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Laos is one of the world's poorest nations. Agriculture employs most of the Laotian workforce and accounts for over 50% of its gross domestic product. Rice is by far the chief crop; corn, sweet potatoes, and vegetables are also grown. Commercial crops include coffee, tobacco, sugarcane, and cotton. Illegal opium and cannabis are also produced in a northwest region bordering Thailand and Myanmar known as the "Golden Triangle." Fish from the rivers supplement the diet. Forests cover over half of the country; teak is cut and lac is extracted, but poor transportation and the lack of industry limit production. Although tin is mined, mineral resources, which also include gypsum, gold, and gemstones, are largely undeveloped.
Laos also has a massive hydroelectric potential and, despite a relative lack of development, electricity is a prime export. The other principal exports of Laos are timber and wood products, tin, textiles and garments, and coffee. Since most manufactured items have to be imported, there is a continuing foreign trade deficit. Leading trade partners are Thailand, Vietnam, and Japan. In an attempt to expand the nation's economy, a foreign investment law was passed in 1989; the statute was further liberalized in 1994.
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