The COVID-19 pandemic has more or less come to an end in 2023, however, the country and economy faces a new set of challenges due to the international fuel hikes and inflation. As a result, most categories within cooking ingredients and meals have seen price increases which are forcing consumers to economise and cut out any unnecessary expenditure.
As the COVID-19 pandemic comes to an end, Laos is now facing economic challenges owing to the global surge in fuel prices, the devaluation of the Lao Kip, and inflation. In April 2023, inflation persisted at elevated levels, primarily attributable to the depreciation of the Kip against the Thai baht and US dollar.
The Lao People’s Democratic Republic (Lao PDR) is a landlocked and ethnically diverse nation in Southeast Asia close to the South China Sea and bordered by Vietnam, Cambodia, Thailand, Myanmar, and China. It is largely mountainous, but not in the developed part of the country.
According to the World Bank, 43% of households have witnessed a decrease in real incomes since the onset of the pandemic. Real household incomes have been adversely affected by widespread inflation.
The reopening of borders and the resumption of operations for the Lao-China railway post pandemic have facilitated cross-country trading. However, challenges arise due to inadequate road infrastructure, particularly impacting distribution.
Over the forecast period, there will be a surge in new products, both locally made and imported. Modern grocery retailers, convenience stores, and supermarkets will showcase a variety of goods from an increasing number of countries.
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Cooking Ingredients and Meals
This report originates from Passport, our Cooking Ingredients and Meals research and analysis database.
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