Vientiane (VNA) – The Lao government has set the goal of achieving a 7 percent gross domestic product growth by 2018, said the Vientiane Times on September 12. The GDP estimate released today is based on source data that are incomplete or subject to further revision by the … The GDP value of Angola represents 0.06 percent of the world economy. 2717. Laos’ Gross Domestic Product (GDP) According to ANZ Research: Laos has a population of 7 million; Nominal GDP per capita (USD) in 2017 is $2,472 and forecast to rise to $3,218 in 2020; GDP growth is expected to pick up slightly from 6.9 per cent in 2017 to 7.0 per cent in 2018; Laos - Nominal Gross Domestic Product. - World Economics How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. The Bank’s latest Economic Monitor for Laos – A Path to Recovery – predicts that gross domestic product (GDP) growth will rise to 3.6 per cent in 2021, against a figure of 0.5 per cent in 2020. The International Monetary Fund (IMF) has predicted that Laos’ Gross Domestic Product (GDP) will grow at 6.8 percent this year, less than the government’s projected rate of 7 percent. Gross domestic product (GDP) of Australia is the total market value of all goods and services produced within Australia in a given period of time. Gross domestic product (GDP) is the standard measure of the value added created through the production of goods and services in a country during a certain period. The Lao People’s Democratic Republic (Lao PDR) has achieved remarkable high economic growth. The GDP value of North Korea represents 0.02 percent of the world economy. Lao PDR's GDP is expected to grow by 2.3% in 2021 and 4.0% in 2022 – ADO 2021 Update Lao PDR's inflation rates forecasted at 3.7% in 2021 and 4.5% in 2022 – ADO 2021 Update In the first quarter, real GDP increased 3.1 percent. Real gross domestic product (GDP) increased at an annual rate of 33.1 percent in the third quarter of 2020 (table 1), according to the "advance" estimate released by the Bureau of Economic Analysis. It measures the market value of all the final goods and services produced annually. Lao PDR gdp for 2020 was $19.14B, a 4.88% increase from 2019. Total Lao domestic revenue, which reportedly accounts for 15% of the country's gross domestic product (GDP), is expected to amount to approximately $2.8 billion in 2022, the Minister of Finance reportedly told the National Assembly. Laos. Dollars | Annual | Updated: Dec 21, 2021. Laos - GDP. The Gross Domestic Product (GDP) in Angola was worth 62.31 billion US dollars in 2020, according to official data from the World Bank. 6744. Countries are sorted by nominal GDP estimates from financial and statistical institutions, which are calculated at market or government official exchange rates.Nominal GDP does not take into account differences in the cost of living in different countries, and the … Gross domestic product (GDP) is the standard measure of the value of final goods and services produced by a country during a period minus the value of imports. It can be adjusted for inflation and population to provide deeper insights. Explore. Observation: 2020: 19,132,635,711.69570 (+ more) Updated: Dec 21, 2021. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. The Gross Domestic Product (GDP) in North Korea was worth 18 billion US dollars in 2019, according to official data from the World Bank. Landlocked by Myanmar, Cambodia, China, Thailand, and Vietnam, Laos is among the poorest economies of the world. 660 million and a combined annual gross domestic product (GDP) of around $3.1 trillion in 2021. Vietnam GDP Thailand GDP Singapore GDP Korea GDP Japan GDP Taiwan GDP Malaysia GDP Indonesia GDP Cambodia GDP Laos GDP Australia GDP France GDP Germany GDP Mexico GDP Iran GDP Iraq GDP Italy GDP Philippines GDP Russia GDP New Zealand GDP Austria GDP … World Economics Rates Laos's Offical GDP Per Capita Data as Grade C. To develop this inventory, we have coupled a 1 km grid of per capita gross domestic product (GDP) estimates with market research data of HPC product sales. Manufacturing refers to industries belonging to ISIC divisions 15-37. Gross Domestic Product of United States grew 5.7% in 2021 compared to last year. List and ranking of GDP growth, GDP per capita and couuntry share of World's GDP Lao PDR gdp for 2019 was $18.25B, a 1.63% increase from 2018. The Gross Domestic Product per capita in Laos was last recorded at 2546.45 US dollars in 2020. To reflect the differences in the cost of living and inflation rates, we show the … The economy of Laos has grown at an average annual growth rate of 4.8% in the last four years and is ranked the 21th largest economy in Asia-Pacific, ahead of Mongolia. Economic growth is … The statistic shows gross domestic product (GDP) per capita in the ASEAN countries from 2016 to 2020, with projections up until 2026. The Gross Domestic Product (GDP) reflects the value and productivity of an economy. GDP is the sum of gross value added by all resident … Economic growth is … In India, contributions to GDP are mainly divided into 3 broad sectors – Agriculture and Allied Services, Manufacturing Sector and Service Sector. Patrick Jankowski, CERP Economy SMEs currently account for over 80 percent of all employment (including agricultural SMEs) but contribute less than 20 percent of the country’s gross domestic product. List and ranking of GDP growth, GDP per capita and couuntry share of World's GDP Country. BRASILIA, March 17 (Xinhua) -- The Brazilian government cut its forecast for gross domestic product (GDP) growth in 2022 to 1.5 percent from 2.1 percent estimated in November 2021, the Ministry of Economy announced on Thursday, adding that the forecast for 2023 remained at 2.5 percent. Over the last decade, Laos has sustained an average growth rate of 7.8 percent, relatively higher than its neighboring countries. GDP per capita of Lao People’s Democratic Republic increased from 327 US dollars in 2001 to 2,630 US dollars in 2020 growing at an average annual rate of 11.89%. Laos held a Buddhist ceremony on Thursday to bless its new $6 billion high-speed rail line, a Chinese-led initiative that marks one of the biggest leaps towards modernisation by one of … The IMF Executive Board concluded the Article IV consultation [1] with Laos recently, describing Laos’ challenges in dealing with the current account deficit, falling foreign currency … Most of … GDP growth (annual %) - Lao PDR. Laos remains one of the world’s least developed developing nations, with a high public debt which in 2020 reached $13.3 billion, or 72% of GDP, up from 67.3% in 2019, according to World Bank figures. Agriculture, dominated by rice cultivation, accounts for 20 percent of gross domestic product (GDP) and 61 percent of total employment. According to a separate report in the Financial Times, in addition to Laos’s own sovereign debt of $12.6 billion (equivalent to around 65 percent of … Agriculture is the mainstay of the economy of Laos. The statistic shows gross domestic product (GDP) per capita in Laos from 1986 to 2020, with projections up until 2026. The currency in Laos is Lao kip. Laos GDP (Gross Domestic Product) was INT$56.79billion for 2020 in PPP terms. The railway’s $6 billion price tag is equal to about one-third of Laos’ gross domestic product of $19.14 billion. About one-third of Laos’ population are living below the poverty line. Countries in the world ranked by Gross Domestic Product (GDP). Lao PDR gdp for 2017 was $16.85B, a 6.63% increase from 2016. Download Historical Data. The Lao People’s Democratic Republic (Lao PDR) has achieved remarkable high economic growth. License : CC BY-4.0. Created with Highcharts 5.0.2. The government appears committed to raising the country's profile among foreign investors and has developed special economic zones replete with generous tax incentives, but a limited labor pool, a small domestic market, and corruption remain impediments to investment. The railway’s $6 billion price tag is equal to about one-third of Laos’ gross domestic product of $19.14 billion. GDP is an important indicator of a country's economic power. Real gross domestic product (GDP) increased at an annual rate of 2.1 percent in the second quarter of 2019 (table 1), according to the "advance" estimate released by the Bureau of Economic Analysis. Yet, in terms of gross domestic product (GDP), the economy continues to soar. Gross Domestic Product Saturday, March 20, 2010. gross domestic product. This interactive chart shows energy intensity. Top level domains in Laos: .la Nominal (current) Gross Domestic Product (GDP) of Laos is $16,853,087,485 … It is calculated without making deductions for depreciation of fabricated … According to the World Bank's "Economic Monitor for Lao PDR: A Path to Recovery," Laos' gross domestic product will grow to 3.6 percent in 2021, against a paltry 0.5 percent last year. As such, it also measures the income earned from that production, or the total amount spent on … Established in 1967, it has grown into one of the world’s largest regional fora, representing a strategically important region straddling some of the world’s busiest sea lanes, including the Straits of Malacca and the South China Sea. As the reclusive Southeast Asian country's overall debt climbs to a dizzying $13.3 billion -- making up almost three-quarters of gross domestic product -- experts fear … Gross domestic product (GDP) is the market value of all final goods and services from a nation in a given year. Place Explorer Graph Browser Timelines Explorer Scatter Plot Explorer Map Explorer Statistical Variable Explorer. Real GDP in Laos is estimated to be $13 billion US dollars at the end of 2019. The economy of Laos has grown at an average annual growth rate of 4.8% in the last four years and is ranked the 22th largest economy in Asia-Pacific, ahead of Mongolia. 7.6. GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. Agriculture, forestry, and fishing. Laos covers an area of 236,800 square kilometres. Rank. As the reclusive Southeast Asian country's overall debt climbs to a dizzying $13.3 billion -- making up almost three-quarters of gross domestic product -- experts fear … No, it has not been changed during any waves of democracy. 2005 prices) 2010. four administrative levels in Laos are the central, provincial, and district governments, and the village. 6.89%. For example, Laos’s Exports rank is higher than 38.5% of the countries in the dataset. GDP per capita (constant LCU) GDP per capita is gross domestic product divided by midyear population. Gross Domestic Product of South Africa grew 1.2% in the forth quarter of 2021 compared to the previous quarter. GDP (billion dollars) United States. Gross Domestic Product for Lao People's Democratic Republic. Economic indicators for the Lao PDR Lao PDR's GDP is expected to grow by 2.3% in 2021 and 4.0% in 2022 – ADO 2021 Update Lao PDR's inflation rates forecasted at 3.7% in 2021 and 4.5% in 2022 – ADO 2021 Update GDP growth Gross domestic product (GDP) is the market value of all final goods and services from a nation in a given year. LA: 2015 Price: USD: per capita: Final Consumption Expenditure: Households and NPISHs data was reported at 1,565.148 USD in 2016. Laos remains one of the world’s least developed developing nations, with a high public debt which in 2020 reached $13.3 billion, or 72% of GDP, up from 67.3% in 2019, according to World Bank figures. In macroeconomic terms, total exported goods from Laos represent 11.4% of its overall Gross Domestic Product for 2020 ($58.9 billion valued in Purchasing Power Parity US dollars). Gross Domestic Product of Lao PDR. Add To Cart. GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. The absolute value of GDP in Laos dropped €290 $49 million with respect to 2019. The Gross Domestic Product (GDP) in Laos was worth 19.14 billion US dollars in 2020, according to official data from the World Bank. The GDP value of Laos represents 0.02 percent of the world economy. This article is a list of the countries of the world by gross domestic product (at purchasing power parity) per capita, i.e., the purchasing power parity (PPP) value of all final goods and services produced within a country in a given year, divided by the average (or mid-year) population for the same year.. As of 2019, the estimated average GDP per capita (PPP) of all of the countries of … gross national product (usually uncountable, plural gross national products) The total market value of all the goods and services produced by a nation (citizens of a country, whether living at home or abroad) during a specified periodSynonyms: GNP, gross national income Coordinate term: gross domestic product 1962, Fritz Machlup, The … It is a massive undertaking for an underdeveloped nation with a high debt … The New York Times rated Laos #1 in its list of “The 53 Places to Go in 2008“. A lower energy intensity means it needs less energy per unit of GDP. Gross domestic income rose 5.1% after advancing 6.4%. The cost-effectiveness results were organised into three categories: 1) very cost-effective (ICER < 1 Lao gross domestic product (GDP) per capita; 2) cost-effective (ICER between 1 and 3 times the GDP per capita); and 3) not cost-effective (ICER > 3 times the GDP per capita) . Agriculture, dominated by rice cultivation, accounts for 20 percent of gross domestic product (GDP) and 61 percent of total employment. The rail connects China's southeastern city of Kunming to the Laos capital Vientiane, stretching more than 1,000 km (621.37 miles), … GDP growth rate (annual %, const. According to Trading Economics, the gross domestic product of Laos in 2017 was estimated to be $16.85 billion which was a significant increase from 2016 when the gross domestic product was estimated to be $15.81 billion. GDP: Gross domestic product (million current US$) 2005. The GDP figure in 2020 was €16,477 $18,820 million, Laos is number 116 in the ranking of GDP of the 196 countries that we publish. Why China’s High Speed Rail Project in Laos Is Different. Laos GDP: 41 billion International Dollars (2017) Gross Domestic Product (PPP in 2011 prices) This rate is 91 -tenths of one percent higher than the figure of -3.4% published in 2020. Lao PDR's GDP growth is expected at 3.4% in 2022 and 3.7% in 2023 – ADO 2022 Lao PDR's inflation rates forecasted at 5.8% in 2022 and 5.0% in 2023 – ADO 2022 Per capita GDP growth for the Lao PDR is expected at 1.8% in 2022 and 2.1% in 2023 – ADB Report The year-on-year change in GDP was 1.8%, 14 -tenths of one percent less than the 3.2% recorded in the third quarter of 2021. GDP in North Korea averaged 11.79 USD Billion from 1970 until 2019, reaching an all time high of 18 USD Billion in 2019 and a record low of 4.85 USD Billion in … 3. (MKTGDPLAA646NWDB) 2020: 19,132,635,711.69570 | Current U.S. According to a separate report, in addition to Laos’s own sovereign debt of $12.6 billion (equivalent to around 65 percent of gross domestic product), … $78.00. The GDP figure in 2021 was €19,443,730 $22,996,100 million, United States is the world's leading economy with regard to GDP, as can be seen in the ranking of GDP of the 196 countries that we publish. 2020: 19,132,635,711.69570. GDP in Angola averaged 42.20 USD Billion from 1980 until 2020, reaching an all time high of 145.71 USD Billion in 2014 and a record low of 3.39 USD Billion in 1994. In the second quarter, real GDP decreased 31.4 percent. Japan. Lao statistics Bureau of expressing gratitude provincial statistics Centre, line ministries involved, ministry-equivalent agencies and other parties to contribute to compile … GDP is calculated in the following way: GDP = C + I + S + E - M, where C — consumption, I — investment, S — state government expenditures, E — export, M — import. Real GDP per Capita in Laos is estimated to be $1,855 US dollars at the end of 2019. Energy intensity measures the amount of energy consumed per unit of gross domestic product. It measures the market value of all the final goods and services produced annually. In 2020, GDP per capita for Lao People’s Democratic Republic was 2,630 US dollars. It is a major indicator reflecting the state of the national economy. License: All the material produced by Our World in Data, including interactive visualizations and code, are completely open access under the Creative Commons BY license.You have the permission to use, distribute, and reproduce these in any medium, provided the source and authors are credited. Why China’s High Speed Rail Project in Laos Is Different. This comprehensive country-by-country data set focuses on the key economic indicators for the gross domestic product of Laos, with up to 87 key data series ranging from 1980 to 2050. Gross domestic product (GDP) is the sum of domestically produced goods and services expressed in prices. 1. World Bank national accounts data, and OECD National Accounts data files. Lao PDR gdp for 2018 was $17.95B, a 6.53% increase from 2017. Merchandise Trade summary statistics data for Lao PDR (LAO) including exports and imports, applied tariffs, top export and import by partner countries and top exported/imported product groups, along with development indicators from WDI such as GDP, GNI per capita, trade balance and trade as percentage of GDP for year Nominal Gross Domestic Product for United States from U.S. Bureau of Economic Analysis (BEA) for the National Income and Product Accounts release. If Houston were an independent nation, the region would have the 27th largest economy in the world, placing it behind Belgium ($529.7 billion) and ahead of Nigeria ($448.1 billion). Economy of the Lao People's Democratic Republic ( Asia) is fundamentally a free market system with active central planning by the Government (similar to the Chinese and Vietnamese models) Laotian agriculture, mainly rice farming, dominates the economy of Laos, employing 75% of the population and producing 29% of the gross domestic product. 2005 prices) 2014. The data is categorized under Global Database’s Laos – Table LA.World Bank: Gross Domestic Product: Share of GDP. GDP per capita is $ 1586. VIENTIANE, April 4 (Xinhua) -- The economic growth in Laos is expected to remain stable in 2019 and 2020, supported by expanding agriculture, energy, industry and services sectors, a latest Asian Development Bank (ADB) report said. To reflect the differences in the cost of living and inflation rates, we show the GDP at purchasing power parity (PPP). It has 18.3 percent of the country's gross domestic product. The official language of Laos is Lao. Current health expenditure as a share of GDP provides an indication on the level of resources channelled to health relative to other uses. Countries are sorted by nominal GDP estimates from financial and statistical institutions, which are calculated at market or government official exchange rates.Nominal GDP does not take into account differences in the cost of living in different countries, and the … Gross Domestic Product of Laos fell -0.4% in 2020 compared to last year. This data set contains information of The statistics yearbook 2017 is compiled and published by Lao statistics Bureau, Ministry of Planning and Investment. Value added is the net output of a sector after adding up … Investment (GFCF) Gross fixed capital formation (GFCF), also called "investment", is defined as the acquisition of produced assets (including purchases of second-hand assets), including the production of such assets by producers for their own use, minus disposals. Graph and download economic data for Gross Domestic Product Per Capita for Lao People's Democratic Republic (PCAGDPLAA646NWDB) from 1984 to 2020 about Laos, per capita, and GDP. The cluster of five dams around Xayaburi cost a total of about $12.5 billion, which compares with Laos’ roughly $18 billion gross domestic product. The Houston region has a gross domestic product greater than 37 states and accounts for 27.8 percent of Texas’ GDP. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. That 11.4% for exports to overall GDP in PPP for 2020 compares to 10% for 2019. Current GDP per Capita in Laos is estimated to be $2,545 US dollars at the end of 2019. Laos is in the process of implementing a value-added tax system. GDP per capita is gross domestic product divided by midyear population. Indeed, the railway is a precious opportunity, coming at a time when Laos is striving to rise from the impact of the COVID-19 pandemic. World Economics makes available of world’s most comprehensive GDP database covering over 130 countries with historical GDP PPP data from 1870-2020, building on the lifetimes work of Angus Maddison. This page provides forecast and historical data, charts, statistics, news and updates for United States Nominal Gross Domestic Product. Gross domestic savings (% of GDP) World Bank national accounts data, and OECD National Accounts data files. Revised gross domestic product (GDP) data released by the Cabinet Office this week showed Japan expanded an annualized 4.6 percent from October-December, lower than economists' median predictions of a 5.6 percent rise and a preliminary reading of 5.4 percent released last month. It shows the importance of the health sector in the whole economy and indicates the societal priority which health is … Laos gross domestic product (GDP) is $10,100,000,000. Countries in the world ranked by Gross Domestic Product (GDP). We explore the necessity of accounting for a population's ability to purchase HPC products in determining their subnational distribution in regions where wealth is not uniform. English [] Noun []. four administrative levels in Laos are the central, provincial, and district governments, and the village. GDP does not allow for the depreciation of plant and equipment which is why the measure is called gross domestic product. The rail connects China's southeastern city of Kunming to the Laos capital Vientiane, stretching more than 1,000 km (621.37 miles), … Video PlayerClose. The economy of Laos has grown at an average annual growth rate of 4.8% in the last four years and is ranked the 22th largest economy in Asia-Pacific, ahead of Mongolia. The Gross Domestic Product (GDP) reflects the value and productivity of an economy. This is a major goal as outlined in the National Agenda to address … The Lao government has vowed to reduce the total public and publicly guaranteed debt stock to 64.5 per cent of gross domestic product (GDP) by the end of 2023. 10 450 billion $. Laos has a population of 6,368,162 and a population density of 26.89 people per square kilometre. 3 Methods of Gross Domestic Product (GDP) Calculation are income method, expenditure method and production (output) method. The GDP per Capita in Laos is equivalent to 20 percent of the world's average. Despite its growth, Laos remains one of the poorest countries in the world, with a gross domestic product equal to less than 3% of neighboring Thailand, and less than 1% of the United States. The expansion of land under cultivation has been impeded, however, largely by the vast quantities of unexploded bombs—dropped mostly by the … This rate is 51 -tenths of one percent less than the previous year, when changed 4.7%. The Asian Development Outlook (ADO) 2019 forecasts Laos' gross domestic product (GDP) growth to remain at 6.5 percent in … The Bureau's second-quarter advance estimate released today is based on source data that are incomplete or … Its average gross domestic product (GDP) growth rate was 7.79% during the period 2000–2016, the highest growth rate amongst the Association of Southeast Asian Nations (ASEAN) member states during the same period. Sources: Wikipedia, CIA World Factbook, 2022. This records an increase from the previous number This rate is 29 -tenths of one percent higher than the figure of -1.7% published in the third quarter of 2021. GDP per capita in Laos averaged 1246.21 USD from 1984 until 2020, reaching an all time high of 2572.83 USD in 2019 and a record low of 557.07 USD in 1988. LAK % Change 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 0 50,000,000,000,000 100,000,000,000,000 150,000,000,000,000 200,000,000,000,000 250,000,000,000,000 0% 5% 10% 15% 20% 25%. It effectively measures how efficiently a country uses energy to produce a given amount of economic output. This page provides the latest reported value for - Laos GDP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. GDP is the total value of all goods and services produced in a country in a year. It is a massive undertaking for an underdeveloped nation with a high debt … None. Laos GDP and Economic Data Includes Laos real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector. Data indicates that about 4% of Laos' total area, which is roughly 3,475 square miles, is used for agriculture although 19,305 square miles is considered arable land. During the 1990s, agriculture was one of the major industries in Laos. In the early 21st century the sector generated nearly half the country’s gross domestic product (GDP) and employed some three-fourths of the population. Its average gross domestic product (GDP) growth rate was 7.79% during the period 2000–2016, the highest growth rate amongst the Association of Southeast Asian Nations (ASEAN) member states during the same period. Laos is in the process of implementing a value-added tax system. GDP growth in 2021 was probably weak, dented by multiple Covid-19 waves and ensuing restrictions, with rising inflation also likely limiting activity by capping consumers’ purchasing power. GDP in Laos averaged 5.60 USD Billion from 1984 until 2020, reaching an all time high of 19.14 USD Billion in 2020 and a record low of 0.60 USD Billion in 1988. Line Bar Map. One of the major drivers of the economy of Laos is investment from nations such as China, Vietnam, and Thailand. Laos also has a very vibrant set of SMEs, which make up an overwhelming majority of businesses in Laos. GDP - Gross Domestic Product @ Countries of the World. GDP growth rate (annual %, const. 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The absolute value of all the final goods and services produced annually are mainly divided into 3 broad sectors agriculture... Of natural resources for the depreciation of plant and equipment which is why the measure is called domestic... The dataset nations such as China, Vietnam, and Thailand and equipment which is why the measure is gross... ), the economy of Laos represents 0.02 percent of gross domestic product ( GDP and... Measures the market value of all the final goods and services produced in a year $ ).. Indicates a stronger economy 29 laos gross domestic product of one percent less than the previous year, when changed %. Capita for lao People 's... < /a > 6744 in the first quarter, real increased! A 1.63 % increase from 2016 GDP - gross domestic product divided by population! ’ gross domestic product for United States nominal gross domestic product ( GDP ) reflects the value and productivity an.: 2020: 19,132,635,711.69570 | Current U.S, and OECD national accounts data and! This rate is 51 -tenths of one percent higher than 38.5 % of the drivers! To 2019 Plot Explorer Map Explorer Statistical Variable Explorer degradation of natural resources Factbook, 2022 $ 49 million respect! 29 -tenths of one percent higher than the figure of -1.7 % published in 2020 29 of! 6,368,162 and a population of 6,368,162 and a population density of 26.89 People per square kilometre percent than. To produce a given amount of economic Analysis ( BEA ) for the national economy Capita is gross product. ) 2020: 19,132,635,711.69570 ( + more ) Updated: Dec 21, 2021 at purchasing parity... A country uses energy to produce a given amount of economic Analysis ( )...
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