Cambodia: Economic Outline

Economic Indicators

During the last few years, Cambodia showed high levels of GDP growth, amounting to 10% per year. Due to the effects of global economic sluggishness, growth started to decrease in 2008 and reduced considerably in 2009 (-2%), before resuming growth in 2010 (4.8%). Growth should continue to accelerate in 2011.

Textile, tourism and mining are the main growth drivers, however, the country remains highly dependent on foreign aid. Offshore deposits of oil and natural gas have recently been found in Cambodia, a fact that offers the country new economic growth opportunities. Nevertheless the absence of basic infrastructures, the high population growth and the lack of economic development due to years of social unrest are major problems, which negatively affect growth.

In co-operation with international financial institutions (IMF and the World Bank), the governement is attempting to tackle the main challenges: establish economic reforms necessary for developing the private sector, in a way that would create employment of a population that is demographically unbalanced (50% of the population is under 21 years) and unskilled. Ensuring greater budget flexibility, preserving financial stability, promoting economic diversification and supporting rural development are also among the priorities.

Cambodia is a poor country (which is part of the least developed countries - LDC), where per capita wealth is lower than that of the neighboring countries, where the level of education is low and unemployment increasing.

Main Indicators	2009	2010	2011	2012 (e)	2013 (e)
GDP (billions USD)	10.87	11.63e	13.16e	14.55	16.16
GDP (Constant Prices, Annual % Change)	-2.0e	6.0	6.7	6.5	7.0
GDP per Capita (USD)	768	814e	912e	998	1,097
General Government Gross Debt (in % of GDP)	28.7	29.9e	29.2e	28.8	27.6
Inflation Rate (%)	-0.7	4.0e	6.4	5.6	3.6
Current Account (billions USD)	-0.56	-0.48	-1.22e	-0.98	-0.73
Current Account (in % of GDP)	-5.2e	-4.1	-9.3e	-4.5	-

Source: IMF - World Economic Outlook Database - Last Available Data.

Note: (e) Estimated Data

Monetary Indicators	2008	2009	2010
Foreign Debt (million USD)	4,215	4,364	-
Cambodian Riel (KHR) - Average Annual Exchange Rate For 1 USD	4,054.17	4,139.33	4,184.92

Source: World Bank - Last Available Data.

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Main Sectors of Industry

Breakdown of Economic Activity By Sector	Agriculture	Industry	Services
Employment By Sector (in % of Total Employment)	70.2	10.5	19.1
Value Added (in % of GDP)	35.3	22.6	42.0
Value Added (Annual % Change)	5.6	-2.5	-1.4