຆໃ ບ ຖະ ຽຄຌຐາກຎະດຈ ໃຘາຓາຈຘໃ ຄຍຈຖາງຄາຌຽຎຌຎກກະຉແຈ ໄຓ 32 ນໃ ຄ.

ຑ ໄບຓຈທກຌຌ ໄຌ, ງຄຘ າຽຖຈກາຌງກ 3 ຂ ໄກ າຌຈທໃ າຈ ໄທງກາຌ ໄຓບຄກາຌຽຄຌຖະຑາກຂ ໄຌຽຎຌຈ າຖຈ ທໃ າຈ ໄທງກາຌ ໄຓບຄຘະຊາຍຌກາຌຽຄຌຖະຑາກ ຽຆໃ ຄແຈ ໄຏໃ າຌກາຌປຍປບຄາກຖຈຊະຍາຌ ເຌທຌ 03 ຉຖາ2012 ຖະ ແຈ ໄຽຏງຏໃ ຈ າຖຈຈໃ ຄກໃ າທ ເນ ໄກໃ ຑະຌກຄາຌ ນຖ (ຘ າຌກຄາຌເນງໃ ຖະ ຘາຂາ) ຍຌຈາກະຆທຄບ ໄບຓຂ ໄາຄ ຖະ ຘະຊາຍຌກາຌຽຄຌໃ ດໃ ເຌຌະບຌນທຄ ຖະ ຉໃ າຄຂທຄ, ຌບກາກຌ ໄຌ ງຄຘ າຽຖຈກາຌບບກຖະຍຍກໃ ທກຍກາຌຊບກຌຈະຍຌ ຖະ ກາຌຌ າເຆ ໄຌຈະຍຌຂບຄຘະຊາຍຌກາຌຽຄຌຘະຍຍຽຖກ 01/ນຖ ຖຄທຌ 23 ຉຖາ 2012, ຖະ ຖະຍຍກາຌ ໄຓບຄຘະຊາຍຌກາຌຽຄຌ າຌທຌໜໃ ຄ. 11. ກາຌ ໄຓບຄຉະນາຈນກຆຍເຌ ຘຎຎ ຖາທ.

ຑາງນຄໃ ຉະນາຈນກຆຍຖາທ (ຉຖຆຖ) ຈ າຽຌຌຖະກຈຓາຽຎຌຽທຖາຘບຄຎ ແຈ ໄປຍທາຓຘຌເາກຌກ ຖຄຌ ຄຑາງເຌ ຖະ ຉໃ າຄຎະຽຈ ຆໃ ຄຽນຌແຈ ໄາກຍຌຆຆ ໄ-ຂາງປ ໄຌຂບຄຌກຖຄຌແຈ ໄ ຽຑໃ ຓຂ ໄຌ າກ 8.187

ຍຌຆເຌຎ 2011 ຓາຽຎຌ 8.910 ຍຌຆເຌຎ 2012 ນ ຽຑໃ ຓຂ ໄຌ 8,83%. ເຌຌ ໄຌ າຌທຌຍຌຆຆ ໄ-ຂາງນກຆຍຂບຄຌກຖຄຌຑາງເຌ ຓຄໝຈ 7.339 ຍຌຆ ນ ກທຓຽບາ 82,37% ຖະ ຍຌຆຆ ໄ-ຂາງນກຆຍຂບຄຌກຖຄຌຉໃ າຄຎະຽຈ ຓຄໝຈ 1.571 ຍຌຆ ນ ຽໃ າກຍ 17,63%, ຓຌໃ າກາຌຆ ໄ-ຂາງຂບຄຌກຖຄຌຉໃ າຄຎະຽຈ ຘະ ຽຖໃ ງກທຓຽບາ 57,23% ຂບຄຓຌໃ າກາຌຆ ໄ-ຂາງປ ໄຌຄໝຈ.

ຎ 2012 ຈຈຆະຌ ຉຖຆຖ ຎຈດໃ ໃ 1.214,77 ຈ ຽຑໃ ຓຂ ໄຌ 315,31 ຈ ນ ຽໃ າກຍ 35,06%, ຓຓຌໃ າກາຌຆ ໄ-ຂາງ 123.79 ຉ ໄກຍ ຖະ ຓ າຌທຌປ ໄຌຆ ໄ-ຂາງຄໝຈ 23,03 ຖ ໄາຌປ ໄຌ ຍເຘໃ ຎຏໃ າຌຓາ(ປຍ 19), ຓຓຌໃ າຉະນາຈຽໃ າກຍ 12,39% ຂບຄ GDP, ຎຈເໃ ຓຏຌຽປຈເນ ໄຓຌໃ າກາຌຆ ໄ-ຂາງເຌຎ 2012 ນຈຖຄ ງ ໄບຌຽນຈຏຌຈໃ ຄຌ ໄ: ປ ໄຌໃ ຆ ໄ-ຂາງເຌ ຉຖຆຖ ງຄຍ ໃ ຌນາກນາງ, ຑ ໄຌຊາຌໃ ຄຖໃ າຄຂບຄ ຉຖຆຖ ງຄຍ ໃ ຌຘຓຍຌຍຊໄທຌຽຑໃ ບ

ປບຄປຍກາຌ ຆ ໄ-ຂາງ າຌທຌນາງ (Block Trading).


Bank of the Lao PDR


10. Microfinance Institutions (MFIs) Supervision

In 2012, MFIs were rapidly expanded country-wide with various forms of financial

institutions. All of these institutions play an important role to provide a better access of

financial service for people. As end of 2012, there were 97 microfinance institutions

registered with the BOL. Of which, there were totally 34 deposit-taking microfinance

(DTMFI) and non-deposit taking MFIs (NDTMFI), 20 credit cooperatives and saving

deposits, 26 pawnshops, 8 financial leasing companies, 5 money transfer company

representatives, 1 postal deposit institution, 1 economic development fund

Boungkhouang four and 2 saving cooperatives. As end of 2012, DTMFI, NDTMFI, there

were only 32 out of 97 institutions could regularly submit the financial report to the BOL.

At the same time, the BOL also completed upgrading 3 provisions on MFIS

supervision into the Decree on MFIS supervision, which was endorsed by the

government, dated 03 October 2012. The BOL has disseminated this Decree to BOL

staffs (Headquarter and branches), line-ministries, microfinance institutions situated in

Vientiane capital and other provinces. Furthermore, MFIs also completed the regulation

on registered capital withdrawal and the use of registered capital for financial institutions,

issued on 01/BOL, dated on 23 October 2012, and completed other associated regulation

regarding financial institution supervision.

11. Stock exchange management

Since the Lao Securities Exchange (LSX) has began its operation for two years, it

has drawn a lot of interest from both domestic and foreign investors, which can be seen in

securities trading accounts, rose from 8,187 accounts in 2011 to 8,910 accounts in 2012

or up by 8.83 percent, Of which, domestic investor accounts represented 7,339 accounts

or to 82.37 percent and total foreign investor accounts represented 1,571 accounts or

17.63 percent. Average value of foreign investor trading represented to 57.23 percent of

total trading volume.

As ofend-2012, LSX index closed at 1,214.77 points, rose by 315.31 points or

equivalent to 35.06 percent, with the value of trading of Kip 123.79 billion, total trading

volume of 23.03 million stocks compared to previous year (Figure 19), value of market

equivalent to 12.39 percent of GDP. The causal factors driven the decline in trading

volume were due to:

In the LSX was limited stock trading as well as the infrastructure of LSX is not yet

to be fully functioning to serve a large amount of trading (Block Trading).

0

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2

ຈຈຆະຌນກຆຍ

ຈຈຆະຌນກຆຍ

0

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ຓຌໃ າ (ຆ ໄາງ) າຌທຌປ ໄຌ (ຂທາ)


IV. ຈຌກາຌຆ າຖະກຍຉໃ າຄຎະຽຈ ຈຌກາຌຆ າຖະກຍຉໃ າຄຎະຽຈຂບຄ ຘຎຎ ຖາທ ເຌຎ 2012 ຽກຌຈຌ 60,89 ຖ ໄາຌຈຖາຘະນະຖຈ ຈຌຍຌ

ຆຆ າຖະຎກກະຉເຌຎ 2012 ຽກຌຈຌ 208,75 ຖ ໄາຌຈຖາຘະນະຖຈ ຘາຽນຈຉ ໄຌຉ ງ ໄບຌ ຈຌຍ ຖກາຌຽກຌຈຌ

236,05 ຖ ໄາຌຈຖາຘະນະຖຈ, ຽຄຌບຌຆໃ ທງຽນບຖ ໄາຽກຌຈຌ 251,98 ຖ ໄາຌຈຖາຘະນະຖຈ, ເຌຂະຌະໃ ຈຌ

ກາຌ ໄາຂາຈຈຌ 198,08 ຖ ໄາຌຈຖາຘະນະຖຈ, ຈຌຖາງແຈ ໄຂາຈຈຌ 81,20 ຖ ໄາຌຈຖາຘະນະຖຈ. ຘໃ ຄຏຌເນ ໄຄຘ າປບຄຽຄຌຉາຉໃ າຄຎະຽຈ ຽຑໃ ຓຂ ໄຌ 8,97% ນ າກຖະຈຍ 678,76 ຖ ໄາຌຈຖາຘະນະຖຈ ເຌຎ 2011 ຓາຽຎຌ

739,65 ຖ ໄາຌຈຖາຘະນະຖຈ ເຌຎ 2012 ຆໃ ຄຘາຓາຈກ ໄຓກາຌຌ າຽຂ ໄາຘຌ ໄາແຈ ໄ 5,22 ຽຈບຌ2 (ປຍ 20).

2ກາຌຌ າຽຂ ໄາຘຌ ໄາຍ ໃ ຖທຓຘຌ ໄາຌ າຽຂ ໄາຂບຄກາຌຖຄຌຉໃ າຄຎະຽຈເຌຎ 2012 ຓ 1.699,06 ຖ ໄາຌຈຖາ ນ ຎະຓາຌ 142 ຖ ໄາຌຈຖາຉ ໃ ຽຈບຌ

90,33

-60,91

29,27

158,14

208,75

13,22

-158,43

-79,35

8,9239,58

430,380

644,430

401,940

639,65 622,09

100,37

-3,720

103,470

-57,08

60,89

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-100

0

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700

2008 2009 2010 2011 2012

ຈຌກາຌຆ າຖະຽຄຌຎກກະຉ ຈຌກາຌຆ າຖະຎກກະຉ (ຍ ໃ ຖທຓຽຄຌບຌຂບຄຑາກຖກຊະຍາຌ )ຈຌຍຌຆຌ ຖະ ກາຌຽຄຌ ຈຌກາຌຆ າຖະຖທຓ

ປຍ 19: ຈຈຆະຌຉະນາຈນກຆຍຖາທ ຖະ ຓຌໃ າປ ໄຌໃ ຓກາຌຆ ໄ-ຂາງ

ປຍ 20: ຈຌກາຌຆ າຖະກຍຉໃ າຄຎະຽຈ

ນໃ ຄຂ ໄຓຌ: ຉະນາຈນກຆຍຖາທ

ນໃ ຄຂ ໄຓຌ: ະຌາາຌນໃ ຄ ຘຎຎ ຖາທ

ຈຈຆະຌປ ໄຌ ຉ ໄກຍ າຌທຌປ ໄຌ

ຖ ໄາຌຈຖາຘະນະຖຈ


Bank of the Lao PDR

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Value kip 100.000

Trading Amount

Amount of Million Securities


IV. Balance of payment

In 2012, Balance of payment of Lao PDR recorded in surplus of USD 60.89 million,

Of which, current account balance was in surplus of USD 208.75 million, the surplus was

driven by surplus in services (net) and transfer (net), which were amounted to USD

236.05 million and USD 251.98 million, while deficit in trade balance and factor income

(net) were amounted to USD 198.08 million and USD 81.20 million, respectively. As a

result international reserve rose by 8.97 percent or from USD 678.76 million in 2011 to

USD 739.65 million in 2012, which could cover 5.22 months1 of imports (Figure 20).

1

Commodity import (Excluding foreign investment) in 2012 was amounted to USD 1,699.06 Million or

equivalent to USD 142 million a month.

13.22

-158.43

-79.35

8.9239.58

430.38

644.43

401.94

639.65 622.09

100.37

-3.72

103.47

-57.08

60.8990.33

-60.91

29.27

158.14

208.75

-200

-100

0

100

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600

700

2008 2009 2010 2011 2012

(Excluding Official Transfers) Capital and Financial Account)

(Overall Balance) (Current Account Balance)

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LSX Index

LSX Index

Figure 19: Lao Stock Index Market and Trading

Volume


Figure 20: Balance of Payments


Million of USD

Securities Index Billion Kip


Source: Lao Securities Exchange


1. ກາຌ ໄາຉໃ າຄຎະຽຈ ເຌຎ 2012, ຈຌກາຌ ໄາຘຈຘຍຉ ໃ ຂາຈຈຌ 198,08 ຖ ໄາຌຈຖາຘະນະຖຈ, ຽຓໃ ບຍເຘໃ ຎ 2011 ຓໃ ຌ

ຂາຈຈຌ ນຈຖຄ 7,72% ຘາຽນຈຓາາກຓຌໃ າກາຌຘໃ ຄບບກຘຌ ໄາ ຽຑໃ ຓຂ ໄຌ 3,63%. ຓຌໃ າກາຌ ໄາຉໃ າຄຎະຽຈຄໝຈ ຍຌຖ 4.736,14 ຖ ໄາຌຈຖາຘະນະຖຈ ນ ຽຑໃ ຓຂ ໄຌ 3,10% ຍເຘໃ 2011, ເຌຌ ໄຌ ຓຌໃ າກາຌຌ າຽຂ ໄາ ຓ າຌທຌ 2.467,11 ຖ ໄາຌຈຖາຘະນະຖຈ ຽຑໃ ຓຂ ໄຌ 2,62% ຽຓໃ ບຍເຘໃ ຎ 2011. ກາຌຌ າຽຂ ໄາຘຌ ໄາຘໃ ທຌເນໃ ງ ຓໃ ຌຘຌ ໄາຆຓເຆ ໄ ຓຓຌໃ າ 1.186,94 ຖ ໄາຌຈຖາຘະນະຖຈ ຆໃ ຄຽຑໃ ຓຂ ໄຌ 36,80%, ປບຄຖຄຓາຓໃ ຌຘຌ ໄາຽຑໃ ບກາຌຖຄຌ ຓຓຌໃ າ 1.180,01 ຖ ໄາຌຈຖາຘະນະຖຈ ນຈຖຄ 17,12% ຖະ ຌ າຽຂ ໄາແຒຒໄາ 63,44 ຖ ໄາຌຈຖາຘະນະຖຈ ຽຑໃ ຓຂ ໄຌ 55,07%. ຘ າຖຍຓຌໃ າກາຌຘໃ ຄບບກ າຌທຌ 2.269,03 ຖ ໄາຌຈຖາຘະນະຖຈ ຽຑໃ ຓຂ ໄຌ 3,63% ຽຓໃ ບຍເຘໃ ຎ 2011, ເຌຌ ໄຌ ຓຌໃ າກາຌຘໃ ຄບບກປໃ າຈຓ 946,87 ຖ ໄາຌຈຖາຘະນະຖຈ ນກທຓຽບາ 41,73% ຂບຄກາຌຘໃ ຄບບກຄໝຈ. ຂະຌະໃ ກາຌຘໃ ຄບບກແຒຒໄາ ຓຓຌໃ າ 502,2 ຖ ໄາຌຈຖາຘະນະ

ຖຈ ກທຓຽບາ 22,13% ຂບຄຘຌ ໄາຘໃ ຄບບກ ຽຑໃ ຓຂ ໄຌ 53,50% (ປຍໃ 21).

2. ຈຌຍ ຖກາຌ ເຌຎ 2012 ຈຌຍ ຖກາຌຘຈຽກຌຈຌ 236,05 ຖ ໄາຌຈຖາຘະນະຖຈ, ເຌຌ ໄຌ ຖາງປຍາກກາຌຍ ຖກາຌ

ຓຓຌໃ າ 577,22 ຖ ໄາຌຈຖາຘະນະຖຈ ຖະ ຖາງໃ າງຓຓຌໃ າ 341,17 ຖ ໄາຌຈຖາຘະນະຖຈ. ຈຌຍ ຖກາຌຘຈ ຽກຌຈຌຽຑໃ ຓຂ ໄຌ າຌທຌ 8,03 ຖ ໄາຌຈຖາຘະນະຖຈ ນ 3,52% ຽຓໃ ບຍເຘໃ ຎ 2011, ຘາຽນຈຓໃ ຌງ ໄບຌຖາງປຍາກກາຌໃ ບຄໃ ທ ຽຑໃ ຓຂ ໄຌ 11,05% ຽປຈເນ ໄຓຖາງປຍາກກາຌໃ ບຄໃ ທຎະຓາຌ 451,05 ຖ ໄາຌຈຖາຘະນະຖຈ ນ ກທຓຽບາ 8,53% ຂບຄ GDP ຽຌໃ ບຄາກ ຘຎຎ ຖາທ ແຈ ໄຓບກາຈຽຎຌຽ ໄາຑາຍເຌກາຌຈກບຄຎະຆຓຘຈງບຈບາຽຆຓ ໄຄ 9 ຖະ ຄາຌຓະນະກ າກຖາຓະນາແຖບາຆຌຽປຈເນ ໄຓຌກໃ ບຄໃ ທຉໃ າຄຆາຈຽຂ ໄາ ຓາໃ ທ ຘຎຎ ຖາທ ນາງຂ ໄຌເຌຆໃ ທຄຎຌ ໄ. ຌກໃ ບຄໃ ທາກຍຌຈາຎະຽຈບາຆຌຓ 2,63 ຖ ໄາຌຌ ກທຓຽບາ 81,81% ຂບຄຌກໃ ບຄໃ ທຄໝຈ, ເຌຌ ໄຌ ຌກໃ ບຄໃ ທາກຎະຽຈແ ຓ 1,87 ຖ ໄາຌຌ ນ ກທຓຽບາ 58,35% ຂບຄຌກໃ ບຄໃ ທຄໝຈ (ປຍ 22).

1.091,91 1.052,68

1.746,37

2.189,55 2.269,03

-1.403,17 -1.461,08

-2.060,43

-2.404,19 -2.467,11-3000

-2000

-1000

0

1000

2000

3000

2008 2009 2010 2011 2012(P)

ກາຌຘໃ ຄບບກ ກາຌຌ າຽຂ ໄາ ຈຌກາຌໄາ

ປຍ 21: ກາຌໄາຉໃ າຄຎະຽຈ ຖະ ກາຌຂະນງາງຉທຂບຄກາຌຘໃ ຄບບກ-ຌ າຽຂ ໄາ

18,34%

-3,59%

65,9%

25,38%

3,63%

31,8%

4,13%

41,02%

16,68%

2,62%

-10

0

10

20

30

40

50

60

70

2008 2009 2010 2011 2012(P)

ກາຌຘໃ ຄບບກ ກາຌຌ າຽຂ ໄາ


ຽຎຽຆຌຎໃ ຌຎຄ (%) ຖ ໄາຌຈຖາຘະນະຖຈ


Bank of the Lao PDR


1. Foreign trade

In 2012, trade balance remained in deficit of USD 198.08 million, but the deficit

was declined by 7.72 percent compared to 2011, due to the value of goods export rose by

3.63 percent. The total value of imports and exports reached at USD 4,736.14 million

rose by 3.10 percent compared to 2011. Of which, total value of import was amounted to

USD 2,467.11 million, rose by 2.62 percent compared to 2011. The component of

imported goods were consumption goods, which was amounted to USD 1,186.94 million,

rose by 36.80 percent, followed by capital for investment was amounted to USD 1,180.01

million dropped by 17.12 percent and import of electricity was amounted to USD 63.44

million, rose by 55.07 percent. On the other hand, total value of export was amounted to

USD 2,269.03 million, rose by 3.63 percent compared to 2011. Of which, the value of

mining export was amounted to USD 946.87 million and represented to 41.73 percent of

total export. While electricity export was amounted to USD 502.2 million, rose by 53.50

percent and represented to 22.13 percent of total export (Figure 21).

2. Service

In 2012, net service account recorded a surplus of USD 236.05 million. Of which,

revenue was amounted to USD 577.22 million and expenditure was amounted to USD

341.17 million. Net service account increased in surplus of USD 8.03 million or up by

3.52 percent compared to 2011 was driven by tourism sector that rose by 11.05 percent,

which was amounted to USD 451.05 million, represented USD 8.53 percent of GDP, due

to Lao PDR had the opportunity to host the 9th Asia-Europe Meeting (ASEM9) summit

and the 16th ASEAN University Games, which attracted more foreign tourists to make a

visit to Lao PDR during this period. Particularly, the number of tourists from Asian

countries reached more than 2.63 million people, covered 81.81 percent of total tourists.

Of which, Thai tourists reached 1.87 million people or covered 58.35 percent of total

tourists (Figure 22).

1,091.91 1,052.68

1,746.37

2,189.55 2,269.03

-1,403.17 -1,461.08

-2,060.43

-2,404.19 -2,467.11

-311,26-408,41 -314,06

-214,64

-198,08

-3000

-2000

-1000

0

1000

2000

3000

2008 2009 2010 2011 2012(P)

Exports (f.o.b.)

Imports (c.i.f.)

Trade Balance

18,34%

-3,59%

65,9%

25,38%

3,63%

31,8%

4,13%

41,02%

16,68%

2,62%

-10

0

10

20

30

40

50

60

70

2008 2009 2010 2011 2012(P)

Exports (f.o.b.)

Imports (c.i.f.)

Figure 21: Foreign Trade and Growth of Exports and Imports


Million of USD Percent (%)



3. ຈຌຖາງແຈ ໄ

ເຌຎ 2012 ຈຌຖາງແຈ ໄຘຈຘຍຉ ໃ ຂາຈຈຌ 81,20 ຖ ໄາຌຈຖາຘະນະຖຈ ຆໃ ຄຂາຈຈຌຽຑໃ ຓຂ ໄຌ 4,09%

ຽຓໃ ບຍເຘໃ ໄາງຎ 2011, ຘາຽນຈຉ ໄຌຉ ງ ໄບຌຓຖາງໃ າງຽຄຌຽຈບຌຂບຄຌຉໃ າຄຎະຽຈໃ ຽປຈທກຌ າຘະຊາຌ ຈຖາທ ຽຑໃ ຓຂ ໄຌ 19% ຽຓໃ ບຍເຘໃ ຎ 2011. 4. ຽຄຌບຌຆໃ ທງຽນບ

ຽຄຌບຌຆໃ ທງຽນບຖ ໄາຘຍຉ ໃ ຽກຌຈຌ 251,98 ຖ ໄາຌຈຖາຘະນະຖຈ ນ ຽຑໃ ຓຂ ໄຌ 13,11%, ເຌຌ ໄຌ ຽຄຌບຌຆໃ ທງຽນບຖ ໄາຑາກຖຈຊະຍາຌ ຽຑໃ ຓຂ ໄຌ 19,95 ຖ ໄາຌຈຖາຘະນະຖຈ ນ 13,37% ຖະ ຽຄຌບຌຑາກຽບກະຆຌຽຑໃ ຓຂ ໄຌ 9,26 ຖ ໄາຌຈຖາຘະນະຖຈ ນ 12,59% ຽຓໃ ບຍເຘໃ ຎ 2011.

5. ໜໄຘຌຉ ໃ ຉໃ າຄຎະຽຈ ຓາປບຈຎ 2012 ງບຈຽນບໜ ໄຘຌຉໃ າຄຎະຽຈຂບຄ ຘຎຎ ຖາທ າຌທຌ 3.036,75 ຖ ໄາຌຈຖາຘະນະຖຈ

ຽຑໃ ຌຂ ໄຌ 3,15% ຽຓໃ ບຍເຘໃ ຎ 2011 ຖະ ກທຓຽບາ 33,43% ຂບຄ GDP. ໜໄຘຌຽຄຌກ ໄແຖງະງາທຍຍຘບຄ ຐໃ າງ ກທຓຽບາ 46,28% ຂບຄໜໄຘຌຉ ໃ ຉໃ າຄຎະຽຈຄໝຈ ຖະ ຽຑໃ ຓຂ ໄຌາກຎຏໃ າຌຓາ 12,47%, ຘໃ ທຌໜໄຘຌຽຄຌກ ໄແຖງະງາທຍຍນາງຐໃ າງ ກທຓຽບາ 53,72% (ປຍ 23)

275,51 267,70

381,67 406,18

451,05

50

100

150

200

250

300

350

400

450

500

20

08

20

09

20

10

20

11

20

12

ຖາງປຍາກກາຌໃ ບຄໃ ທ

1.736.78

2.008.36

2.513.022.723.56

3.212.91

0

500000

1000000

1500000

2000000

2500000

3000000

3500000

20

08

20

09

20

10

20

11

20

12

ຉທຽຖກຌກໃ ບຄໃ ທ

ປຍ 22: ຖາງປຍ ຖະ ຉທຽຖກຌກໃ ບຄໃ ທໃ ຽຂ ໄາຓາ ຘຎຎ ຖາທ

ປຍ 23: ໜໄຘຌຉໃ າຄຎະຽຈ

48,73% 48,24%

41,04%36,52%

33,43%

5,49% 4,63% 4,24% 4,82% 3,15%

00

10

20

30

40

50

60

2008 2009 2010 2011 2012

ໜໄຘຌຉ ໃ ຉໃ າຄຎະຽຈຄໝຈຍເຘໃ ຈຑ ກາຌຂະນງາງຉທໜໄຘຌຉ ໃ ຉໃ າຄຎະຽຈຄໝຈ



ຖ ໄາຌຈຖາຘະນະຖຈ ຌ

ຽຎຽຆຌ (%)


Bank of the Lao PDR


3. Factor Income

In 2012, the net factor income continued to be in deficit of USD 81.20 million,

which increased by 4.09 percent compared to 2011, the major cause was due to salaries of

foreigners working in Lao embassy rose by 19 percent compared to 2011.

4. Current Transfer

Current transfer continued to record a surplus of USD 251.98 million or rose by

13.11 percent. Of which, official transfer was amounted to USD 19.95 million or rose by

13.37 percent and private transfer was amounted to USD 9.26 million or rose by 12.59

percent compared to 2011.

5. External Debt

As end of 2012, total outstanding external debts of Lao PDR recorded at USD

3,036.75 million, increased by 3.15 percent compared to 2011 and covered 33.43 percent

of GDP. Of which, long-term bilateral debts covered 64.28 percent of total outstanding

external debts or rose by 12.47 percent compared to last year, while long-term

multilateral debts covered 53.72 percent (Figure23).

275.51 267.70

381.67406.18

451.05

50

100

150

200

250

300

350

400

450

500

2008 2009 2010 2011 2012

Revenues From Tourism

1,736,787

2,008,363

2,513,028

2,723,563

3,212,916

0

500000

1000000

1500000

2000000

2500000

3000000

3500000

2008 2009 2010 2011 2012

Number of Tourist Arrivals

Million of USD

Figure 22: Number of Tourist Arrivals to Lao PDR


Number of Tourists Arrival

48,73% 48,24%

41,04%36,52%

33,43%

5,49% 4,63% 4,24% 4,82% 3,15%

0

10

20

30

40

50

60

2008 2009 2010 2011 2012

Total Debt Stock/GDP Rate of Growth of Total Debt Stock

Figure 23: External Debts


Percent




6. ຈຌຍຌຆຌ ຖະກາຌຽຄຌ ເຌຎ 2012 ຈຌຍຌຆຌ ຖະ ກາຌຽຄຌຘຍຉ ໃ ຽກຌຈຌ າຌທຌ 622,09 ຖ ໄາຌຈຖາຘະນະຖຈ, ນຈຖຄ

2,75% ຽຓໃ ບຍເຘໃ ຎ 2011. ເຌຌ ໄຌ, ກະຘຽຄຌຌາກຉໃ າຄຎະຽຈຏໃ າຌຖະຍຍະຌາາຌຓຓຌໃ າ 294,38

ຖ ໄາຌຈຖາຘະນະຖຈ ນຈຖຄ 36,94% ຽຓໃ ບຍເຘໃ ຎ 2011 ຽຌໃ ບຄາກທໃ າກະຘຽຄຌຖຄຌຽຂ ໄາເຌຂະໜຄແຒຒໄາ ນຈຖຄຽຊຄ 76,81% ນ ຓຓຌໃ າກາຌຖຄຌຑຄຉໃ 39,73 ຖ ໄາຌຈຖາຘະນະຖຈ.

ຘ າຖຍກາຌຖຄຌເຌນກຆຍຂບຄຌກຖຄຌຉໃ າຄຎະຽຈ ຓຌໃ າ 5,74 ຖ ໄາຌຈຖາຘະນະຖຈ ຽຓໃ ບຍເຘໃຎ 2011, ນຈຖຄ 49,87% ງ ໄບຌທໃ າກາຌຖຄຌເຌປ ໄຌຂບຄຍ ຖຘຈແຒຒໄາຖາທຓະນາຆຌ (EDL-Gen) ນຈຖຄ 3,98 ຖ ໄາຌຈຖາຘະນະຖຈ ຖະ ກາຌຖຄຌປ ໄຌຂບຄະຌາາຌກາຌ ໄາຉໃ າຄຎະຽຈຖາທ ຓະນາຆຌ ນຈຖຄ 1,69

ຖ ໄາຌຈຖາຘະນະຖຈ ຽຓໃ ບຍເຘໃ ຎຏໃ າຌຓາ. ຘໃ ທຌກາຌຖຄຌບໃ ຌໂ ຽກຌຈຌ 321,97 ຖ ໄາຌຈຖາຘະນະຖຈ ຽຑໃ ຓຂ ໄຌ 99,55% ຽຓໃ ບຍເຘໃ ຎ 2011

ຘາຽນຈງ ໄບຌຆຍຘຌຉໃ າຄຎະຽຈຘຈຂບຄະຌາາຌຖະກຈຽຑໃ ຓຂ ໄຌ 109,00%.

V. ຈາຄຖທຓາຄຈ ໄາຌຓະນາຑາກຽຄຌຉາຂບຄ ຘຎຎ ຖາທ ເຌຎ 2013

ໃ າບໃ ຄເຌຎ 2013, ຽຘຈຊະກຈຖກາຈທໃ າງຄະຘຍຉ ໃ ຑຍຑ ໄກຍບຎະຘກ ຖະ ຘໃ ຄ ໄາາງນາງດໃ າຄ ຽຎຌຉ ໄຌ: ທກຈນຌ ໄຽບປຍ, ຘະຑາຍບຈຉານທໃ າຄຄາຌຘຄດໃ ເຌຎະຽຈຑຈະຌາຖ ໄທ, ແຑ າຓະຆາຈໃ ຓທາຓປຌປຄ ຖະ ຊໃ ຂ ໄຌ; ຍຌຈາຎະຽຈກ າຖຄຑຈະຌາງຄຉ ໄບຄແຈ ໄຖະຓຈຖະທຄເຌກາຌຈ າຽຌຌຌະງຍາງກະຉ ໄຌຽຘຈ ຊະກຈຍ ໃ ເນ ໄຘໃ ຄຏຌກະຍຽປຈເນ ໄບຈຉາຽຄຌຽຒໄຘຄ ຽຌໃ ບຄາກຘະຑາຍຖາາຘະຍຄບານາຌຖກຓໃ າບໃ ຄຘຄຂ ໄຌ; ຘ າຖຍຖາາຌ ໄາຓຌ, ຖາາ າ ຖະ ບຈຉາຖກຎໃ ຌງຄະຘຍຉ ໃ ຓທາຓຏຌຏທຌ. ຽຊຄຓໃ ຌທໃ າຘະຑາຍຽຘຈຊະກຈຂບຄຑາກຑ ໄຌ ຖະ ຘາກຌຓທາຓຘຍຘຌນງ ໄຄງາກກ ໃ ຉາຓ ຉໃ ນຖ ະຽຑໃ ຓະທທກຄາຌ ໄຓບຄຓະນາຑາກຈ ໄາຌຽຄຌຉານໃ ຄຆາຈເນ ໄໝ ໄຌໃ ຄຈ ໄທງກາຌຈ າຽຌຌຌະງຍາງຽຄຌຉາຍຍຎະຘຓຎະຘາຌ ຖະ ຑຈະຌາຽໃ ບຄຓຌະງຍາງຽຄຌຉາເນ ໄຓທາຓນຖາກນາງ, ຘຍຉ ໃ ຘ ໄາຄ ຖະ ຎຍຎຄຈ ໄາຌຌຉກ າ, ກຌແກ, ຖະຍບຍຖະຍຍກາຌ ໄຓບຄເນ ໄຘບຈໃ ບຄກຍຘະຑາຍຉໃ ຖະແຖງະ ຈງຘະຽຑາະກາຌນຌຖະຍຍກາຌ ໄຓບຄທາຓຘໃ ຄຂບຄະຌາາຌຖະກຈ ຖະ ຘະຊາຍຌກາຌຽຄຌຉາຓນຖກກາຌກາຌ ໄຓບຄທາຓຘໃ ຄ BASEL I ຽຑໃ ບກ ໄາທຘໃ BASEL II; ຆກງ ໄເນ ໄະຌາາຌຖະກຈ ຽຑໃ ຓະທກາຌຖະຈຓຽຄຌຐາກ ຈ ໄທງກາຌຎຍຎຄບຈຉາຈບກຽຍ ໄງເນ ໄແຎຉາຓຽຄ ໃບຌແຂຽຘຈຊະກຈຑາງເຌຎະຽຈ, ໃ າບໃ ຄຂບຄຘາກຌ ຖະ ຑາກຑ ໄຌ. ຑ ໄບຓຄຆກງ ໄກາຌຂະນງາງຉາໜໃ າຄຍ ຖກາຌຂບຄະຌາາຌຖະກຈເນ ໄກທ ໄາຄຂທາຄ, ຎຍຎຄກຌແກກາຌຍ ຖກາຌເນ ໄຘະຈທກຘະຍາງກທໃ າຽກໃ າ ຖະ ນຌຘໃ ທາຓຽຎຌຌຘະແໜນາງຂ ໄຌ; ຘຍຉ ໃ ໄຓບຄກະຘຽຄຌຌາກຉໃ າຄຎະຽຈຽຂ ໄາ-ບບກ ຘຎຎ ຖາທ ຖະ ທກຄາຌຘໃ ຄຽຘຓກາຌຌ າເຆ ໄຽຄຌກຍດໃ າຄຂຄປຄ, ຎຍຎຄກາຌຍ ຖກາຌເນ ໄຌຘະແໝ ຖະ ຂະນງາງຉາໜໃ າຄກາຌຍ ຖກາຌເນ ໄໃ ທຽຊຄ ຖະ ຆກງ ໄຘໃ ຄຽຘຓກາຌຆ າຖະຈງຍ ໃ ເຆ ໄຽຄຌຘຈດໃ າຄຉ ໄຄໜ ໄາ, ຽຑໃ ຓະທກາຌ ໄຓບຄ ກທຈກາະຌາາຌຖະກຈ ຖະ ຘະຊາຍຌກາຌຽຄຌເນ ໄຓທາຓໝ ໄຌຄ.


Bank of the Lao PDR


6. Financial and capital account

In 2012, the financial and capital account continued to record a surplus of USD

622.09 million dropped by 2.75 percent compared to 2011. Of which, foreign direct

investment (FDI) was amounted to USD 294.38 million, dropped by 36.94 percent

compared to 2011, due to capital inflows in electricity sector registered only at USD

39.73 million, which dropped by 76.81 percent.

The value of foreign investors invested in the LSX was equivalent to USD 5.74

million dropped by 49.87 percent compared to 2011, because the decrease in share of

EDL-Gen of USD 3.98 million and in shares of BCEL of USD 1.69 million compared to

previous year.

On the other hand, other investments recorded in surplus of USD 321.97 million,

which rose by 99.55 percent compared to 2011, driven by net foreign assets of

commercial banks, rose by 109.00 percent compared to 2011.

V. Lao monetary outlook for 2013.

Economic outlook in the year 2013, global economic is forecasted to face with

obstacles and various challenges such as: debt crisis in Europe, high unemployment rate

in advanced countries, the severe natural calamities, which increasingly occur.

Developing countries are remained to stay alert and implement their economic

stimulation policies discreetly in order to avoid its impact on inflation, due to the global

food price outlook is forecasted to increase, while oil price, gold price and exchange rate

will continue to volatile. Although regional and international economies remain in

turbulence, the BOL will continue to improve its monetary framework with its aim to

maintain long-term monetary stability by implementing a mixed monetary policy,

diversifying monetary policy instruments. Furthermore, the BOL will continue to create

and improve its legislation, mechanism, regime, regulation on banking supervision to be

in line with the phase of each period. Particularly, to convert the existing risk supervision

regulation of commercial banks and financial institutions to be in accordance with Basel I

in order to moving forward to Basel II principles; encourages the commercial banks to

increase in deposit mobilization by setting interest rate to be in accordance with economic

conditions in the country, regional and international trends. Moreover, the BOL will

encourage commercial banks to increase and expand their service network and to improve

their service mechanism to become more facilitated and modernized, monitor closely on

inflows and outflows of capital and intensify its campaign to promote the use of Kip;

continue to improve financial service and expand its network and promote the non-cash

payment means through banking system.


ໃ າຌ ຘຓຘະນທາຈ ຽຖໃ ຄຘະນທຈ ປບຄຌາງກຖຈຊະຓຌຉ

ຎະາຌຘະຑາຍ ຖນາຌ ນຖ Mr. Somsavat LENGSAVAD,

Deputy Prime Minister, Chairman of

Executive Board

ໃ າຌ ຈຕ. ຘຓຑາທ ແຒຘຈ ຏ ໄທໃ າກາຌະຌາາຌນໃ ຄ ຘຎຎ ຖາທ ປບຄຎະາຌຘະຑາຍ ຖນາຌ ນຖ Dr. Somphao PHAYSITH,

Governor of the Bank of Lao PDR,

Vice Chairman

ໃ າຌ ຑຽຑຈ າຑຌທຄ ຖຈຊະຓຌຉທໃ າກາຌກະຆທຄກາຌຽຄຌ ປບຄຎະາຌຘະຑາຍ ຖນາຌ ນຖ

Mr. Phouphet KHAMPHOUNVONG,

Minister of Finance, Vice Chairman

ໃ າຌ ຘຓຍຌ ຖາຆາຘຓຍຈ ຖຈຊະຓຌຉຆໃ ທງທໃ າກາຌກະຆທຄ

ຑະຖຄຄາຌ ຖະ ຍ ໃ ປໃ ກ າຓະກາຌຘະຑາຍ ຖນາຌ ນຖ

Mr. Somboun RASASOMBATH,

Deputy Minister of Ministry of

Energy and Mines, Board member

ໃ າຌ ຘທຘະນທາຈ ຘະນທຄຘກຘາ ຖຈຊະຓຌຉຆໃ ທງທໃ າກາຌກະຆທຄ ບຈຘະນະກ າ-ກາຌໄາ

ກ າຓະກາຌຘະຑາຍ ຖນາຌ ນຖ Mr. Siaosavath SAVENGSUKSA,

Deputy Minister of Ministry of Industry

and Commerce, Board member

ໃ າຌ ຈຕ. ຉ ຑຓຓະກ ຖຈຊະຓຌຉຆໃ ທງກາຌກາຌກະຆທຄກະຘກ າ-ຎໃ າແຓ ໄ

ກ າຓະກາຌຘະຑາຍ ຖນາຌ ນຖ Dr. Ty PHOMMASACK,

Deputy Minister of Ministry of Agriculture

and Forestry, Board member

ໃ າຌ ຘບຌແຆ ຘຈຑະແຆ ປບຄຏ ໄທໃ າກາຌະຌາາຌນໃ ຄ ຘຎຎ ຖາທ

ກ າຓະກາຌຘະຑາຍ ຖນາຌ ນຖ Mr. Sonexay SITHPHAXAY,

Deputy Governor, Board member

ຘະຑາຍ ຖນາຌ Executive Board



ໃ າຌ ຈຕ. ຘຓຑາທ ແຒຘຈ ຏ ໄທໃ າກາຌະຌາາຌນໃ ຄ ຘຎຎ ຖາທ Dr. Somphao PHAYSITH,

Governor of the Bank of Lao PDR

ໃ າຌ າທຄ ຍຑະທຄ ປບຄຏ ໄທໃ າກາຌະຌາາຌນໃ ຄ ຘຎຎ ຖາທ

Mr. Khamvong THIPPHAVONG,

Deputy Governor

ໃ າຌ ຘບຌແຆ ຘຈຑະແຆ ປບຄຏ ໄທໃ າກາຌະຌາາຌນໃ ຄ ຘຎຎ ຖາທ Mr. Sonexay SITHPHAXAY,

Deputy Governor

ໃ າຌ ບ ໄ ທຖະຑຌ ຏ ໄຆໃ ທງທກະຌະຏ ໄທໃ າກາຌ ະຌາາຌນໃ ຄ ຘຎຎ ຖາທ

Mr. Or VILAPHAN Assistant Governor

ໃ າຌ ຌ. າຑາ ຎາຌຓະແຖບຄ ຏ ໄຆໃ ທງທກະຌະຏ ໄທໃ າກາຌະຌາາຌນໃ ຄ ຘຎຎ ຖາທ

Mrs. Khampha PANEMALAYTHONG

Assistant Governor

ະຌະຏ ໄທໃ າກາຌະຌາາຌນໃ ຄ ຘຎຎ ຖາທ

Governor and Deputy Governors



ໃ າຌ ຌ. ຑາຘ ຑຓຓະກບຌ ນທໜໄານ ໄບຄກາຌ ນຖ

Mrs. Phasy PHOMMAKONE

Director General,

Administration Department

ໃ າຌ ຌ. ຍຌຉາ ຈາຕາທ ນທໜໄາກຓຈຉ ໄຄ ຖະ ຑະຌກຄາຌ

Mrs. Bounta DALAVY

Director General,

Organization and Personnel

Department

ໃ າຌ ຑຈະແຆ ຘທແຆ ນທໜໄາກຓ ໄຓບຄະຌາາຌຖະກຈ Mr. Phouthaxay SIVILAY

Director General,

Commercial Banks Supervision

Department

ໃ າຌ ຌ. ຈທຄຈ ຑຓທຄຘາ ທກ. ນທໜໄາຘະຊາຍຌກາຌະຌາາຌ

Mrs. Douangdy PHIMVONGSA

Director General Banking

Institute

ໃ າຌ ໜ ໃ ກ ໄທ ຓຌທຄ ປກຘາກາຌນທໜໄາກຓກທຈກາຑາງເຌ Mr. Norkeo MOUNIVONG

Acting Director General

Internal Audit Department

ໃ າຌ ຈຕ. ບາຓ ຎຕະຽຘຈ ນທໜໄາກຓ ໄຓບຄຘະຊາຍຌກາຌຽຄຌ

Dr. Arkhom PRASEUTH

Director General,

Financial Institutions Supervision

Department

ໃ າຌ າຑຈ ຘຈຖາຈ ນທໜໄາກຓຌະງຍາງຽຄຌຉາ

Mr. Khamphout SITTHILATH

Director General,

Monetary Policy Department

ໃ າຌ ຌ. ຂຌກ ໄທ ນ ໄາຓະຌຽຄາ ນທໜໄາກຓຍຌຆ-ກາຌຽຄຌ

Mrs. Khankeo LAHMANINGAO

Director General,

Accounting Department

ໃ າຌ ຘທແຖ ຑຓຓະກ ນທໜໄາກຓຍ ຖກາຌະຌາາຌ

Mr. Sivilay PHOMMACHACK

Director General,

Banking Operations Department

ໃ າຌ ຎາຌບຓ ຖາຖ ນທໜໄາກຓຑທຑຌຘາກຌ

Mr. Panom LATHOULY

Director General,

International Relations Department

ນທໜໄາກຓ ຖະ ຍຽໃ າກຓ

Director Generals and Equivalent Ranks

ໃ າຌ ຘຑຈ ຈງາ ນທໜໄາກຓຽຄຌຉາ-ຄຘາຄ

Mr. Souphat KHOTNHOTHA

Director General,

Currency Issues Department

ໃ າຌ ຍຌະທ ກະຖຄ ນທໜໄາຘຌຍ ຖກາຌຽກຍຆ ໄໜ ໄ

ຖະ ປຍຐາກຽກຍໜ ໄ Mr. Bounthavy KEATHALONG

Director General ,

Debit Processing center



ໃ າຌ ຽຖໃ ບຌ ທຄຑຕະຌະບຌ ນທໜໄາໜໃ ທງຄາຌຉ ໄາຌກາຌຒບກຽຄຌ

Mr. Leuane VONGPHRANAKHORN

Director of Anti Money Laundering

Intelligence Unit

ໃ າຌ ແຂໃ ກ ໄທ ນທຄຘທແຖ ນທໜໄາຘຌຽຉກຌຖຆ ຖະ ຂ ໄຓຌຂໃ າທຘາຌ

Mr. Khaikeo LUANGSIVILAY

Director General, Information and

Communication Technology Center

ໃ າຌ ຎະຓຌ ຌຌະທຄ ປກຘາກາຌນທໜໄາປຄຑຓະຌາຍຈ ນຖ

Mr. Pamoun NANTHAVONG

Acting Director General,

Printing House

ໃ າຌ ຍຌແ ຘຑຈບຌ ນທໜໄາ ນຖ ຑາກຽໜບ ໃ ຂທຄບຈຓແຆ Mr. Boonthai SOUPHADTHONE

Director General, Northern Branch,

Udomxay Province

ໃ າຌ ທຌ າ ຈທຄຓະຌຌ ນທໜໄາ ນຖ ຑາກຽໜບ ໃ ຂທຄນທຄຑະຍາຄ

Mr. Vanhkham DUANGMANICHANH

Director General, Northern Branch,

Luangprabang Province

ໃ າຌ ຍຌທຄ ຈທຄຈບກຽກຈ ນທໜໄາ ນຖ ຑາກກາຄ ໃ ຂທຄຘະນທຌຌະຽຂຈ Mr. Bounvong DUANGDOKKHETH

Director General, Central Branch,

Savanhnakhet Province

ໃ າຌ ຌະ ຌຉະຖທຄ ນທໜໄາ ນຖ ຑາກເຉໄ ໃ ຂທຄ າຎາຘກ

Mr. Nah CHANTALIVONG

Director General, Southern Branch,

Champasack Province

ໃ າຌ ຘຌຉ ຑຌຽຓບຄຖາທ ຏ ໄບ າຌທງກາຌກບຄຌຎກຎໄບຄຏ ໄຐາກຽຄຌ

Mr. Santy PHONMEUANGLAO

Director General, Depositor Protection Fund

ໃ າຌ ຌ. ທຈະຌາ ຈາຖາຖບງ ນທໜໄາຘ າຌກຄາຌະຌະກ າຓະກາຌ ໄຓບຄນກຆຍ

ຖະ ຉະນາຈນກຆຍ Mrs. Vathana DALALOY

Director General, Lao Securities and

Exchange Commission Office

ໃ າຌ ປຘ. ຽຈຈຑທຄ ຓຖຕຉຌ ຎະາຌ ຖະ ຏ ໄບ າຌທງກາຌເນງໃ

ຉະນາຈນກຆຍຖາທ Associate Prof. Dethphouvang MOULARAT

Chairman and CEO of the Lao Securities Exchange



ຏຌທາຈ 1: ຄປໃ າຄກາຌຈຉ ໄຄຂບຄະຌາາຌນໃ ຄ ຘຎຎ ຖາທ

ຘະຑາຍ ຖນາຌ

ຏ ໄທໃ າກາຌ

ປບຄຏ ໄທໃ າກາຌ

ນໄບຄກາຌ

ກຓຈຉ ໄຄ ຖະ ຑະຌກຄາຌ

ກຓກທຈກາຑາງເຌ

ກຓຍຌຆ-ກາຌຽຄຌ

ຘຌຽຉກຌຖຆ ຖະ ກາຌຘໃ ຘາຌຂ ໄຓຌຂໃ າທຘາຌະຌາາຌ

ກຓຽຄຌຉາ-ຄຘາຄ

ປຄຑຓ ນຖ

ກຓຌະງຍາງຽຄຌຉາ

ກຓ ໄຓບຄະຌາາຌຖະກຈ

ກຓຍ ຖກາຌະຌາາຌ

ກຓ ໄຓບຄຘະຊາຍຌກາຌຽຄຌ

ກຓຑທຑຌຘາກຌ

ຑາກຘໃ ທຌໃ ຂ ໄຌກຍກາຌຆ ໄຌ າຂບຄະຌາາຌນໃ ຄ ຘຎຎ ຖາທ

ຘ າຌກຄາຌະຌະກ າຓະກາຌ ໄຓບຄນກຆຍ ຖະ ຉະນາຈນກຆຍ

ຉະນາຈນກຆຍຖາທ

ຘຌຍ ຖກາຌຽກຍຆ ໄໜ ໄ ຖະ ປຍຐາກຽກຍໜໄ

ກບຄຌຎກຎໄບຄຏ ໄຐາກຽຄຌ

ໜໃ ທງຄາຌຉ ໄາຌກາຌຒບກຽຄຌ

ຘະຊາຍຌກາຌະຌາາຌ

ະຌາາຌນໃ ຄ ຘຎຎ ຖາທ ຑາກຽໜບ ໃ ຂທຄບຈຓແຆ

ະຌາາຌນໃ ຄ ຘຎຎ ຖາທ ຑາກເຉ ໄ ໃ ຂທຄ າຎາຘກ

ະຌາາຌນໃ ຄ ຘຎຎ ຖາທ ຑາກຽໜບ ໃ ຂທຄນທຄຑະຍາຄ

ະຌາາຌນໃ ຄ ຘຎຎ ຖາທ ຑາກກາຄ ໃ ຂທຄຘະນທຌຌະຽຂຈ



Chart 1: Organizational Chart of the Bank Lao PDR

Executive Board

Governor

Deputy Governor

Administration Department

Organization & Personnel

Department

Internal Audit Department

Accounting Department

Information Communication

Technology of the Bank

Currency Issue Department

Printing House

Monetary Policy Department

Commercial Banks Supervision

Department

Banking Operations Department

Financial Institutions

Supervision Department

International Relations

Department

Relevant Institutions Under Leadership

of the Bank of the Lao PDR

Lao Securities and Exchange

Commission Office

Lao Securities Exchange

Asset Management Center

Depositor Protection Fund

Anti Money Laundering

Intelligence Unit

Banking Institute

Bank of the Lao PDR Northern

Branch at Oudomxay province

Bank of the Lao PDR Southern

Branch at Champasack province

Bank of the Lao PDR Northern

Branch at Luangphabang

province

Bank of the Lao PDR Central

Branch at Savanhnakhet

province

Bank of the Lao PDR


ຏຌທາຈ 2: ຄປໃ າຄກາຌຈຉ ໄຄ ຂບຄຖະຍຍະຌາາຌເຌ ຘຎຎ ຖາທ


ະຌາາຌ ກາຌ ໄາຉໃ າຄ ຎະຽຈຖາທ ຓະນາຆຌ

ະຌາາຌ ຑຈະຌາຖາທ ະຌາາຌ ຘໃ ຄຽຘຓກະຘກ າ ະຌາາຌ ຌະງຍາງ

ະຌາາຌຖະກຈຖຈ

ະຌາາຌ ປໃ ທຓຑຈະຌາ ະຌາາຌ ຑຄຘະນທຌ າກຈ ະຌາາຌ ຽບຘ າກຈ ະຌາາຌ ບຌຈຌ ະຌາາຌ ຍດບຄຖາທ າກຈ ະຌາາຌ ຖາທກ ໃ ຘ ໄາຄ າກຈ

ະຌາາຌປໃ ທຓຌ

ະຌາາຌປໃ ທຓຖະກຈຖາທ–ນທຈ

ະຌາາຌ ຖາທ–ຐຕໃ ຄ

ະຌາາຌຽບກະຆຌ ະຌາາຌເຌຽບ

ະຌາາຌ ຽບຽບຌຆຈຖາທ າກຈ ະຌາາຌ ຽບຆຖຈາຖາທ າກຈ ະຌາາຌ ກາຌ ໄາຘາກຌຖາທ າກຈ

ະຌາາຌ ກຄຽຍ າກຈ ະຌາາຌ ກຄແ າກຈ ະຌາາຌ ກຄຘບະງະງາ າກຈ ະຌາາຌ ະນາຌແ າກຈ ະຌາາຌ ແຑາຌຈ າກຈ ະຌາາຌ ຑາຍຖກ ຽຍຕາຈ ະຌາາຌ ຑາຍຖກ ຘາຂາ ຘແ ະຌາາຌ ຑາຍຖກ ຘາຂາ ຘະນທຌຌາຽຂຈ ະຌາາຌ ກຄຘບະງະງາ າກຈ ຘາຂາ ຘະນທຌຌາຽຂຈ

ະຌາາຌ ແຆຄໃບຌຽໃ ບຄຉຌ ຘາຂາຖາທ ະຌາາຌ ປ ໄຌຘໃ ທຌກາຌ ໄາະນາຌ ຘາຂາຖາທ ະຌາາຌ ບຈຘະນະກ າ ຖະ ກາຌ ໄາ ຘາຂາ ຌະບຌນທຄ

ະຌາາຌ ນທຈຉຌ ຘາ ຂາຖາທ ະຌາາຌ ກາຌ ໄາແຆຄໃບຌ ປ ໄາຌ ໄງ ຘາຂາຖາທ ະຌາາຌ ຑາຍຖກ ຘາຂາ ຎາກຽຆ ະຌາາຌ ຽຓຍຄ ຘາຂາ ຖາທ

ະຌາາຌຖະກຈຉໃ າຄຎະຽຈ

ໝາງຽນຈ: ະຌາາຌຌະງຍາງ ຓໃ ຌະຌາາຌຘະຽຑາະກຈ, ຓໜໄາຎະຉຍຈຉາຓຌທາຄຌະງຍາງຂບຄຖຈຊະຍາຌເຌກາຌຘະໜບຄຌຽຑໃ ບກ ໄແຂທາຓກງາກເຌຂບຍຽຂຈຉທຽຓບຄກງາກໃ ກ າຌຈຈງຖຈຊະຍາຌ.



Chart 2: Organizational Chart of Lao Banking System

Bank of the Lao PDR

Banque pour le

Commerce Extrieur Lao

Lao Development Bank

Agricultural Promotion

Bank

Nayoby Bank

State-Owned

Commercial Banks

Joint Development Bank

Phongsavanh Bank

ST Bank

Indochina Bank Booyong Lao Bank

Lao Construction Bank

Joint Venture Banks

Lao-Viet Bank

Barque Franco-Lao

Private Banks Affiliated Banks

ANZ Lao Bank

Acleda Bank Lao Ltd

International Commercial Bank

Bangkok Bank

Krung Thai Bank

Ayudhya Bank

Thai Military Bank Siam Commercial Bank Public Bank Public Bank Sikhai Branch Public Bank Savanakheht Branch Ayudhya Bank Savanakheht Branch Sacom Bank

Military Commercial Joint Stock

Bank

ICBC Bank

Vietin Bank Lao Branch

Saigon-Honoi Commercial Joint

Stock Bank Branch

Public Bank Pakse Branch May Bank

Foreign Branchs

Noted: Nayody is a special red bank,

which has a play role guided by state to

pro aide the capital in order to solute the

poverty reduction in the range of poor

districts as set by Government.

Bank of the Lao PDR

ຍຈຖາງຄາຌເຘຈຊະກຈ ຎະ າຎ 2012 Annual Economic Report 2012

ະຌາາຌແນໆຄ ຘຎຎ ຖາທ / Bank of the Lao PDR

ຖາງກາຌ 2008(R) 2009(R) 2010(R) 2011(R) 2012 (P) Items

ຂະແໜຄກາຌຏະຖຈ ເຎເຆຌກາຌຎໆຽຌແຎຄ/ in percent change Real Sector

ຖທຓງບຈຏະຖຈຉະຑຌຑາງໃຌຉາຓຖາາຎ 2002 7.78 7.50 8.13 8.04 7.93 GDP growth rate at constant price 2002

ບຈຉາເຄຌເຒ າງຎ 3.17 3.92 5.76 7.70 4.73 Inflation rate (End of Period)

ບຈຉາເຄຌເຒຘະເຖໆງໃຌຎ 7.63 0.03 5.98 7.58 4.26 Annual inflation rate (average)

ກາຌເຄຌຂບຄຖຈຽຍໃຘໆ GDP 2007/2008 2008/2009 2009/2010 2010/2011 2011/2012 Public Finance GDP

ຖາງປຍຄຍຎະຓາຌຖທຓຄເຄຌຆໆທງເນ ບຖ າ 17.43 17.31 22.29 22.24 24.16 Revenues and grants

ຖາງປຍຑາງໃຌ 14.56 14.89 15.73 16.30 17.67 Revenues

ເຄຌຆໆທງເນ ບຖ າ 2.87 2.42 6.56 5.94 6.49 Grants

ຖທຓງບຈຖາງໆາງ ແຖະ ໃນ ກ ດຓຘຈ 20.50 20.67 24.58 24.18 25.62 Total expenditures and net lending

ຖາງໆາງຍ ຖນາຌໆ ທໄຎ 12.27 13.63 12.76 12.66 13.31 Current expenditures

ຖາງໆາງຖຄຌ ແຖະ ໃນ ກ ດຓຘຈ 8.24 7.04 11.82 11.52 12.31 Capital and On-lending net

ຈໆຌຈໆຽຄຖທຓ -3.07 -3.36 -2.29 -1.94 -1.46 Overall Cash Balance

ຈໆຌຈໆຽຄຖທຓ ໆ ຍ ໆ ຌຍເຄຌຆໆທງເນ ບຖ າ -5.94 -5.78 -8.85 -7.88 -7.95 Overall Cash Balance (Excl grants)

ຂະແໜຄເຄຌຉາ 2008 2009 2010 2011 2012 Monetary Sector

ບຈຉາກາຌເຑໆ ຓຂ ຌຂບຄຎະຖຓາຌເຄຌ າງຎ 18.31 31.23 39.13 25.20 31.05 Annual growth rate of Money Supply M2

ຂະແໜຄກາຌເຄຌຉໆາຄຎະເຈຽຍໃຘໆ GDP 2008 2009 2010 2011 2012 External Sector /GDP

ຈຌກາຌຆ າຖະກຍຉໆາຄຎະເຈ 1.90 1.36 1.50 -0.71 0.67 Overall Balance

ຈຌກາຌຆ າຖະເຄຌຎກກະຉ (ຖທຓຄເຄຌໂບຌາຄກາຌ) 1.71 -1.09 0.43 1.96 2.30

Current Account Balance (Including Official Transfers)

ຈຌກາຌຆ າຖະເຄຌຎກກະຉ (ຍ ໆ ຖທຓເຄຌໂບຌຂບຄາຄກາຌ) 0.25 -2.84 -1.16 0.11 0.44

Current Account Balance

(Excluding Official Transfers)

ຓ ຌໆາກາຌ າ 47.21 45.01 55.62 56.99 52.14 Foreign Trade Volume

ຈຌກາຌ າ -5.89 -7.31 -4.59 -2.66 -2.18 Trade Balance

ຈຌຍຌຆຌ ແຖະ ກາຌເຄຌ 8.14 11.54 5.87 7.94 6.85 Capital and Financial Accounts

ງບຈໜຘຌຉໆາຄຎະເຈ 48.73 48.24 41.04 36.52 33.43 Stock of External Debts

ຉາຉະຖາຄ 1: ຉທເຖກຆ ຍບກເຘຈຊະກຈໆ ຘ າຌຂບຄ ຘຎຎ ຖາທ Table 1: Selected Key Economic Indicators of the Lao PDR

(ເຎເຆຌ/in percent)

ແນ ໆ ຄຂ ຓ ຌ: ກຓຘະຊຉເຘຈຊະກຈ, ຘ ຌຘະຊຉແນໆຄຆາຈ Source: Department of Economic Statistics, Lao Statistics Bureau

ກະຆທຄແຏຌກາຌ ແຖະ ກາຌຖຄຌ Ministry of Planning and Investment

P: ຂ ຓ ຌເຍ ບຄຉ ຌ P: Prelimiary Data

(R) ຂ ຓ ຌໆ ຓກາຌຎຍຎຄໃໝໆ ແຉໆຎ 2008-2011 າກຎ ຓຍຈຖາງຄາຌເຘຈຊະກຈ ຎະ າຎ 2011 (R) Revised 2008-2011 data Form Annual Report 2011



ຖາງກາຌ 2008(R) 2009(R) 2010(R) 2011(R) 2012 (P) Items

ຖທຓງບຈຏະຖຈຉະຑຌຑາງໃຌຉາຓຖາາໃຌຎ 46,214.71 47,562.30 56,522.56 64,727.06 72,727.45 GDP at Market Price

ຖທຓງບຈຏະຖຈຉະຑຌຑາງໃຌຉາຓຖາາຄໆ ຎ 2002 27,099.19 29,132.16 31,500.91 34,033.74 36,731.46 GDP at Constant Price year 2002

ຖທຓງບຈຏະຖຈຉະຑຌຑາງໃຌຉ ໆ ນທຌ(ໂຈຖາຘະນະຖຈ) 719 907 1,076 1,263 1,396 GDP Per capita (US$)

ບຈຉາກາຌຂະນງາງຉທເຘຈຊະກຈ (%) 7.78 7.50 8.13 8.04 7.93 GDP Growth Rate (%)

ກະຘກ າ 8,782.58 9,031.18 9,318.87 9,566.57 9,879.54 Agriculture

ກາຌຎ ກຐຄ ແຖະ ຖ ຽຄຘຈ 6,620.66 7,117.32 7,359.12 7,720.84 8,121.29 Agriculture and lives stock

ຎໆາໄຓ 1,216.27 930.45 897.88 729.25 586.63 Forestry

ກາຌຎະຓຄ 945.65 983.41 1,061.87 1,116.48 1,171.62 Fishing

ບຈຘານະກ າ 5,857.41 6,939.64 8,153.27 9,345.24 10,411.10 Industry

ຍ ໆ ແປໆ ແຖະ ກາຌຂຈ ຌ 1,341.45 2,003.14 2,254.71 2,371.14 2,563.19 Mining and Quarrying

ບຈຘານະກ າກາຌຎຄແຉໆຄ 2,600.75 2,777.60 2,972.04 3,261.14 3,735.28 Manufacturing

ບຈຘານະກ າໄຒຒາ ແຖະ ຌ າຎະຎາ 841.94 779.75 1,271.54 1,646.98 1,651.02 Electricity and Water

ກາຌກ ໆ ຘ າຄ 1,073.27 1,379.15 1,654.98 2,065.98 2,461.62 Construction

ກາຌຍ ຖກາຌ 10,577.62 11,213.92 11,993.72 12,959.83 14,155.80 Services

ກາຌ າຂາງງກ ຂາງງໆບງ ແຖະ ຘ ບຓແຎຄ 5,320.26 5,682.03 6,051.37 6,575.52 7,255.83 Wholesale and Retail Trade, Repairs

ໂປຄແປຓ ແຖະ ປ າຌບານາຌ 187.88 201.22 213.49 243.02 263.31 Hotels and Restaurants

ກາຌຂຌຘໆ ຄ, ຘາຄ, ໄຎຘະຌ ແຖະ ໂຖະຓຓະຌາຓ 1,332.76 1,406.06 1,500.27 1,628.13 1,730.26 Transport and Community

ກາຌຍ ຖກາຌຈ າຌກາຌເຄຌ 908.07 986.16 1,074.91 1,206.69 1,350.60 Financial Intermediation

ກາຌເຆໆ າຆ ແຖະ ກາຌຍ ຖກາຌຖະກຈ 887.24 909.42 940.95 1,015.78 1,097.05 Real Estate and Business Services

ກາຌຍ ຖກາຌຓທຌຆຌ, ຘຄຓ ແຖະ ຘໆທຌຍກຌ 468.44 497.60 528.49 568.31 596.73 Community, Social and Personal Services

ກາຌທໆາ າຄຑາງໃຌທເປບຌ 194.58 209.18 219.64 231.23 244.27 Private Households with Employed Persons

ກາຌຍ ຖກາຌຂບຄຑາກຖຈ 1,863.62 2,113.77 2,387.31 2,528.69 2,766.78 Producers of Government Services

ຘໆ ກາຄກາຌຍ ຖກາຌຈ າຌກາຌເຄຌ (ທຈແກາຄບ ບຓ) -585.23 -791.52 -922.71 -1,037.54 -1,149.04 Financial Intermediation Services Indirectly

Measured

ຖທຓງບຈຓ ຌເຑໆ ຓຄໝຈກຂະແໜຄກາຌ 25,217.61 27,184.74 29,465.86 31,871.64 34,446.44 All Industries at Basic Prices

ບາກບຌຏະຖຈຉະຑຌ ແຖະ ຑາຘຂາເຂ າ, ຘຈ 1,881.57 1,947.42 2,035.06 2,162.09 2, 285.02 Tax on Products and Import Duties, Net

ຘກຎຄຍຎະຓາຌ 2007/2008 2008/2009 2009/2010 2010/2011 2011/2012(P) Fiscal year

ຖທຓງບຈຏະຖຈຉະຑຌ ຑາງໃຌຉາຓຖາາໃຌຎ 44,211.90 47,225.30 54,282.59 62,457.80 70,343.00 GDP at Market Price

ຉາຉະຖາຄ 2: ຖທຓງບຈຏະຖຈຉະຑຌຑາງໃຌ ຈໄຖໆຉາຓຓ ຌໆາເຑໆ ຓ Table 2: Gross Domestic Product by Value Added

(ຉ ກຍ/Billion Kip)

ໝາງເນຈ: P ໝາງເຊຄຉທເຖກເຍ ບຄຉ ຌ Note: P is Prelimiary


ກະຆທຄແຏຌກາຌ ແຖະ ກາຌຖຄຌ Ministry of Planning and Investment (R) ຂ ຓ ຌໆ ຓກາຌຎຍຎຄໃໝໆ ແຉໆຎ 2008-2011 າກຎ ຓຍຈຖາງຄາຌເຘຈຊະກຈ ຎະ າຎ 2011 (R) Revised 2008-2011 data Form Annual Report 2011



ໜທຈຘຌ າ 2011(R) 2012 Category

ຈຈຆະຌຖາາຏ ຆຓໃຆ ຖທຓ 105.96 110.48 All Consumer Price Index (CPI)

ຈຈຆະຌແຉໆຖະໝທຈຘຌ າ

CPI Components

1. ໝທຈຘະຍຽຄບານາຌ ແຖະ ເໆ ບຄຈໆ ຓໆ ຍ ໆ ແຓໆຌເນ າ 108.80 114.89 1. Food and non-alcoholic beverages

2. ໝທຈເນ າ ແຖະ ດາຘ ຍ 101.04 105.29 2. Alcoholic beverages and tobacco

3. ໝທຈເໆ ບຄຌໆຄນໆ ຓ ແຖະ ເກຍ 102.26 104.37 3. Clothing and footwear

4. ໝທຈໆ ຑກບາໃຘ, ຌ າຎະຎາ, ໄຒຒາ ແຖະ ເຆ ບຄເຑຄ 103.51 114.50 4. Housing, water, electricity and fuels

5. ໝທຈເໆ ບຄໃຆ ໃຌເປບຌ 101.72 104.17 5. Household goods

6. ໝທຈກາຌປກຘາຘຂະຑາຍ 100.44 101.62 6. Health

7. ໝທຈຓຓະຌາຓ ແຖະ ກາຌຂຌຘໆ ຄ 107.63 110.51 7. Transport

8. ໝທຈໄຎຘະຌ ແຖະ ໂຖະຓຓະຌາຓ 103.74 105.09 8. Communication

9. ໝທຈກາຌຍຌເຄ ແຖະ ກາຌຑກຏໆບຌ 100.82 102.21 9. Recreation and culture

10. ໝທຈກາຌຘກຘາ 98.65 99.90 10. Education

11. ໝທຈປາຌບານາຌ ແຖະ ໂປຄແປຓ 105.04 113.51 11. Restaurants & hotels

12. ໝທຈຘຌ າ ແຖະ ກາຌຍ ຖກາຌບໆ ຌ 103.32 105.62 12. Miscellaneous goods and services

ຉາຉະຖາຄ 3: ຈຈຆະຌຖາາຏ ຆຓໃຆ (ຽຍຊາຌ ເຈບຌ 12/2010=100) Table 3: Consumer Price Index (12/2010=100)





-

ໜທຈຘຌ າ 2011 2012 Category

ບຈຉາເຄຌເຒຘະເຖໆງ(%∆ຎຉ ໆ ຎ) 7.58 4.26 Inflation rate (%∆YOY)

1. ໝທຈຘະຍຽຄບານາຌ ແຖະ ເໆ ບຄຈໆ ຓຍ ໆ ແຓໆຌເນ າ 11.03 5.60 1. Food And non-alcoholic beverages

2. ໝທຈເນ າ ແຖະ ດາຘ ຍ 3.21 3.19 2. Alcoholic beverages and tobacco

3. ໝທຈເໆ ບຄຌໆຄນໆ ຓ ແຖະ ເກຍ 3.33 2.06 3. Clothing and footwear

4. ໝທຈໆ ຑກບາໃຘ, ຌ າຎະຎາ, ໄຒຒາ ແຖະ ເຆໆ ບເຑຄ 6.37 10.62 4. Housing, water, electricity and fuels

5. ໝທຈເໆ ບຄໃຆ ໃຌເປບຌ 3.10 2.41 5. Household Goods

6. ໝທຈກາຌປກຘາຘຂະຑາຍ 1.12 1.18 6. Health

7. ໝທຈຓຓະຌາຓ ແຖະ ກາຌຂຌຘໆ ຄ 9.02 2.68 7. Transport

8. ໝທຈໄຎຘະຌ ແຖະ ໂຖະຓຓະຌາຓ 4.50 1.30 8. Communications

9. ໝທຈກາຌຍຌເຄ ແຖະ ກາຌຑກຏໆບຌ 1.48 1.37 9. Recreation and culture

10. ໝທຈກາຌຘກຘາ -0.80 1.26 10. Education

11. ໝທຈປາຌບານາຌ ແຖະ ໂປຄແປຓ 5.27 8.06 11. Restaurants & hotels

12. ໝທຈຘຌ າ ແຖະ ກາຌຍ ຖກາຌບໆ ຌ 4.67 2.23 12. Miscellaneous goods and services

ຉາຉະຖາຄ 4: ບຈຉາເຄຌເຒຘະເຖໆງ(ຽຍຊາຌ ເຈບຌ 12/2010=100) Table 4: Inflation Rate Average (12/2010=100)





ຖາງກາຌ 2007/08(R) 2008/09(R) 2009/10(R) 2010/11(R) 2011/12(P) Items

ຖາງປຍຖທຓຄເຄຌຆໆທງເນ ບຖ າ 7,708.31 8,173.61 12,100.37 13,890.07 16,992.40 Revenues and Grants

ຖາງປຍຑາງໃຌ 6,439.14 7,030.43 8,538.38 10,181.27 12,427.75 Revenues

ຖາງປຍຑາຘບາກບຌ 5,627.10 6,207.58 7,502.55 9,108.64 10,914.85 Tax Revenues

ຖາງປຍຍ ໆ ແຓໆຌຑາຘບາກບຌ 812.04 822.85 1,035.82 1,072.63 1,512.90 Non-tax Revenues

ເຄຌຆໆທງເນ ບຖ າ 1,269.18 1,143.18 3,562.00 3,708.80 4,564.65 Grants

ເຄຌຆໆທງເນ ບຖ າໂຄກາຌ 614.43 632.27 879.09 1,152.33 1,191.91 Project Grants

ເຄຌຆໆທງເນ ບຖ າຍ ໆ ແຓໆຌໂຄກາຌ 574.60 - 2,320.44 2,249.95 2,998.63 Non-Project Grants (Donors)

ເຄຌຆໆທງເນ ບຖ າຍ ໆ ແຓໆຌໂຄກາຌ (ດໆຎໆຌ) - 75.00 - 70.00 34.00 Non-Project Grants (Japan)

ເຄຌຆໆທງເນ ບຖ າໂຄກາຌ ຈຈແກ ຓະນາຑາກ 80.14 435.91 362.47 236.53 340.12 Program Grants

ຖທຓງບຈຖາງໆາງ ແຖະ ໃນ ກ ດຓຘຈ 9,065.66 9,761.56 13,342.41 15,102.90 18,021.03 Expenditures and Net Lending

ຖາງໆາງຍ ຖນາຌໆ ທໄຎ 5,423.62 6,437.13 6,928.71 7,905.76 9,364.89 Current Expenditures

ເຄຌເຈບຌ ແຖະ ເຄຌບຈໜ ຌຉໆາຄ 2,082.18 2,588.32 2,688.24 2,940.28 3,560.20 Wages & Salaries

ເຄຌໂບຌ 932.92 1,302.79 1,546.41 1,866.00 2,014.85 Transfers

ທຈຊ ແຖະ ບຎະກບຌ 903.93 1,035.05 1,190.65 1,438.28 1,746.79 Materials & Supplies

ຖາງໆາງຆ າຖະໜ 500.00 500.00 668.19 656.95 598.75 Debt Payment

ຈບງເຍ ງເຄຌກ 361.38 263.77 397.81 446.51 590.95 Interest Payment

ຉໆາຄຎະເຈ 291.38 205.47 318.29 373.00 473.49 External

ຑາງໃຌຎະເຈ 70.00 58.30 79.52 73.51 117.46 Domestic

ບໆ ຌ 289.93 716.67 437.41 357.94 400.05 Others

ຖາງໆາງຌບກແຏຌ 353.29 30.53 - 199.81 453.30 Expenditure for revenue

exceeding plan

ຖາງໆາງຖຄຌ 3,642.03 3,324.43 6,413.70 7,197.14 8,656.15 Capital Expenditure

ແນ ໆ ຄຌຑາງໃຌ 688.00 1,137.83 1,717.64 1,838.06 2,652.82 Local Finances

ແນ ໆ ຄຌຉໆາຄຎະເຈ 2,954.03 2,186.60 4,696.06 5,359.08 6,003.33 Foreign Finance

ເຄຌກ ດຓໂຄກາຌ 1,765.00 1,554.34 1,496.53 1,956.81 1,812.79 Project Loan

ເຄຌຆໆທງເນ ບໂຄກາຌ 614.43 632.26 879.09 1,152.33 1,191.91 Project Grant

ເຄຌຆໆທງເນ ບຖ າຍ ໆ ແຓໆຌໂຄກາຌ 574.60 - 2,320.44 2,249.95 2,998.63 Non-Project Grant

ຈໆຌຈໆຽຄ 1,015.52 593.30 1,609.67 2,275.51 3,062.87 Current Cash Balance

ຈໆຌຈໆຽຄເຄຌຘຈຖທຓ -1,357.34 -1,587.95 -1,242.04 -1,212.83 -1,028.63 Overall Cash Balance

ຍ ໆ ຖທຓຌຆໆທງເນ ບຖ າ -2,626.52 -2,731.13 -4,804.03 -4,921.63 -5,593.28 (Excluding Grants)

ຖາງປຍເຑໆ ບຈໆຌຈໆຽຄ 1,357.34 1,587.95 1,242.04 1,212.83 1,028.63 Financing

ແນ ໆ ຄຌຑາງໃຌ -150.10 400.98 63.50 -200.46 -155.23 Domestic Financing

ຖະຍຍະຌາາຌ -786.00 402.20 -193.01 -457.65 1,534.91 Bank Financing

(ຘຌເຆໆ ບ) ຖະຍຍະຌາາຌ -582.00 534.47 -290.01 -517.65 1,854.43 Bank financing credit

( າໜໆາງ) ຑຌະຍຈ 50.00 80.00 200.00 260.00 - Treasury Bills Issued

(ໄຊໆຊບຌ) ຑຌະຍຈ -254.00 -212.27 -103.00 -200.00 -319.52 Treasury Bills Repayment

ຍ ໆ ແຓໆຌຖະຍຍະຌາາຌ 635.90 -1.22 256.51 257.19 -1,690.14 Non-Bank Financing

( າໜໆາງ) ຑຌະຍຈ - - - - - Treasury Bills (Issued)

(ໄຊໆຊບຌ) ຑຌະຍຈ - - - - - Treasury Bills (Repament)

ຂາງຆຍຘຌ ແຖະ ປຍຌຉ ຌຌກຘ ຍຌ າ 34.27 48.75 277.32 268.91 91.26 Assets Sales+Pump Amortization

ຉາຉະຖາຄ 5: ຊາຌະກາຌເຄຌຂບຄຖຈ Table 5: Status of Government Budget





ງບຈເນ ບຏໆາຌຓາ 642.12 647.20 417.76 687.52 - Previous Year Balance Sheet

ຏຈຈໆຽຄ -40.49 -697.17 -438.57 -699.24 -1,781.39 Differences

ແນ ໆ ຄຌຉໆາຄຎະເຈ(ຘຈ) 1,507.44 1,186.97 1,178.54 1,413.29 1,183.86 Foreign Financing (Net)

ເຄຌກ ດຓຈຈແກ ຓະນາຑາກ - - - - - Program Loans

ເຄຌກ ດຓໂຄກາຌ 1,765.00 1,554.34 1,496.53 1,956.81 1,812.79 Project Loans

ຖາງໆາງຆ າຖະຉ ຌຌເຄຌກ ດຓ -401.62 -510.21 -542.34 -694.51 -774.50 Amortization(Repayment)

ຖາງໆາງຆ າຖະໜຍ ໆ ແຓໆຌໂຄກາຌ ງໆ ຎໆຌ - - 85.00 - -34.00 Non-Program Grants (Japan)

ໃນ ກ ດຓຉ ໆ ຘຈຌ 144.06 142.84 139.35 150.99 179.57 On-Lending Net


ແນ ໆ ຄຂ ຓ ຌ: ກະຆທຄກາຌເຄຌ Source: Ministry of Finance (R) ຂ ຓ ຌໆ ຓກາຌຎຍຎຄໃໝໆ ແຉໆຎ 2008-2011 າກຎ ຓຍຈຖາງຄາຌເຘຈຊະກຈ ຎະ າຎ 2011 (R) Revised 2008-2011 data Form Annual Report 2011



ຖາງກາຌ 2007/08(R) 2008/09(R) 2009/10(R) 2010/11(R) 2011/12(P) Items

1. ຖາງປຍຑາຘ-ບາກບຌ 5,627.10 6,207.58 7,502.55 9,108.64 10,914.85 1. Tax Revenues

ບາກບຌກ າໄຖ 1,321.60 1,302.97 1,124.90 1,592.15 2,196.03 Profits Tax

ບາກບຌຖາງໄຈ 333.07 424.68 462.39 543.46 744.20 Income Tax

ບາກບຌໆ ຈຌ 77.95 63.91 77.57 98.15 55.15 Land Tax

ໆາ າຌຽຓບາກບຌ 2.52 3.68 2.46 0,01 - Business Licenses

ບາກບຌຉ ໆ າຘຈ 21.50 29.24 33.28 41.61 49.56 Minimum Tax

ບາກບຌຉທເຖກຖະກຈ 1,228.52 1,401.04 1,868.68 510.04 410.81 Turnover Tax

ບາກບຌຓ ຌໆາເຑໆ ຓ - - - 1,893.10 2,416.21 VAT

ບາກບຌຆຓໃຆ 1,190.01 1,432.49 1,686.70 1,947.59 2,344.31 Excise Tax

ຑາຘຂາເຂ າ 674.18 726.22 832.04 964.63 1,047.33 Import Duties

ຑາຘຂາບບກ 22.27 48.84 58.81 115.08 105.07 Export Duties

ໆາ າຌຽຓຖຄະຍຽຌ 13.93 26.69 44.61 55.47 45.97 Registration Fees

ໆາ າຌຽຓບໆ ຌ 263.42 372.65 702.00 532.41 537.40 Other Fees

ບາກບຌຆຍຘຌ 316.52 219.48 450.55 526.89 705.72 Natural Resources Taxes

ໆາຑາກນ ທຄໄຓ 105.20 78.05 49.29 92.74 78.60 Timber Royalty Receipts

ໆາຑາກນ ທຄໄຒຒາ 56.40 77.66 109.27 195.32 178.49 Hydropower Royalties

2. ຖາງປຍໆ ຍ ໆ ແຓໆຌຑາຘ-ບາກບຌ 812.04 822.85 1,035.82 1,076.63 1,512.90 2. Non-Tax Revenues

ໆາເຆໆ າ 27.22 41.08 38.03 29.82 80.78 Leasing Fees

ໆາຘ າຎະາຌ 17.93 30.66 37.60 31.02 55.53 Concessions

ໆາຎຍໄໝ 31.41 25.25 29.76 43.27 39.77 Penalties (Fine)

ໆາ າຌຽຓຍ ຖນາຌ 100.88 76.03 122.54 98.92 189.63 Administration Fees

ເຄຌຎຌຏຌ ແຖະ ໆານ ງນ ຽຌ 293.34 338.35 419.00 507.43 763.95 Depreciation and Dividends

ຈບກເຍ ງ 105.28 94.66 147.21 97.69 100.97 Interest

ໆາຍຌຏໆາຌ 235.44 203.42 222.41 244.81 257.49 Over-Flight Revenues

ໆາ າຌຽຓຆຌຖະຎະາຌ - - 12.18 11.85 13.55 Irrigation fees

ໆາກາຌຘະນຄທຌຎໆາໄຓ 0.55 13.40 7.08 11.83 11.24 Forest Preservation Funds

ບໆ ຌ - - - - - Others

ຖາງປຍຑາຘ-ບາກບຌ ແຖະ ຍ ໆ ແຓໆຌຑາຘບາກບຌ 6,439.14 7,030.43 8,538.38 10,185.26 12,427.75 Total Tax and Non-Tax Revenues

ຂາງຆຍຘຌ 57.59 48.57 277.19 268.91 91.26 Assets Sales

ປຍຆ າຖະຌຉ ຌຌ 209.84 142.84 139.35 150.99 179.57 Amortization (Capital Return)

ປຍຆ າຖະຉ ຌຌກຆ ຍຌ າ 0.55 0.18 0.13 - - Pump Amortization

ຖາງປຍຄໝຈຖທຓກຍປຍຆ າຖະຉ ຌຌຌ 6,707.12 7,222.02 8,955.04 10,605.16 12,698.58 Total Revenue with Capital Return

ຉາຉະຖາຄ 6: ຖາງປຍຄຍຎະຓາຌ Table 6: Government Revenues



ແນ ໆ ຄຂ ຓ ຌ: ກະຆທຄກາຌເຄຌ Source: Ministry of Finance (R) ຂ ຓ ຌໆ ຓກາຌຎຍຎຄໃໝໆ ແຉໆຎ 2008-2011 າກຎ ຓຍຈຖາງຄາຌເຘຈຊະກຈ ຎະ າຎ 2011 (R) Revised 2008-2011 data Form Annual Report 2011



ຖາງກາຌ 2008(R) 2009(R) 2010(R) 2011(R) 2012(P) Items

ຆຍຘຌຉໆາຄຎະເຈຘຈ 5,225.71 4,555.35 5,151.10 4,771.64 5,254.82 Net Foreign Assets

ຆຍຘຌຉໆາຄຎະເຈຘຈ 5,412.47 5,367.51 5,868.32 5,434.77 5,891.97 Foreign Assets

ໜຘຌຉໆາຄຎະເຈຘຈ -186.76 -812.16 -717.22 -663.13 -637.15 Foreign Liabilities

ຆຍຘຌຑາງໃຌຘຈ -449.58 1,880.29 4,409.39 6,341.14 8,877.74 Net Domestic Assets

ຘຌເຆໆ ບຑາງໃຌ 164.96 2,669.54 4,561.07 7,511.81 9,236.34 Domestic Credits

ຘຌເຆໆ ບໃນ ຖຈຊະຍາຌຘຈ -1,057.20 -815.20 -741.57 -652.78 630.00 Net Claims on Govt

ຘຌເຆໆ ບໃນ ຖຈຊະຍາຌ 972.85 925.09 925.63 688.29 1,228.26 Claims on Govt

ເຄຌຐາກຖຈຊະຍາຌ -2,030.05 -1,740.29 -1,667.20 -1,341.07 -598.26 Deposits of Govt

ຘຌເຆໆ ບຑາກຘໆທຌເຘຈຊະກຈ 685.07 2,312.23 3,367.06 4,996.89 4,959.16 Credits to the Economy

ຘຌເຆໆ ບໃນ ຘະຊາຍຌກາຌເຄຌ 537.09 1,172.51 1,935.58 3,167.70 3,647.18 Credits to Banks

ຑຌະຍຈະຌາາຌກາຄ -222.52 -660.18 -1,023.30 -2,145.13 -1,786.36 BOL Securities

ຖາງກາຌບໆ ຌຘຈ -392.02 -129.07 871.62 974.46 1,427.76 Other Items (Net)

ຊາຌເຄຌຉາ 4,776.03 6,435.56 9,560.38 11,112.78 14,132.56 Monetary Base

ເຄຌຘຈດ ໆ ຂບຈ ຖະບຌ 2,508.25 3,579.58 4,504.52 5,661.18 7,168.83 Currency in Circulation

ເຄຌຐາກ 2,267.78 2,855.98 5,055.86 5,451.60 6,963.73 Deposits

ເຄຌຐາກຆ າຖະຘະຘາຄ 1,279.82 1,569.92 3,328.82 2,963.76 3,641.41 Clearing Deposits

ເຄຌແປຐາກຍຄຍ 618.71 792.96 1,023.37 1,514.73 1,778.16 Required Reserve

ຌຈະຍຽຌຂບຄ ກ 368.83 359.06 511.08 824.67 1,516.67 Capital Deposits

ເຄຌຐາກຂບຄຑາກຘໆທຌບໆ ຌ 0.42 134.04 192.59 148.44 27.49 Other Deposits

ຉາຉະຖາຄ 7: ຊາຌະກາຌເຄຌຂບຄະຌາາຌ ແນໆຄ ຘຎຎ ຖາທ Table 7: Balance Sheet of the BOL


ແນ ໆ ຄຂ ຓ ຌ: ະຌາາຌແນໆຄ ຘຎຎ ຖາທ Source: Bank of the Lao PDR





ຖາງກາຌ 12-2008(R) 12-2009(R) 12-2010(R) 12-2011(R) 12-2012(P) Items

ຆຍຘຌຉໆາຄຎະເຈຘຈ 7,363.61 5,499.85 6,280.00 5,710.94 5,878.72 Net Foreign Assets

ຆຍຘຌຉໆາຄຎະເຈ 9,433.47 8,139.11 10,324.72 11,476.87 12,954.47 Foreign Assets

ໜຘຌຉໆາຄຎະເຈ -2,069.86 -2,639.26 -4,044.72 -5,765.93 -7,075.75 Foreign Liabilities

ຆຍຘຌຑາງໃຌຘຈ 4,195.86 9,678.32 14,889.03 21,535.13 29,826.22 Net Domestic Assets

ຘຌເຆໆ ບຑາງໃຌ 5,203.37 10,516.13 16,055.99 22,892.91 32,556.66 Domestic Credits

ຘຌເຆໆ ບໃນ ຖຈຊະຍາຌຘຈ -643.40 -627.00 -480.77 -1,211.28 2,031.50 Net Claims on Govt.

ຘຌເຆໆ ບໃນ ຖຈຊະຍາຌ 1,654.15 1,667.39 1,974.23 1,516.19 3,563.96 Claims on Govt.

ເຄຌຐາກຖຈຊະຍາຌ -2,297.55 -2,294.39 -2,455.00 -2,727.47 -1,532.46 Deposits of Govt.

ຘຌເຆໆ ບໃນ ຑາກຘໆທຌເຘຈຊະກຈ 5,846.77 11,143.13 16,536.76 24,104.19 30,525.16 Credits to the Economy

ຘຌເຆໆ ບໃນ ຖຈທຘານະກຈ 1,290.77 2,578.53 3,824.86 6,391.49 6,591.56 Credits to State Enterprises

ຘຌເຆໆ ບໃນ ຑາກເບກະຆຌ 4,556.00 8,564.60 12,711.90 17,712.70 23,933.60 Credits to Private Sector

ຖາງກາຌບໆ ຌຘຈ -1,007.51 -837.81 -1,166.96 -1,357.78 -2,730.44 Other Items (Net)

ຌໆ ະຌາາຌກ າກຖຈຊະຍາຌ -183.13 -162.20 -136.96 -105.72 -82.47 Government Lending Fund

ເຄຌຐາກ າກຈ -52.00 -8.70 -8.40 -148.80 -279.00 Restricted Deposits

ຍຌຆຌ -1,926.23 -2,749.92 -4,621.38 -5,497.98 -7,617.80 Capital Account

ບໆ ຌ 1,153.85 2,083.01 3,599.78 4,394.72 5,248.83 Others

ຎະຖຓາຌເຄຌຉາຓທາຓໝາງກທ າຄ 11,557.37 15,178.09 21,168.82 27,246.07 35,704.94 Broad Money

ຎະຖຓາຌເຄຌທາຓໝາງແຍ 3,710.87 4,790.49 6,260.92 7,169.27 8,343.54 Money

ເຄຌດ ໆ ຌບກຖະຍຍະຌາາຌ 2,218.75 3,085.78 3,799.92 4,843.88 6,019.73 Currency Outside Banks

ເຄຌຐາກກະແຘຖາງທຌ 1,492.12 1,704.71 2,461.00 2,325.39 2,323.81 Demand Deposits

ຎະຖຓາຌເຄຌຎະເຑຈບໆ ຌ 7,848.50 10,387.60 14,907.90 20,076.80 27,361.40 Quasi Money

ເຄຌຐາກຎະດຈ ແຖະ ຐາກຓກ າຌຈ 2,025.00 3,395.50 5,594.90 8,127.40 12,192.70 Time and Saving Deposits

ເຄຌຐາກເຎຌເຄຌຉາຉໆາຄຎະເຈ 5,823.50 6,992.10 9,313.00 11,949.40 15,168.70 Foreign Currency Deposits

ຉາຉະຖາຄ 8: ຊາຌະກາຌເຄຌຂບຄຖະຍຍະຌາາຌ Table 8: Monetary Survey






ຖາງກາຌ 12-2008(R) 12-2009 12-2010 12-2011 12-2012(P) Items

I. ະຌາາຌ ແນໆຄ ຘຎຎ ຖາທ I. Bank of The Lao PDR

ຈບກເຍ ງເຄຌກ 7.00 4.00 5.00 5.00 5.00 Bank Rate

ຑຌະຍຈ ນຖ ( 1 ຎ) BOL Securities (1 year )

ກຍ 6.00-7.00 6.00-7.00 6.5-7.00 6.5-7.00 6.5-7.00 Kip

ໂຈຖາ 3.00 - 3.50 3.00 - 3.50 3.00-3.75 3.00-3.75 3.00-3.75 US Dollar

II. ະຌາາຌຖະກຈ II. Commercial Banks

1. ບຈຉາຈບກເຍ ງເຄຌຐາກ 1. Deposits Rates

ຍຌຆເຄຌກຍ Kip Account

ເຄຌຐາກກະແຘຖາງທຌ nil nil nil nil nil Current Account Deposits

ເຄຌຐາກຎະດຈ 2.50-5.00 2.50-5.00 2.50-4.50 2.00-4.50 2.00-4.50 Saving Deposits

ເຄຌຐາກຓກ າຌຈ Time Deposits

3 ເຈບຌ 4.00-9.00 3.00-8.00 3.00-8.00 3.00-8.00 3.00-6.50 3 Months

6 ເຈບຌ 5.00-11.00 4.00-10.00 4.00-10.00 4.00-10.00 4.00-8.00 6 Months

12 ເຈບຌ 7.00-13.00 5.00-12.00 5.00-12.00 5.00-12.00 5.00-10.25 12 Months

>12 ເຈບຌ 8.00-12.00 8.00-12.00 8.00-12.00 7.50-12.50 7.50-11.25 > 12Months

ຍຌຆເຄຌຍາຈ Thai Baht Account




3 ເຈບຌ 0.75-1.60 0.75-3.50 0.75-3.50 0.75-4.00 0.75-3.47 3 Months

6 ເຈບຌ 0.75-3.00 0.75-6.50 0.75-6.50 0.75-6.50 0.75-4.11 6 Months

12 ເຈບຌ 0.75-3.00 0.75-5.50 0.75-5.50 0.75-5.50 0.75-6.00 12 Months

>12 ເຈບຌ 2.25-2.85 2.70-5.00 2.70-5.00 3.00-5.50 3.00-10.00 >12 Months

ຍຌຆເຄຌໂຈຖາ US Dollar Account




3 ເຈບຌ 0.75-1.75 0.50-4.00 0.50-4.00 0.50-4.00 0.50-4.00 3 Months

6 ເຈບຌ 1.25-2.75 0.75-5.00 0.75-50 0.75-5.00 0.75-5.00 6 Months

12 ເຈບຌ 1.50-3.25 1.00-6.00 1.00-6.00 1.00-6.00 1.00-7.00 12 Months

>12 ເຈບຌ 2.25-2.85 1.25-5.00 1.25-5.00 1.25-6.50 1.25-7.50 > 12 Months

ຉາຉະຖາຄ 9: ບຈຉາຈບກເຍ ງ Table 9: Interest Rates

(ເຎເຆຌຉ ໆ ຎ/ In Percent per Annum)




2. ບຈຉາຈບກເຍ ງເຄຌກ 2. Lending Rates

ຍຌຆເຄຌກຍ Kip Accounts

ຎະເຑຈຖ ກ າ A (ໄຖງະ 1 ຎ) 11.00-24.00 9.00-26.55 8.00-22.00 8.00-21.00 8.00-19.50 Customer A (1year)

ຎະເຑຈຖ ກ າ B (ໄຖງະ 1 ຎ) 12.00-13.00 10.00-14.00 9.00-14.00 9.00-18.00 9.00-15.00 Customer B (1year)

ຎະເຑຈຖ ກ າ C (ໄຖງະ 1 ຎ) 14.00-16.00 11.00-15.00 10.00-15.00 10.00-18.00 10.00-15.00 Customer C (1year)

ຍຌຆເຄຌຍາຈ Thai Baht Accounts




ຍຌຆເຄຌໂຈຖາ US Dollar Accounts




ເຄຌເຍກເກຌຍຌຆ Overdraft

ກຍ 15.00-24.00 9.75-20.00 9.75-20.00 15.00-18.00 9.75-19.50 Kip

ຍາຈ 7.00-18.00 7.00-16.00 7.00-16.00 10.00-16.00 7.00-17.00 Baht

ໂຈຖາ 6.00-14.00 6.00-14.00 6.00-14.00 10.00-14.00 6.00-16.00 US Dollar


P: ຂ ຓ ຌເຍ ບຄຉ ຌ P: Prelimiary Data (R) ຂ ຓ ຌໆ ຓກາຌຎຍຎຄໃໝໆ ແຉໆຎ 2008-2011 າກຎ ຓຍຈຖາງຄາຌເຘຈຊະກຈ ຎະ າຎ 2011 (R) Revised 2008-2011 data Form Annual Report 2011



ຉາຉະຖາຄ 10: ເຄຌຐາກຂບຄະຌາາຌຖະກຈ Table 10: Commercial banks’ Deposits

(ຉ ກຍ/ Billion Kip)

ຖາງກາຌ/Items 2010(R) 2011(R) 2012(P)

ກຍ ຄຉຉ ຽຍກຍ ຖທຓ ກຍ ຄຉຉ ຽຍກຍ ຖທຓ ກຍ ຄຉຉ ຽຍກຍ ຖທຓ

Kip FOREX in Kip Total Kip FOREX in Kip Total Kip FOREX in Kip Total

ເຄຌຐາກຖທຓ/Total Deposits 8,051.82 9,313.06 17,364.88 10,441.81 11,949.39 22,391.20 14,515.51 15,168.70 29,684.21

ເຄຌຐາກກະແຘຖາງທຌ/Current Account Deposits 2,456.89 2,359.89 4,816.78 2,314.38 3,265.36 5,579.74 2,322.90 3,899.28 6,222.18

ເຄຌຐາກຎະດຈ/Savings 1,673.83 4,368.07 6,041.90 2,270.34 5,238.12 7,508.46 3,251.84 5,974.87 9,226.71

ເຄຌຐາກຓກ າຌຈ/Term Deposits 3,921.10 2,585.10 6,506.20 5,857.09 3,445.91 9,303.00 8,940.77 5,294.55 14,235.32

3 ເຈບຌ/ 3 Months 1,293.96 853.08 2,147.04 1,581.41 930.40 2,511.81 2,503.42 1,482.47 3,985.89

6 ເຈບຌ/ 6 Months 1,097.91 7,223.83 1,821.74 1,405.70 827.02 2,232.72 1,966.96 1,111.86 3,078.82

12 ເຈບຌ/ 12 Months 901.85 594.57 1,496.42 1,815.70 1,068.23 2,883.93 2,861.05 1,694.26 4,555.31

> 12 ເຈບຌ; < 24 ເຈບຌ/ > 12 M ; < 24 M 627.38 413.62 1,041.00 1,054.28 620.26 1,674.54 1,609.34 1,005.96 2,615.30

ເຄຌຐາກຂບຄຏ ໆ ຍ ໆ ຉ ຄດ ໆ ຖາທ/ Non-Resident Deposits 621.28 729.32 1,350.60 934.65 1,142.35 2,077.00 947.58 1,068.55 2,016.13

ເຄຌຐາກບໆ ຌ/Others Deposits 8.40 - 8.40 148.80 - 148.80 278.97 - 278.97





ຖາງກາຌ ຘຌເຆໆ ບແງກເຎຌຂະແໜຄກາຌ 2008(R) 2009(R) 2010(R) 2011(R) 2012(P) Credit by Sectors

ຂະແໜຄບຈຘານະກ າ ແຖະ ນຈຊະກ າ 1,001.37 1,633.72 2,462.73 3,802.35 4,090.56 Credits for Industry and Handicraft

ຂະແໜຄກ ໆ ຘ າຄ 206.47 353.24 1,619.87 2,407.52 4,601.88 Credits for Constructions

ຂະແໜຄຘະໜບຄທຈຊ ແຖະ ເຉກຌກ 438.74 679.98 632.15 764.29 1,022.64 Credits for Materials and Technical Supplies

ຂະແໜຄກະຘກ າ 671.02 1,192.17 2,067.64 2,560.38 2,045.28 Credits for Agricultures

ຂະແໜຄກາຌ າ 1,335.88 2,075.26 3,081.71 4,068.85 6,135.84 Credits for Commerce

ຂະແໜຄຂຌຘໆ ຄ 144.53 247.27 513.62 726.08 1,022.64 Credits for Transportations

ຂະແໜຄຍ ຖກາຌ 500.68 732.95 1,659.38 3,229.13 4,090.56 Credits for Services

ຂະແໜຄບໆ ຌ 862.00 1,916.31 1,132.59 1,547.70 2,556.60 Credits for Other Activities

ຖທຓງບຈຘຌເຆໆ ບ 5,161.69 8,830.90 13,169.69 19,106.30 25,566.00 Total Credit Outstanding

ບຈຉາຂະນງາງຉທຂບຄຘຌເຆໆ ບ (%) (ເຎເຆຌກາຌຎໆຽຌແຎຄ /In Percent change) Credits Growth (%)

ຂະແໜຄບຈຘານະກ າ ແຖະ ນຈຊະກ າ 49.59 63.15 50.74 54.40 7.58 Credits for Industry and Handicraft

ຂະແໜຄກ ໆ ຘ າຄ 67.77 71.09 358.57 48.62 91.15 Credits for Constructions

ຂະແໜຄຘະໜບຄທຈຊ ແຖະ ເຉກຌກ 85.01 54.98 -7.03 20.90 33.80 Credits for Materials and Technical Supplies

ຂະແໜຄກະຘກ າ 172.61 77.67 73.43 23.83 -20.12 Credits for Agricultures

ຂະແໜຄກາຌ າ 51.48 55.23 48.50 32.06 50.76 Credits for Commerce

ຂະແໜຄຂຌຘໆ ຄ 434.90 71.09 107.72 41.37 40.84 Credits for Transportations

ຂະແໜຄຍ ຖກາຌ 113.84 46.39 126.40 94.60 26.68 Credits for Services

ຂະແໜຄບໆ ຌ 48.02 122.31 -40.90 36.65 65.19 Credits for Other Activities

ຖທຓຘຌເຆໆ ບຄໝຈ 71.95 71.09 49.13 45.09 33.80 Total Credits Outstanding

ງບຈຘຌເຆໆ ບຖທຓຽຍໃຘໆ GDP 11.17 18.57 23.30 29.52 35.15 Total Credits in Percent of GDP

ຉາຉະຖາຄ 11: ຘຌເຆໆ ບຂບຄະຌາາຌຖະກຈ Table 11: Commercial banks’Credits

(ຉ ກຍ/ Billion Kip)






ຈຌກາຌຆ າຖະເຄຌຎກກະຉ 90.33 -60.91 29.27 158.14 208.75 Current Account Balance

(ຍ ໆ ຖທຓເຄຌໂບຌຂບຄຑາກຖຈຊະຍາຌ) 13.22 -158.43 -79.35 8.92 39.58 (Excluding Official Transfers)


ຓ ຌໆາຘຌ າຘໆ ຄບບກ 1,091.90 1,052.70 1,746.40 2,189.55 2,269.03 Exports (f.o.b.)

ຓ ຌໆາຘຌ າຌ າເຂ າ -1,403.20 -1,461.10 -2,060.40 -2,404.19 -2,467.11 Imports (c.i.f.)

ກາຌຍ ຖກາຌຘຈ 306.36 261.63 247.87 228.02 236.05 Services (net)

ຖາງປຍ 414.27 397.26 510.99 549.66 577.22 Services Receipts

ຖາງໆາງ -107.91 -135.63 -263.12 -321.64 -341.17 Services Payments

ຖາງປຍຘຈ -45.64 -47.03 -83.17 -78.01 -81.20 Factor Income (net)

ຖາງປຍ 32.07 41.73 50.29 48.33 69.15 Income Receipts

ຖາງໆາງ -77.71 -88.76 -133.46 -126.34 -150.35 Income Payments

ເຄຌໂບຌຘຈ 140.87 132.89 178.63 222.77 251.98 Transfers (Net)

ຑາກເບກະຆຌ 63.76 35.36 70.01 73.55 82.81 Private

ຑາກຖຈຊະຍາຌ 77.11 97.53 108.62 149.22 169.17 Official

ຈຌຍຌຆຌ ແຖະ ກາຌເຄຌ 430.38 644.43 401.94 639.65 622.09 Capital and Financial Account

ຍຌຆກາຌເຄຌ 430.38 644.43 401.94 639.65 622.09 Financial Account

ກາຌຖຄຌໂຈງກຄ 227.77 318.60 278.81 466.85 294.38 Foreign Direct Investment

ກາຌຖຄຌໃຌນ ກຆຍ - - 53.80 11.45 5.74 Portfolio Investment

ກາຌຖຄຌບໆ ຌ 202.61 325.83 69.33 161.35 321.97 Other Investment

ທາຓຏຈຑາຈ ແຖະ ກາຌາຈເໆ ບຌ -420.34 -507.84 -328.66 -854.88 -769.93 Errors and Omissions

ຈຌກາຌຆ າຖະເຄຌຖທຓ 100.37 75.68 102.55 -57.08 60.89 Overall Balance

ໝາງເນຈ Memorandum Items:

ຈຌກາຌຆ າຖະເຄຌຎກກະຉຖທຓຄ ເຄຌຆໆທງເນ ບຂບຄຖຈ (% ຂບຄ GDP)

1.71 -1.09 0.43 1.96 2.30 Current Account

(Percent of GDP)

ຈຌກາຌຆ າຖະເຄຌຎກກະຉຍ ໆ ຖທຓຄ ເຄຌຆໆທງເນ ບຂບຄຖຈ (% ຂບຄ GDP)

0.25 -2.83 -1.16 0.11 0.44 Excluding Official Transfers

(Percent of GDP)

ຈຌກາຌ າຽຍກຍ (% ຂບຄ GDP) -5.89 -7.31 -4.59 -2.66 -2.18 Trade Balance (Percent of GDP)

ຄຘ າປບຄຉໆາຄຎະເຈ 636.09 632.37 735.84 678.76 739.65 Official Gross Reserves

ຄຘ າປບຄຉໆາຄຎະເຈຽຍກາຌຌ າເຂ າຉ ໆ ເຈບຌ 5.44 5.19 4.29 3.39 5.22* Official Gross Reserves in Months of Imports

ຖທຓງບຈຏະຖຈຉະຑຌຑາງໃຌ 5,284.71 5,585.10 6,843.90 8,061.09 9,082.64 Gross Domestic Product in

ບຈຉາແຖກຎໆຽຌຘະເຖໆງຂບຄະຌາາຌຖະກຈ ກຍ/ໂຈຖາ

8,744.98 8,515.93 8,258.82 8,029.57 8,007.30 Kip/USD Exchange rate (Average Commercial

Bank)

ຉາຉະຖາຄ 12: ຈຌກາຌຆ າຖະກຍຉໆາຄຎະເຈ Table 12: Balance of Payments

(ຖ າຌໂຈຖາ/ Million U.S.Dollars)



*ກາຌຌ າເຂ າຘຌ າຍ ໆ ຖທຓຘຌ າຌ າເຂ າຂບຄກາຌຖຄຌຉໆາຄຎະເຈໃຌຎ 2012 ຓ 1.699,06 ຖ າຌໂຈຖາ ນ ຎະຓາຌ 142 ຖ າຌໂຈຖາຉ ໆ ເຈບຌ.

* Commodity import (Excluding foreign direct investment) in 2012 was amounted to USD 1,699.06 million or equivalent to USD 142 million per month



ກາຌຌ າເຂ າຘຌ າຍ ໆ ຖທຓຘຌ າຌ າເຂ າຂບຄກາຌຖຄຌຉໆາຄຎະເຈໃຌຎ 2012 ຓ 1.699,06 ຖາຌໂຈຖາ ນ ຎະຓາຌ




ກາຌຘໆ ຄບບກ 1,091.91 1,052.68 1,746.37 2,189.55 2,269.03 Exports (f.o.b.)

(ບຈຉາກາຌຎໆຽຌແຎຄ) (%) 18.34 -3.59 65.90 25.38 3.63 ( Annual Change) In Percent

ຏະຖຈຉະຑຌໄຓ 65.70 41.74 37.40 81.66 131.11 Wood Products

ກາເຒ 18.49 21.71 26.09 67.78 113.30 Coffee

ເໆ ບຄກະຘກ າ/ເໆ ບຄຎໆາ 52.66 91.41 169.02 152.16 220.83 Agricultural/Forest Products

ຉຈນງຍ 256.03 127.09 171.07 219.91 183.90 Garments

ໄຒຒາ 107.99 100.62 113.18 327.16 502.20 Electricity

ຍ ໆ ແປໆ 561.68 446.58 625.39 1,241.58 946.87 Mining

າ 80.61 90.59 131.37 111.82 150.74 Gold

ບຄແຈຄ 446.03 327.59 468.28 696.28 683.12 Copper

ບໆ ຌ 35.04 28.41 25.74 433.48 113.01 Others

ຘຌ າບໆ ຌ 29.36 223.53 604.22 99.31 170.82 Others Exports

ກາຌຌ າເຂ າ -1,403.17 -1,461.08 -2,060.43 -2,404.19 -2,467.11 Imports (c.i.f.)

(ບຈຉາກາຌຎໆຽຌແຎຄ) (%) 31.80 4.13 41.02 16.68 2.62 (Annual Change) In Percent

ຘຌ າເຑໆ ບກາຌຖຄຌ 567.63 920.2 1,066.30 1,423.70 1,180.01 Investment Goods

ຘຌ າຆຓໃຆ 611.42 373.22 670.42 867.63 1,186.94 Consumption Goods

ທຈຊຈຍຘ າຖຍຉຈນງຍ 175.16 67.04 60.28 14.00 18.77 Materials for Garments

າ ແຖະ ເຄຌ 20.20 59.74 209.76 51.86 8.55 Gold and Silver

ໄຒຒາ 26.90 39.20 50.76 40.91 63.44 Electricity

ບໆ ຌ 1.87 1.69 2.90 6.10 9.40 Others

ຉາຉະຖາຄ 13: ກາຌ າຉໆາຄຎະເຈ Table 13: Foreign Trade






ຉາຉະຖາຄ 14: ໜຘຌຉ ໆ ຉໆາຄຎະເຈຂບຄຖຈ Table 14: External Debts



1. ງບຈເນ ບໜຘຌຉ ໆ ຉໆາຄຎະເຈຄໝຈ 2,575.17 2,694.41 2,808.71 2,943.98 3,036.75 1. Total Debt Stock

ຘບຄຐໆາງ 825.83 927.76 1,064.10 1,249.45 1,405.27 Bilateral

ນ າງຐໆາງ 1,749.35 1,766.65 1,744.60 1,694.53 1,631.48 Multilateral

2. ກາຌຆ າຖະໜ 72.88 87.28 106.51 150.98 157.27 2. Debt Services

(ກາຌຎໆຽຌແຎຄ ຈໄຖໆເຎຌ %) 42.49 19.75 22.02 41.76 4.16 (in Percentage Change)

ຆ າຖະຉ ຌຌ 51.16 63.10 71.60 100.90 100.14 Amortization

ຘບຄຐໆາງ 7.63 11.47 12.89 33.09 23.99 Bilateral

ນ າງຐໆາງ 43.54 51.62 58.72 67.81 76.15 Multilateral

ຆ າຖະຈບກເຍ ງ 21.72 24.19 34.91 50.08 57.13 Interest Payments

ຘບຄຐໆາງ 4.43 6.84 15.03 26.43 33.16 Bilateral

ນ າງຐໆາງ 17.29 17.35 19.87 23.65 23.97 Multilateral

ໜຘຌຉໆາຄຎະເຈຽຍໃຘໆ GDP (%) 48.73 48.24 41.04 36.52 33.43 Total Debt Stock to GDP (%)

ບຈຉາຘໆທຌທາຓຘາຓາຈໃຌກາຌຆ າຖະໜ (%) 4.48 6.02 4.72 5.51 5.53 Debt Service Ratio (%)

ແນ ໆ ຄຂ ຓ ຌ: ະຌາາຌແນໆຄ ຘຎຎ ຖາທ ແຖະ ກະຆທຄກາຌເຄຌ Source: Bank of the Lao PDR and Ministry of Finance



ເຈບຌ/ຎ Month/Year

ກຍ/ໂຈຖາ (Kip/US$) ກຍ/ຍາຈ (Kip/Baht)

ບຈຉາແຖກຎໆຽຌ ກ ບຈຉາແຖກຎໆຽຌ ກ

Commercial Bank Rates Commercial Bank Rates

ຆ (Buy) ຂາງ (Sell) ຆ (Buy) ຂາງ (Sell)

01/2011 8044,97 8080,52 264,32 265,42

02/2011 8035,66 8072,45 262,45 263,64

03/2011 8031,06 8067,92 264,62 265,89

04/2011 8022,90 8058,45 266,65 267,89

05/2011 8013,67 8049,73 265,37 266,52

06/2011 8010,79 8047,48 262,73 263,88

07/2011 8000,68 8036,90 265,44 266,56

08/2011 7988,37 8024,93 267,52 268,74

09/2011 7996,84 8030,04 264,93 265,14

10/2011 7999,22 8031,70 259,92 261,23

11/2011 7997,02 8031,99 259,59 260,65

12/2011 8001,11 8035,22 257,65 258,71

01/2012 7998,87 8033,81 254,29 255,35

02/2012 7980,74 8017,49 260,53 261,71

03/2012 7975,93 8014,00 260,84 262,05

04/2012 7976,64 8013,70 259,02 260,31

05/2012 7995,15 8033,14 256,07 257,25

06/2012 7998,38 8035,92 253,27 254,35

07/2012 8003,70 8040,66 253,34 254,49

08/2012 8000,43 8037,80 254,92 256,08

09/2012 7984,83 8021,10 257,85 258,89

10/2012 7982,79 8019,79 260,18 261,34

11/2012 7989,47 8026,20 260,49 261,63

12/2012 7978,31 8016,38 260,70 261,90

,

ຉາຉະຖາຄ 15: ບຈຉາແຖກຎໆຽຌະຌາາຌຖະກຈໆ ທຖະຍຍ Table 15: Exchange Rates of entire Commercial Banks





ຉາຉະຖາຄ 16: ເຄຌໂບຌເຂ າຓາຖຄຌໂຈງກຄຂບຄຉໆາຄຎະເຈຏໆາຌຖະຍຍະຌາາຌ Table 16: FDI Funds Transferred Through Banking System


ຎະເຈ 2008 2009 2010 2011(R)

2012(P)

Country

ຌ 42,94 36,14 45,57 278,32 143,40 China

ງໆ ຎໆຌ 9,88 16,96 8,30 12,13 8,04 Japan

ANIES 47,23 5,92 2,42 56,54 6,68 ANIES

ເການຖໃຉ 46,93 5,92 1,67 2,04 5,16 South Korea(ROK)

ປຄກຄ - - 0,75 54,50 1,52 Hong Kong

ໃຉ ນທຌ 0,30 - - - - Taiwan (ROC)

ບາຆຽຌ 47,67 57,33 81,58 75,00 35,34 ASEAN

ຓາເຖເຆງ 0,38 0,45 - 0,30 12,60 Malaysia

ຘຄກະໂຎ 0,29 15,97 0,28 2,04 0,49 Singapore

ໄ 34,29 17,20 36,54 23,70 6,23 Thailand

ນທຽຈຌາຓ 12,50 23,70 17,43 48,97 15,97 Vietnam

ບາຆບໆ ຌ 0,03 3,00 - - - OTHER ASIA

ບາຆ 147,75 119,35 137,87 421,99 193,46 ASIA

ບຘເຉຕເຖເຆງ 6,26 0,01 4,30 2,78 71,74 AUSTRALASIA

ບຘເຉຕເຖງ 6,26 0,01 4,30 2,70 71,74 Australia

ຌທຆແຖຌ - - - 0,08 - New Zealand

ເບຖຍ 17,01 11,93 32,69 8,61 1,63 Europe

ຘະນະຑຌເບຕຍ 9,94 11,00 27,54 3,05 0,74 European Union:

ເບຕຍບໆ ຌ 7,07 0,93 5,16 5,56 0,89 Other Europe

ະທຍບາເຓຖກາເໜບ 0,36 0,07 1,24 0,12 - North America

ະທຍບາເຓຖກາໃຉ 0,89 0,04 1,67 0,33 0,21 CENTRAL& SOUTH AMERICA

ຎະເຈປໆທຓຖຄຌ 55,48 187,23 101,02 33,02 27,39 JOINT VENTURE COUNTRIES

ງໆ ຎໆຌ ແຖະຐຕໆ ຄ 2,48 - - - 0,13 Japan & France

ຌ+ບຘເຉຕເຖງ 1,30 - - - - China+Australia

ຐຕໆ ຄ+ໄ 11,76 14,20 9,22 8,17 France+Thailand

ໄ+ຌ 4,00 5,92 3,78 5,80 7,50 Thailand+China

ໄ+ບຄກຈ - - 5,14 8,14 1,09 Thailand+United

ໄ+ເການຖ 0,08 Thailand+Korea

ຘຄກະໂຎ+ບຄກຈ - - 0,90 4,20 6,00 Singapore+United

ຖຈເຆງ+ບຄກຈ - - - 0,85 0,96 Russia+Unites

ບາເຓຖກາ+ຌ - - - 0,77 0,18 USA+China

ງໆ ຎໆຌ+ໄ 0,07 0,19 - 0,08 0,38 Thailand+Japan

ບຌເຈງ+ໄ+ບຌໂຈ - - - 5,00 India+Thai+Indo

ບຘເຉຕເຖງ+ໄ+ບຄກາຌຘາກຌ - - - - - Australia+Thai+Inten.org

ບໆ ຌ 35,87 166,92 81,97 - 11,08 Other

ຖທຓຄໝຈ 227,76 318,62 278,79 466,85 294,43 Total





ຉາຉະຖາຄ 17: ຖທຓກາຌຖຄຌາກຉໆາຄຎະເຈ ແຍໆຄຉາຓຂະແໜຄກາຌ Table 17: Approved Foreign Direct Investment by Sectors


ຖາງກາຌ 2008(R) 2009 2010 2011 2012(P) Items

າຌທຌໂຄກາຌ 152 208 207 288 697 Number of Projects

ຓ ຌໆາກາຌຖຄຌຄໝຈແງກເຎຌຂະແໜຄກາຌ 1,215.54 4,312.89 1,402.21 2,734.46 4,458.24 Total Foreign Direct Investment by

Sectors

ໄຒຒາ 640.00 218.26 443.32 28.70 1,605.25 Electricity Generation

ກະຘກ າ 78.49 289.83 160.66 337.39 289.64 Agriculture

ຍ ໆ ແປໆ 102.07 2,280.46 200.34 1,664.69 662.48 Mining

ບຈຘານະກ າ-ນຈຊະກ າ 156.89 198.72 278.00 262.09 450.23 Industry & Handicraft

ກາຌ າ 12.89 16.64 35.50 23.68 88.70 Trading

ກ ໆ ຘ າຄ 66.60 27.19 75.00 152.13 660.35 Construction

ຍ ຖກາຌ 23.60 1,055.06 172.49 91.42 76.33 Services

ໂປຄແປຓ ແຖະ ປ າຌບານາຌ 29.43 44.22 6.30 11.11 83.78 Hotels & Restaurants

ໂຖະຓ 32.45 83.77 - - 64.56 Telecoms

ບຈຘານະກ າໄຓ 20.99 13.63 12.63 1.57 - Wood Industry

ະຌາາຌ 43.00 77.00 12.00 105.98 250.78 Banking

ຘຄນາຖຓຓະຆຍ - - - - 67.45 Real estate

ຉຈນງຍ 5.11 1.20 - 6.70 - Garment

ໆ ຎກຘາ 4.04 6.89 5.97 5.29 - Consultancies

ຘາາຖະຌະຘກ - - - 42.52 - Public Health

ກາຌຘກຘາ - - - 1.12 142.06 Education

ກາຌຂຌຘໆ ຄ ແຖະ ຘາຄຘຌ າ - - - - 16.63 Transportation & Stocks

ແນ ໆ ຄຂ ຓ ຌ: ກະຆທຄແຏຌກາຌ ແຖະ ກາຌຖຄຌ (ກຓຖຄຌ) Source: Ministry of Planning and Investment

(Department of Investment)



ແນ ໆ ຄຂ ຓ ຌ: ບຄກາຌໆບຄໆຽທແນໆຄຆາຈ Source: Lao National Tourism Administratio


ຉາຉະຖາຄ 18: ຉທເຖກຌກໆບຄໆຽທ ແຖະ ຖາງໄຈ າກກາຌໆບຄໆຽທຂບຄຖາທ Table 18: Tourist Arrivals to Laos PDR and Revenue from Tourism

ຎ າຌທຌຌກໆບຄໆຽທ ຖາງປຍາກກາຌໆບຄໆຽທ Years Number of Tourist Revenue from Tourism

Arrivals (ໂຈຖາ/U.S Dollars)

2000 737,208 113,898,285

2001 673,823 103,786,323

2002 735,662 113,409,883

2003 636,361 87,302,412

2004 894,806 118,947,707

2005 1,095,321 146,770,074

2006 1,215,112 173,249,896

2007 1,623,943 233,304,695

2008 1,736,790 275,515,758

2009 2,008,363 267,700,224

2010(R) 2,513,208 381,669,031

2011(R) 2,723,563 406,184,842

2012(P)

3,212,916 451,054,756

ແນ ໆ ຄຂ ຓ ຌ: ບຄກາຌໆບຄໆຽທແນໆຄຆາຈ Source: Lao National Tourism Administration



Abbreviations: ານງ : BOL: Bank of the Lao PDR ະຌາາຌ ນຄ ຘຎຎ ຖາທ (ນຖ)

OMOs: Open Market Operation(s) ຉະນາຈຽຎຈ

FCD: Foreign Currency Deposits ຽຄຌຐາກຽຎຌຘະກຌຽຄຌຉາຉາຄຎະຽຈ

FX: Foreign Exchange ຖກຎຌຽຄຌຉາຉາຄຎະຽຈ

M2: Money Supply ຎະຖຓາຌຽຄຌ

SOEs: State-Owned Enterprises ຖຈທຘະນະກຈ

MOM: Month on Month ຽຈບຌຍຽຈບຌ

YOY: Year on Year ຎຍຎ

Kip: Lao Currency ຘະກຌຽຄຌກຍ

USD: United States Dollars ຘະກຌຽຄຌຈຖາຘະນະຖຈ

Baht: Thailand Currency ຘະກຌຽຄຌຍາຈແ

GDP: Gross Domestic Product ຖທຓງບຈຏະຖຈຉະຑຌຑາງເຌ

SOCBs: State-Owned Commercial Banks ະຌາາຌຖະກຈຖຈ

BOP: Balance of Payment ຈຌກາຌຆ າຖະກຍຉາຄຎະຽຈ

CPI: Consumer Price Index ຈຈຘະຌຖາາຏ ຆຓເຆ

CAB: Current Account Balance ຈຌຍຌຆຆ າຖະຎກກະຉ

ASEM9: Asia-Europe Meeting 9 ກບຄຎະຆຓບາຆ - ຽບຕຍ ຄ 9

BCEL: Basque Pour le Commerce - Exterior Lao ະຌາາຌກາຌ າຉາຄຎະຽຈຖາທ-ຓະນາຆຌ

EDL-Gen: EDL-Generation Public Company ຍ ຖຘຈ ຏະຖຈແຒຒາຖາທ ຓະນາຆຌ

FOB: Free on Board ຖາາຘຌ າປບຈາຽປບ

CIF: Cost, Insurance and Freight ຖາາຖທຓຉ ຌຌ, າຎະກຌແຑ ຖະ າຖະນທາຄ ຂຌຘ ຄ P: Preliminary Data ຉທຽຖກຽຍ ບຄຉ ຌ

ID: Identification ຽບກະຘາຌດຄດຌ

LSX: Lao Securities Exchange ຉະນາຈນກຆຍຂບຄ ຘຎຎ ຖາທ

ATM: Automatic Teller Machine ຽ ບຄກປຍຐາກ-ຊບຌບຈຉະຌຓຈ

EU: European Union ຘະນະຑາຍຽບຕຍ

NPL: Non-Performing Loan ຽຄຌກ ຍ ຽກຈຈບກບບກຏຌ

FY: Fiscal Year ຎຄຍຎະຓາຌ

MB: Money Base/Monetary base ຊາຌຽຄຌຉາ MFI(s): Microfinance Institution(s) ຘະຊາຍຌກາຌຽຄຌຖະຑາກ

DTMFI: Deposit Taking MFI ຘະຊາຍຌກາຽຄຌຖະຑາກ ປຍຽຄຌຐາກ

NDTMFI: Non-Deposit Taking MFI ຘະຊາຍຌກາຽຄຌຖະຑາກ ຍ ປຍຽຄຌຐາກ

VAT: Value-Added Tax ບາກບຌຓຌາຽຑ ຓ

MDG: Millennium Development Goal ຽຎາໝາງກາຌຑຈະຌາຘະນະຘະນທຈ

CB: Commercial Bank ະຌາາຌຖະກຈ

ະຌາາຌນຄ ຘຎຎ ຖາທ / Bank of the Lao PDR

Documents

Bank of the Lao PDR Annual Report 2012