Service sector’s contribution to economy still not enough in Laos
VIENTIANE (Vientiane Times/ANN) – While there has been steady growth in services, authorities are concerned the sector’s contribution to the economy is insufficient given that most of the supporting inputs are imports.
This year the government had expected the service sector to grow at about seven percent or register an increase of 0.4 percent in gross domestic product (GDP).
Wholesale and retail services and the vehicle repairing sector expanded at 9.9 percent and contributed 1.4 percent to growth of the service sector; real estate grew at 6.7 percent contributing 0.4 percent, financial and securities growing at 7.7 percent contributing 0.2 percent and guesthouses, hotels and restaurants grew at 5.3 percent contributing 0.1 percent.
News Desk
